Businessman from China investing in Vancouver real estate ordered to repay millions

In what's being described as a landmark case, a businessman accused of disappearing from China, after withdrawing a loan there equivalent to $10 million and reappearing in Vancouver in possession of several multi-million dollar Lower Mainland properties, has been ordered to repay the money. In June 2016, lawyers for China CITIC Bank brought an application before a B.C. Supreme Court judge to freeze the assets of Shibiao Yan, who was accused of approving the withdrawal of a 50 million RMB line of credit extended to a company he controlled in China and never repaying it.
Read more: http://www.cbc.ca/news/canada/british-columbia/chinese-real-estate-investor-to-repay-millions-1.3998380?source=Snapzu