Toronto lawyer ordered to pay more than $1M after clients said he kept money from real estate, business deals
CBC
A now-suspended and retired Toronto lawyer hasn't paid two sets of clients more than $1 million the courts have ordered he pay after they sued him for keeping the proceeds from the sales of their home and business.
Xiaolong Zhang and his wife sold their auto parts distribution business in Vaughan, Ont., at the end of last year to fund their retirement.
They said they hired Ping-Teng Tan to handle the sale because they trusted him after using him for previous legal work.
The business sold for more than $520,000 and the money was transferred to a trust account set up by Tan's law firm, Tan & Associates.
But, despite calls, texts, an in-person visit and a legal demand, Tan hasn't transferred the money to Zhang and his wife.
"Instead of peaceful days and financial security, we are living a nightmare," Zhang said. "We felt deep anguish and betrayal as someone we trusted with our future had deceived us."
Tan did not respond to CBC Toronto's requests for comment for this story on his personal email and cellphone. His law firm email has been shut down and the phone number is not in service.
Zhang and his wife sued Tan in March and because he didn't file a statement of defence, an Ontario Superior Court judge found him in default and ordered he pay Zhang and his wife more than $534,500 for the money owed plus legal costs.
But Zhang hasn't received the money.
"Ping-Teng Tan's actions robbed us of our money and our dream of the retirement we worked so hard to achieve," he said.
Tan, who Zhang says is well-known in Toronto's Chinese community, is facing two other lawsuits from clients who claim he kept proceeds from two real estate transactions. In one, another default judgment was ordered that Tan has also yet to pay. The second is still before the courts.
In her decision in Zhang's case, Ontario Superior Court Justice Jill Cameron said it's clear Tan is in breach of contract, trust and fiduciary duty.
"It appears as though Mr. Tan has been dishonest, having likely misappropriated or dealt with the transaction proceeds, which were to be held in trust for the applicants," the decision reads.
Zhang has also filed a report with York Regional Police.
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