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

Proudly Surrey modifies child-care policy

Slate wants to use school board property for child-care spaces

Surrey school board wants to expand French Immersion program

District had to close program at Cougar Creek Elementary due to low enrolment

VIDEO: Scarecrow festival kicks off in Port Kells

Fourth-annual event will be on until Halloween

Delta to craft whistle-blower policy

The policy is meant to increase public trust and create support for staff in questionable situations

VIDEO: North Delta Studio Stomp back for sixth year

The annual art event has local artists opening their studios to the public this weekend

Lions earn stunning 35-32 OT win over Ticats

Epic comeback lifts B.C. past Hamilton in CFL thriller

Czarnik nets 3 as Flames dump Canucks 5-2

Calgary picks up exhibition win over Vancouver

Ottawa to name new ambassador for women, peace and security, Freeland says

Chrystia Freeland also confirmed Canada would spend about $25 million to fund number of initiatives

‘A little bright spot:’ Ottawa residents rescue dog trapped beneath rubble

Freelance journalist says rescue of a dog trapped under rubble was happy ending amid chaos in Ottawa

B.C. deaf community wants different sign languages on federal accessibility act

Advocates also want Indigenous Sign Language to be recognized on the Indigenous Language Act

Remainder of Vancouver Whitecaps season filled with ‘must-win’ games: coach

With Vancouver currently sitting four points out of a post-season spot, each contest is crucial

VIDEO: B.C.-born firefighter remembered by MP in emotional speech

Family asks first responders to look after one another in wake of suicide, growing concerns of PTSD

Airline has ‘close call’ with drone while en route to B.C. airport

Jazz Aviation reported the drone sighting near Vancouver to the RCMP and Transport Canada

Most Read