jstats

I am a grumpy old man 👴

[jstats @Devilology]

@gregorrobertson You Sir are a cad and a grifter.

[Kat Kanada 🏴 @KatKanada_TM]

Carney’s MPs better revolt and this better be his end as Prime Minister.

[Rick Rule @RealRickRule]

the market has an answer. No subsidies, for anyone, ever.
If the developer wants to move the property, lower the price.
If the bank forecloses, they lower the price, and liquidate.
Are lower shelter prices ( affordability) a bad thing?

[Kevin Pacitti 🇨🇦🇮🇹🇬🇧 @kpac_15]

Ya. This sums up Carney’s 3.5 billion dollar Vancouver condo bailout.🤣😂
The fact anyone is defending this shit.

[jstats @Devilology]

@DavidStaplesYEG

[T.D. Leaker @TdLeaker]

Mark Carneys Real Estate friend in Vancouver has a message for taxpaying Canadians:

"Thank-you for your donation"

[jstats @Devilology]

@MarioNawfal Breaking News...Donald Trump expresses interest in large Canadian real estate development

[jstats @Devilology]

@DanAlbas Start a run on Brookfield and show this "economist" how markets work.

[jstats @Devilology]

@DanAlbas Grifters, every last one of them.

[Vote Canada @VoteCanadaCom]

Vancouver’s Rotten Developer Bailout: Jailed Crooks, Embezzlers & Their Politician Pals Steal $3.2B from Taxpayers​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

https://t.co/CHsa1wj7A0

The interconnected failures of these Vancouver area developers have produced a grotesque spectacle of mismanagement, court defiance, alleged fund diversion, and political favoritism that now culminates in a $3,200,000,000 taxpayer bailout. Helen Chan Sun stands out as the most brazen offender in the entire group. This multimillionaire developer, sole shareholder of Landmark Premiere Properties Limited, which held hundreds of millions of dollars in Lower Mainland real estate, was jailed for 40 days in May 2026 by a British Columbia Supreme Court judge for civil contempt. She repeatedly ignored court orders to disclose her personal finances, income, and expenditures to creditors. The judge described her conduct as nothing short of reprehensible and ordered sheriffs to handcuff her and remove her from the courtroom. Even while behind bars, another judge declared her bankrupt in June 2026, citing her documented history of financial shenanigans. Creditors claim she owes them more than $45,000,000 in one proceeding alone, with another $67,000,000 loan threat looming. Court records detail how she stopped payments on a $5,600,000 debt after paying only about $3,000,000, lived lavishly with a Lamborghini SUV and luxury goods while claiming a salary under $70,000 per year and residing with her mother, paid friends and family ahead of legitimate creditors, and faced Canada Revenue Agency reassessments with gross negligence penalties. Her projects, including Shawn Oaks and others in Burnaby, White Rock, and Surrey, collapsed into receiverships and foreclosures, leaving contractors, lenders, and strata owners holding massive losses. Landmark Innovative Homes Limited and Helen Chan Sun donated $10,000 to Vision Vancouver during Gregor Robertson’s mayoral tenure around 2014. This money helped fund the very political machine that approved the condo developments now requiring public rescue.

Daljit Thind and his family operation represent another pillar of systemic failure on an even larger scale. Thind Properties, under Daljit Thind’s leadership as founder and chief executive, saw multiple flagship projects such as Highline Metrotown, Eclipse Brentwood, District Northwest in Surrey, and Minoru Square in Richmond plunge into receivership and Companies’ Creditors Arrangement Act protection. Lenders including KingSett Mortgage Corporation accused the company of wrongfully retaining $17,700,000, including $7,500,000 in goods and services tax funds collected from condo sales that should have gone to the Canada Revenue Agency but were instead diverted for undisclosed internal obligations. KingSett sought repayment of more than $300,000,000 across developments totaling nearly 1,800 units plus commercial space. Personal guarantees triggered foreclosures on Daljit Thind’s Vancouver mansions, including one sold for millions. His son Paul Thind, who served as chief operating officer, faced a personal lawsuit for $111,771 plus interest on unpaid millwork at the Highline project. Contractors, pre-sale buyers, the City of Burnaby, and other creditors filed claims for hundreds of thousands and millions in unpaid work, commissions, and obligations. The family empire, built on aggressive leverage during the investor boom, left workers unpaid, buyers stranded, and public coffers exposed.

Daljit Thind cultivated extensive political access that now shields the fallout. He hosted a private fundraising dinner for Justin Trudeau on April 10, 2014, which raised approximately $45,000 for the Liberal Party of Canada. Thind Properties and Daljit Thind contributed $30,000 to Vision Vancouver under Mayor Gregor Robertson. The family, including Paul Thind, donated $1,000 each to David Eby’s NDP leadership campaign in 2022. Daljit Thind attended closed-door Mark Carney fundraisers hosted by Bob Rennie in 2025 and 2026, mingling with other real estate elites at events attended by 146 guests. These connections occurred while Thind projects received municipal approvals and zoning favors during the boom years. Now, with Gregor Robertson serving as federal Minister of Housing and Infrastructure, the same network announces the $3,200,000,000 package that includes buying unsold units and slashing development cost charges by up to 50 percent or $40,000 per unit. The timing reeks of reciprocal favors.

Zhen Yu Jerry Zhong of Coromandel Properties orchestrated or enabled another layer of alleged deceit. Majority owners Junchao Mo and his sons Zhao Ming Robert Mo and Zi Hao Calvin Mo, controlling about 70 percent through family trusts, accused Zhong of a fraudulent scheme that misappropriated more than $151,640,000 in invested funds. Court claims describe mismanagement, diverted sales proceeds, failure to pay accountants, landlords, the Canada Revenue Agency, and other obligations, exposing the group to further losses amid $700,000,000 in debt across more than 16 projects. Zhong, listed as sole director and officer in many entities, allegedly directed stakeholders elsewhere while neglecting core duties. The Mo family lost confidence entirely and pursued legal action, highlighting internal betrayal that compounded the sector-wide collapse. Associates like Raymond Louie still funneled donations into NDP channels, maintaining the political web even as projects failed.

Manish Sharma of Square Nine Developments oversaw the Belvedere project in Surrey and others that entered creditor protection and foreclosure. Lenders such as Cameron Stephens pursued millions in defaults, with personal guarantees exposing Sharma directly. The pattern repeats across Wave Developments figures including Shao Ming Yang, Zheng Yu Huang, and Tian Tony Zhao, whose projects like The Fifteen and Chroma faced receivership, unpaid obligations, and court non-responsiveness. These operators contributed to the glut of thousands of completed but unsold luxury and investor-focused units in Burnaby, Surrey, Coquitlam, and Richmond. No major personal scandals match the scale of Chan or Thind, yet their failures feed the same bailout demand.

Gregor Robertson @gregorrobertson sits at the center of the enabling structure. As Vancouver mayor from 2008 to 2018 leading Vision Vancouver, he presided over a party that relied heavily on real estate developer donations, often comprising more than 60 percent of funds. Thind and Chan contributions directly supported his campaigns and policies that accelerated density approvals and luxury condo towers without sufficient safeguards against oversupply or investor speculation. Robertson’s administration ignored emerging warnings about foreign buyer dependence and unit mix problems. After leaving office, his own venture at Nexii Building Solutions collapsed into creditor protection with more than $100,000,000 owed. Appointed federal housing minister under Mark Carney, Robertson now co-announces the very subsidy program that rescues the developers who funded his earlier political success. This revolving door perpetuates the cycle where private risk becomes public burden.

The $3,200,000,000 announcement on June 18, 2026, by Carney, Eby, and Robertson exemplifies the corruption of outcomes. It deploys $1,600,000,000 federal and $1,600,000,000 provincial funds to cut charges and purchase more than 2,200 vacant units for conversion to below-market rentals. This directly benefits the distressed portfolios of Thind, Chan-linked entities, Square Nine, Coromandel remnants, and others by providing government-financed exits at terms unavailable in the open market. Contractors remain unpaid, pre-sale victims sue for deposits, taxpayers absorb losses from miscalculated booms fueled by low rates and immigration forecasts, and politicians who cashed the cheques declare victory for housing supply. No accountability attaches to the jailed defier, the fund diverter, the embezzlement target, or the empire builders who networked at Trudeau dinners and Carney parties. Every name, every donation, every court evasion, and every policy favor weaves into one corrupt tapestry that prioritizes connected insiders over public interest. This bailout does not solve affordability. It entrenches moral hazard, rewards failure, and guarantees future bubbles at ever greater taxpayer expense. The public faces empty towers, higher taxes or debt, and eroded trust while these figures navigate consequences with political cushioning intact. Full forensic audits, conflict reviews, and clawbacks represent the minimum response this web of rot demands.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

Here is all the donation and fundraising information compiled for the key individuals and entities:

Helen Chan Sun and her company Landmark Innovative Homes Limited donated $10,000 to Vision Vancouver during Gregor Robertson’s mayoral tenure around October 29, 2014. This contribution directly supported Robertson’s party, which dominated real estate-friendly policies and approvals during the condo boom years.

Daljit Thind and Thind Properties contributed $30,000 to Vision Vancouver under Mayor Gregor Robertson. Daljit Thind and his son Paul Thind each donated $1,000 to David Eby’s NDP leadership campaign in 2022. Raymond Louie of Coromandel Properties donated $500 to the same Eby leadership campaign.

Daljit Thind hosted a private fundraising dinner for Justin Trudeau on April 10, 2014. The event raised approximately $45,000 for the Liberal Party of Canada.
Daljit Thind attended closed-door Mark Carney fundraisers hosted by Bob Rennie in 2025 and 2026. One such event at Rennie’s headquarters had 146 guests, with attendees paying between $0 and $1,775.

These donations and events represent direct financial and social access to the politicians now overseeing the $3,200,000,000 bailout program, including Gregor Robertson as federal housing minister. No other major donations from Manish Sharma, the Mo family, Jerry Zhong, Shao Ming Yang, Zheng Yu Huang, Tian Tony Zhao, or additional Wave/Square Nine figures appear in public records tied to these politicians. The pattern shows concentrated support flowing to Vision Vancouver, NDP, and federal Liberals from the very developers now positioned to benefit from taxpayer-funded relief.

[jstats @Devilology]

@JohnPasalis The public purse + PM Carney + the Liberals =

[jstats @Devilology]

@Howard__24 Governments just announced we are an uncompetive real estate market with buyouts. Unless risk for developers actually existsis, this bubble will bankrupt the country.

[jstats @Devilology]

@MarcNixon24 Then PM should invest all assets in Canada

[jstats @Devilology]

@CJ_Stevenson Fun track. Major elevation changes that are steep.

[jstats @Devilology]

@johnwtomkinson Mother Earth 🤔

[jstats @Devilology]

@Tablesalt13 But watch those social media posts 🤔

[jstats @Devilology]

@MarcDalton It's a secret. BN is going to corner the beef market.

[jstats @Devilology]

@valdombre Maybe all the Canadian talent fleeing for USA should be the priority?

[jstats @Devilology]

@bruce_mcgonigal Should be a disqualifying statement for the cabinet & party.

[jstats @Devilology]

@VinnysCorner1 Pavel Bure