MP raises red flag on Retirement Concepts sale

By James Peters
February 23, 2017 - 12:00pm

Kamloops-Thompson-Cariboo MP Cathy McLeod says the impending sale of Retirement Concepts to a multi-level Chinese company raises a series of red flags.

Retirement Concepts owns Kamloops Seniors Village, among several other seniors residences in Canada.

McLeod says residents have been contacting her, wondering who exactly will own their home.

"There is a company which was created in July, which is the company of the transaction. There is Anbang Insurance, which is in China. Then there is the ownership, and it is so murky that Morgan Stanley decided not to business with this company because the flow of the ownership was way too murky." said McLeod. 

McLeod notes a Chinese lobbyist bragged about talking to Prime Minister Trudeau last year about potential investment at a cash-for-access fundraiser.

She says no government business is permitted at these fundraisers.

Public pipeline talk scheduled for tonight in Kamloops