Surrey Under Pressure: Fraud, Insider Failures & Real Estate Exploitation

 🚨 Surrey Under Pressure: Fraud, Insider Failures & Real Estate Exploitation 💸🏠

Surrey, BC, is growing fast—but behind the headlines, the city is facing a storm of fraud, weak oversight, and property exploitation that’s leaving residents frustrated, anxious, and angry. 😡

💰 The $2.1 Million Fraud

In 2019, the City of Surrey was tricked into sending $2.1 MILLION to a fake account via email. The money ended up in the trust account of Ganesh Balaganthan, a former Toronto cop turned lawyer. 👮‍♂️➡️⚖️

The Ontario Law Society Tribunal found that he ignored multiple red flags and let his account become a conduit for $1.7 million of stolen money. The supposed client, Sung Hyang, may not even exist. 🕵️‍♂️❌

Most of the money was recovered, but $78,000 remains missing. This case shows that even “trusted” professionals can be manipulated when oversight fails. ⚠️

🏦 Surrey’s Internal Fraud

A former city finance clerk later manipulated dormant development-deposit accounts, sending cheques to herself, her family, or her business—$2.5 MILLION allegedly stolen.

These cases highlight serious systemic weaknesses: weak audits, lax controls, and delayed oversight. 🏛️❌

🏘️ Real Estate Pressures

On top of fraud, Surrey is experiencing historic changes in housing:

• 🌏 High levels of investment from Indian diaspora & foreign buyers.
• 🏢 Some networks of Indian-Canadian real estate agents are flipping properties rapidly.
• ⚠️ Exhortation and pressure tactics are reportedly being used on smaller owners.
• 📈 These trends have created record-high prices and concentrated property ownership—unprecedented in Surrey’s history.

⚠️ Why This Matters

The combination of fraud + weak oversight + real estate concentration is a recipe for:

• 💸 Loss of public funds.
• 🏠 Fewer opportunities for residents to buy homes.
• 😠 Increased distrust in local government.

✅ Takeaway

Surrey is a city under pressure. To protect residents, we need:

• 🛡️ Stronger internal controls & audits.
• 🔍 Transparency and accountability in city transactions.
• 🏘️ Awareness of real estate exploitation trends.

Fraud and manipulation aren’t just numbers—they affect everyone living here. Surrey’s story is a warning: trust must be earned, and vigilance is essential.