The British Columbia Financial Services Authority (BCFSA) issued urgent orders suspending Balpreet Singh Bal and Fraseridge Realty Ltd. (operating as Amex-Fraseridge Realty) from providing real estate services, and ordered freezes on the accounts, including trust accounts, of Fraseridge Realty Ltd., Bal Realty Services Incorporated, Jovi Realty, and Lighthouse Realty Ltd. BCFSA also published a consumer alert for individuals who may have deposited funds with Bal’s companies or have funds in trust at Jovi Realty or Lighthouse Realty. The freeze orders are intended to preserve trust funds while BCFSA continues an active investigation into alleged mishandling of trust funds, deceptive dealing, failures to maintain brokerage records, and offering mortgage and investment services without registration. Consumers whose funds are impacted may be eligible for support from the Special Compensation Fund, with BCFSA stating it will expedite applications. Real estate licensees working under Jovi Realty and Lighthouse Realty Ltd. may continue providing real estate services and advise clients on any funds held in trust at the brokerage. BCFSA’s investigation remains ongoing, and it stated it will pursue penalties for any contraventions of the Real Estate Services Act once the investigation is complete. Under the Act, the maximum financial penalty is CAD 250,000 for individuals and CAD 500,000 for corporations, assessed per contravention.
British Columbia Financial Services Authority 2025-11-06
British Columbia Financial Services Authority suspends Balpreet Singh Bal and freezes trust accounts at four real estate brokerages
The British Columbia Financial Services Authority (BCFSA) has suspended Balpreet Singh Bal and Fraseridge Realty Ltd. from providing real estate services and frozen accounts of related companies amid an investigation into alleged trust fund mishandling and unregistered services. A consumer alert has been issued for those with funds in the affected companies, and impacted consumers may seek support from the Special Compensation Fund. BCFSA will pursue penalties under the Real Estate Services Act, with fines up to CAD 250,000 for individuals and CAD 500,000 for corporations per contravention.