Fake bank exchange system: Man Show sold Porsche to fraudsters tells cautionary tale

A man from British Columbia’s Lower Mainland who was scammed while selling his Porsche Cayenne online is sharing his cautionary tale – while calling for more government protection.

The RCMP announced last week that Mehrdad Ebrahimnezhad was among the victims of a recent fraud scheme targeting both individuals and dealers selling high-end cars.

Authorities said three suspects used counterfeit bank checks to purchase 16 vehicles, with the victims’ total losses reaching more than $850,000.

Ebrahimnez had sold his Cayenne for $87,000 – only to learn that the cashier’s check he received from the buyer he met through Facebook Marketplace was counterfeit.

“I didn’t even know there were counterfeit bank checks in Canada,” he said. “I’m originally from Iran, they have a central bank system, they can check whether a bank check is fake or not.”

In Canada, only the issuing bank can immediately determine whether a bill of exchange is a counterfeit.

Ebrahimnezhad was also frustrated when he discovered that the buyer had presented a stolen ID card when they went together to an ICBC-affiliated Autoplan dealer to fill out vehicle handover forms.

The employee looked at the ID but never checked to see if it was real or asked for a second ID – which is not required under British Columbia law.

“When I asked them, they said they don’t have an identity verification policy,” Ebrahimnezhad said. “If you’re transferring a title, why wouldn’t you ask for identity verification?”

In a statement, ICBC acknowledged that the seller was in a “very stressful situation” but said it was up to buyers and sellers to protect themselves in these transactions.

“This unfortunate case is a reminder to anyone selling or buying a used vehicle to do their research and take every precaution to avoid fraud,” a spokesman said.

ICBC also reiterated the RCMP’s recommendation to verify bank checks with the original financial institution before completing a sale.

Three suspects – Ka Tin Hong, Shing Wai Wong and Pui Hei Chu – face 30 criminal charges in connection with the purchases, including fraud over $5,000, identity crimes and ordering the commission of a crime for a criminal organization.

Authorities said they also seized 10 of the 16 vehicles allegedly purchased with counterfeit designs – including Ebrahimnezhad’s after he discovered the vehicle for sale through a dealer.

He assumes that the investigators have led to the suspects.

“When I reported my car to the RCMP, they got there and the dealer said the person was bringing another car,” he said. “They tracked down the seller and apprehended the group.”

Although his situation could have ended much worse, Ebrahimnezhad said he had to pay a lawyer $7,000 to ensure he got his Cayenne back from the dealer, which also resulted in the loss of tens of thousands of dollars he had paid in cash for the vehicle had paid.

He is considering a lawsuit against the government, arguing that a simple additional review could save others like him from being taken for a ride.

“They need to update their system, they need to update their policies,” Ebrahimnezhad said. “Because fraudsters know how the system works.”