Suspended B.C. real estate agent took over, renamed company owned by murdered Hells Angel

Balpreet Singh Bal—the B.C. real estate agent whose licence was suspended and accounts frozen earlier this month over alleged misconduct—is the sole director and CEO of a company once owned by a Hells Angels member who was murdered in 2019.

Bal’s lawyer Jaspreet Singh Malik says he’s not aware of any evidence his client knew who the gang member was when he acquired the company, dismissing any connection between the two men as “pure speculation.”

Bal and companies he controls have also been involved in at least two dozen civil lawsuits over the last eight years, a history that forms the backdrop to the B.C. Financial Services Authority’s ongoing investigation.

The regulator issued a “consumer alert” about Bal on Nov. 6, noting that he is under investigation for alleged “mishandling of trust funds, deceptive dealing, failing to maintain brokerage records and offering mortgage and investment services without registration.”

Four real estate companies Bal owns—Bal Realty Services Inc., Amex-Fraseridge Realty, Jovi Realty and Lighthouse Realty Ltd.—have had their accounts frozen while the investigation is ongoing.

The allegations against Bal have not been proven, and Malik told CTV News via email that his client “respects the BCFSA’s authority” and is “fully co-operating” with the regulator.

A. Grewal Holdings

Suminder “Allie” Grewal was shot dead while waiting at a Starbucks drive-thru in Surrey on Aug. 2, 2019.

At the time, police described the victim as “a well-established member of an organized crime group.” Sources confirmed to CTV News that he was a member of the Hardside chapter of the Hells Angels.

Grewal’s killers—Calvin Junior Powery-Hooker and Nathan James De Jong—were sentenced in 2021 to life in prison with no chance of parole for 20 years after pleading guilty to second-degree murder. They told the court they had been asked to kill Grewal in exchange for the forgiveness of debts.

Police officers surround a car that’s covered in tarps following the fatal shooting of Suminder “Allie” Grewal in Surrey, B.C. on Aug. 2, 2019. (CTV News)

On the same day Grewal was killed, the name of a company he once owned was changed from “A. Grewal Holdings (2016) Ltd.” to “1083814 B.C. Ltd.”

At the time the company’s name changed, its sole director was Balpreet Singh Bal, who had replaced the company’s former directors—Suminder and Nardeep Grewal—in April 2019, less than four months before the killing.

Bal remains the company’s only director and officer, according to B.C.’s corporate registry.

CTV News sought an interview with Bal by reaching out to his lawyer, but Malik declined on his client’s behalf.

Asked about Bal’s relationship with Grewal, and whether the former was aware of Grewal’s Hells Angels membership, Malik noted that a person can be well known in some circles and unknown in others.

“I have been retained by many clients who tell me about the opposing party being a notorious person and I have never heard of them, and vice versa,” Malik said, in an email.

“I am not aware of any evidence that Mr. Bal knew who Mr. Grewal was. If you have that, please let me know. Otherwise, it appears to be pure speculation.”

To be clear, CTV News has not seen any evidence of the type Malik described. When CTV News pointed out that Bal would be best positioned to explain how he learned about Grewal’s company, how he determined it was available to acquire and why he chose to acquire it, Malik did not respond further.

Suminder “Allie” Grewal, left, is seen in this file photo from social media.

Allegations against Bal

The BCFSA’s orders suspending Bal’s licence and freezing his companies’ accounts enumerate a variety of alleged misconduct, which the regulator found established a “prima facie” case justifying sanctions against him while the investigation remains ongoing.

The allegations from the BCFSA documents have not been proven.

According to the BCFSA, Bal is alleged to have improperly withheld a $2.75 million deposit that ought to have been paid out of one of his companies’ trust accounts when a real estate deal did not go through.

Bal is also accused of creating an intentionally misleading document that purported to show the buyer in the deposit case had $14 million worth of funds available to them in India with which to complete the transaction.

The BCFSA alleges that Bal agreed to sell his personal home for $2.35 million—despite the home being subject to foreclosure proceedings that made the sale unlikely to go through—then used a $600,000 deposit he received in the deal “for his own purposes.”

One of his companies is also subject to a garnishing order from the CRA, according to the BCFSA, which alleges that Bal has been holding funds in trust accounts to avoid them being seized to fulfill unpaid tax obligations.

Beyond these allegations from the BCFSA, CTV News has identified at least two dozen civil cases that appear to involve Bal himself, one of the brokerages he controls, or one of several numbered companies Bal directs.

A few themes come up repeatedly in the cases in which Bal or one of his companies is a defendant.

Several of the cases CTV News has reviewed allege unpaid debts. Several others involve the foreclosure of properties Bal either owned personally or through one of his companies.

In multiple cases, the plaintiffs sought—and were granted—alternative service arrangements after being unable to serve court documents to Bal directly.

One particularly notable case was brought by Nachhattar Singh Sra and Balwinder Kaur Sra against Bal Realty Services Inc., Fraseridge Realty Ltd., 1069898 B.C. Ltd. and Bal himself.

In their claim, the Sras allege that Bal knowingly made false representations to them regarding a $500,000 investment that he said would be used to acquire a home on Vancouver’s West Side. The couple alleges that Bal instead used the funds for his own purposes, including putting them toward the purchases of two additional properties that were not part of the purported investment plan.

The Sras’ claim seeks $500,000 in damages, plus ownership interests in all three properties and an accounting of what the proceeds of $2 million worth of mortgages borrowed against the three properties were used for.

Bal filed a response to the Sras’ claim, denying all wrongdoing.

The case has similarities to two others CTV News reviewed. In 2020, Natara Development Inc. filed a lawsuit alleging that it had loaned $300,000 to a numbered company owned by Bal in exchange for a 20-per-cent interest in the same West Side address named in the Sras’ claim.

The Natara Development case was settled, with Bal and his company agreeing to pay more than $380,000 to the plaintiff.

Similarly, a 2021 claim filed against Bal and one of his companies by Jaspreet Batra alleges an agreement between the parties that would see Batra’s numbered company loan Bal and his company money for investing in real estate.

Bal filed a response to the claim denying any such loan agreement existed, and alleging that the arrangement called for Batra to be repaid only if the sale of a White Rock property turned out to be profitable, which it did not.

None of the allegations listed here have been proven in court, a fact Malik pointed out in his response to CTV News questions about his client’s litigation history.

“The BCFSA’s recent allegations are just that: allegations,” Malik’s statement reads.

“They are not conclusive findings against Mr. Bal or the named brokerages. That said, Mr. Bal respects the BCFSA’s authority and their obligation to the public, and is taking all necessary steps to comply with their directions and is fully co-operating with the BCFSA. The allegations both against and advanced by Mr. Bal and the brokerages are subject to litigation and will be resolved in a court of law, not the court of public opinion.”

Amex-Fraseridge Realty’s office on Victoria Drive in Vancouver is seen in this photo from a real estate listing. The property is subject to a court-ordered sale. (collierscanada.com)

Jovi and Lighthouse

While Bal Realty and Amex-Fraseridge each have only one real estate licensee—Bal—associated with them in the BCFSA’s online directory, both Jovi and Lighthouse appear to be larger firms, with dozens of licensees affiliated with them.

The two companies were also fairly recent acquisitions for Bal. According to corporate records, he became the sole director of each company in April 2024.

He ceased being a director of both companies on Nov. 4 of this year, a move BCFSA hearing officer Gareth Reeves described in his reasons for freezing the companies’ assets as Bal “somewhat precipitously” trying to distance himself from the companies.

Replacing Bal as the sole director of both companies was Parminder Sondhi, whose address listed in corporate records is the same as Jovi’s Vancouver address.

While Bal told regulators he was “no longer involved” with either company, Reeves remained skeptical, writing in his reasons that “Mr. Bal’s divestment might not be entire.”

Notably, on Nov. 8, the registered office address for both Jovi and Lighthouse was changed to a residential property on 148 Street in Surrey. The address matches one identified in court documents as Bal’s personal home.

According to the BCFSA, the managing brokers for both companies told investigators they did not have signing authority over their companies’ trust accounts. B.C.’s Real Estate Services Act requires managing brokers to retain such authority.

While the BCFSA’s freeze orders don’t name the managing brokers, their names are publicly available on the regulator’s website. Jovi’s managing broker is Ralph Frederick Oakes and Lighthouse’s are Colin Ross McDonald and James Robert Thiessen.

Oakes did not respond to attempts to reach him for comment.

Lighthouse provided a statement to CTV News noting that it has “fully co-operated” with the BCFSA’s investigation and that “sales completions have been proceeding as normal” during the freeze, thanks to the provincial Special Compensation Fund that protects the public from financial losses due to real estate licensee misconduct.

“Our internal reconciliations have now confirmed that none of the Lighthouse funds are missing,” the company said.

“Lighthouse Realty staff have been working around the clock to support our clients and Realtors while working closely with the BCFSA process.”

Asked why the brokerage was sold to Bal in the first place, and whether the sellers were aware of Bal’s outstanding court cases—most of which were already ongoing by the time of the sale—Lighthouse said its goal in the transaction was to maintain its independence and continue building its brand.

“Throughout the sale of Lighthouse Realty, Mr Bal was represented by a third-party real estate brokerage who recommended him as a ‘serious buyer who was in expansion mode looking to acquire several smaller brokerages like ours,’” the statement reads.

“Prior to the sale, we confirmed that Mr. Bal had been a longstanding member of the Vancouver Real Estate Board, held an active managing broker license with BCFSA, in addition to personal enquiries that did not raise any concerns.”

The company added that it has been “overwhelmed” by the support it has received since the freeze orders took effect.

“It is unfortunate that the actions of a single individual can affect not only the company ‘brand,’ but the lives of all the hard-working individuals who have chosen to pursue careers at Lighthouse Realty,” the company said.

“As the process progresses, we will continue to try to support our clients and staff to our utmost.”

Source: CTV News