Lawsuit targets Newmark-linked properties

A lake-front house was allegedly bought with Murrayville House loans.

A Langley developer and his wife allegedly diverted funds intended for local construction to the purchase of several other multi-million dollar properties, a lawsuit is claiming.

Forjay Management and Reliable Mortgages Investment Corporation launched a lawsuit against Natalie Lauren Chandler, 208th Street Yorkson Ventures, and a pair of numbered companies on March 9.

The two plaintiffs loaned more than $34 million to the Murrayville House condo project. The condos were eventually built, but the long-delayed project collapsed under lawsuits and is now in the hands of a court-appointed receiver.

Forjay and Reliable allege that money from the Murrayville House loans was used to pay for a $4.25-million waterfront home in Kelowna, owned by Natalie Chandler.

The lawsuit claims at least $1,023,756 put towards the purchase, mortgage, or improvements to the home came from the numbered company that owned the condo site.

At least two other valuable properties were also allegedly purchased or improved using at least some money from the Murrayville House project.

The first is a project on the south-east corner of 208th Street and 80th Avenue, which is currently owned by a company called 208th Street Ventures. It was purchased for $12.44 million.

The second is a lot in the 20300 block of 86th Avenue, close to the Carvolth Transit Exchange. That land was purchased for $6.675 million by a numbered company.

All of the numbered companies involved, and 208th Street Yorkson Ventures, are allegedly controlled by Mark Chandler and his Newmark Group of companies.

None of the allegations has been proven in court.

At least one of the properties, at 208th Street, appears to be in the process of being sold.

The creditors claim that the money advanced to the Murrayville House project should have been held in trust and “were to be used only for the purposes of purchasing the Murrayville lands and construction the residential development…”

The creditors’ lawsuit asks for an order that Natalie Chandler and the companies pay back all the money from the loans in their possession, an accounting of all the cash transferred, and punitive damages, among other requests.

Just Posted

SBOT CEO ‘disappointed’ as Surrey council moves to cut $30K from proposed grant

Council has proposed a Surrey Board of Trade grant be reduced to $10,000, after staff recommended a $40,000 grant

Community steps up to get Sources’ food bank truck on the road

Individuals, businesses help fix vehicle that had been damaged by theft

Rainstorm drenches Lower Mainland as snow falls on the Sea-to-Sky

Heavy rains, snow expected till Friday morning

Teen writing workshop planned for Cloverdale Library

Free workshop part of library’s teen writing program

Man climbs tree to evade police after Surrey RCMP called to domestic dispute

The man was 60 feet up the tree for hours, according to a Black Press freelancer at the scene

Cannabis gift ideas for this holiday season

Put the green in happy holidays, now that cannabis is legal in Canada

Woman forcibly confined, sexually assaulted between Creston and Cranbrook

The suspect forced the woman into her vehicle before driving along Highway 3

‘I thought I was dead as soon as I saw the gun’

Keremeos gas station attendant tells story about man with gun coming to store

5 to start your day

Torched-SUV victim from Surrey ‘had the purest heart,’ TransLink will bring free WiFi to buses, SkyTrain and Seabus by 2020 and more

‘People talk about deep sadness:’ Scientists study climate change grief

Some call it environmental grief, some call it solastalgia — a word coined for a feeling of homesickness when home changes around you.

As protectors abandon Trump, investigation draws closer

Cohen was sentenced Wednesday to three years in prison for an array of crimes.

Senate delays start of sittings in new home, delaying start of broadcasts

The Senate and House of Commons are moving into temporary homes for the next decade as a result of long-planned and badly needed renovations to the Centre Block.

UK leader seeks EU lifeline after surviving confidence vote

EU leaders gather for a two-day summit, beginning Thursday, which will center on the Brexit negotiations.

BCHL’ers blanked by Russia at World Junior A Challenge

Canada West loses battle of the unbeaten teams in the preliminary round

Most Read

l -->