A B.C. Supreme Court judge has declared a disputed forfeiture settlement agreement is binding in a case involving a man who was targeted by a $220-million money-laundering investigation and accused of washing money through Vancouver real estate.

In a lawsuit that has been winding through the courts for more than six years, Stephen Hai Peng Chen, also known as Hai Peng Chen and Hoy Pang Chan, was accused of using money obtained from drug trafficking to buy a Vancouver house and a condo that are now assessed at $3.3 million. Both properties are mortgage free.

Chen and his parents, Xiong Guang Chen and Jue Ming Chen, reached a settlement agreement to end the forfeiture case after the parents sought mediation. Minutes of the settlement deal were signed on Dec. 18, 2024, by Chen, his paren

See Full Page