A Surrey couple who lost more than $200,000 to a realtor who purchased an Aldergrove property in his name will finally receive their money back, plus interest, ordered the Supreme Court of British Columbia on Jan. 24. The realtor is also facing several unrelated assault charges.
Honourable Justice Marzari found that Alden Ashneil Chand, who worked for Surrey-based Century21 Coastal Realty Ltd. at the time, breached his agreement with Surrey couple Amandeep Kaur Rahil and Jagvil Singh Rahil as their realtor and misappropriated funds entrusted to him by the couple for property investment.
Chand was ordered to pay a total of $285,800 to the Rahils, including $215,000 which was the total advanced by the Rahils to Chand; $42,000 in interest the Rahils had to pay on a loan; punitive damages of $25,000; and pre-judgement interest of $3,800.
The couple met Chand in 2018, not long after he obtained his realtor license, when he asked the couple, whom he lived across the street from, if he could display a for-sale sign on their front lawn for a week to give him exposure. The Rahils agreed, as "they found him to be friendly" but had no intent to sell their house.
Some time after, the couple asked Chand if he might have driving work for Mr. Rahil, who worked as a driver for a window factory. Instead, Chand told them if they gave him between $10,000 to $15,000 he would invest it in a Surrey property for sale and give them the profit.
Believing Chand, the couple took out a bank draft for $15,000 that they had saved for their children's education, and signed a contract saying the money was "for a deposit" on a Surrey property selling for $340,000.
One month later, Chand told the Rahils he had an offer on the property for $360,000 and that they had made a $20,000 profit. He advised them they had nothing further to sign.
The property did sell, but to unrelated third parties for $346,000.
Instead, Chand had deposited the $15,000 into his own account rather than to a trust account that he "most likely used towards the deposit of his own purchase of the [Aldergrove] property," wrote Marzari.
Chand then encouraged the Rahils to take out a line of credit on their home to further invest the money into a property sale in Kelowna.
He told them the interest would not be very much because it would "not be very much because they would get their money back within a month."
"He repeatedly told them to trust him, and words to the effect that: 'I just started my business, I am not going to cheat you," the judge wrote.
Trusting him, the couple borrowed $200,000 against their home to invest a total of $235,000 into the Kelowna property.
One week later, Chand purchased the Aldergrove property in his own name, and that of his uncle.
Six months later, the Rahils learned of Chand's Aldergrove purchase, and after repeated attempts to retrieve their money, they took the matter to court.
In their lawsuit, the Rahils allege Chand breached his fiduciary duty, and is liable in contract and unjust enrichment to them for renting out the Aldergrove property he purchased with their funds.
After several attempts to adjourn his trial – through non-specific doctor's notes and dental issues, and his absence – Chand was ordered to pay back the $215,000 he received from the Rahils as their realtor.
He was also found to be responsible for the $42,000 interest payments made on the line of credit.
Additionally, he has to pay $3,800 of pre-judgement interest on the $15,000 advance first given to him.
Punitive damages of $25,000 must also be paid by Chand.
"In my view, Mr. Chand’s misconduct in this case is particularly repugnant and appropriately attracts an award of punitive damages for the purposes of denunciation and deterrence," Marzari wrote.
"Compensatory damages alone are insufficient to express the court’s repugnance at Mr. Chand’s misconduct."
Chand is no longer listed on Century21's website as a realtor.
Chand is also facing several unrelated assault charges in Surrey from Feb. 25 and May 17 of 2023; a breach of undertaking charge from April 1, 2024; and a charge of an attempt to obstruct justice from a May 1, 2024, incident.
He is scheduled to appear in court in September this year.
