The plaintiff, PPI Management Inc., sought to extend a Mareva injunction against the defendant Tianrui Li, freezing a Guaranteed Investment Certificate (GIC) alleged to be proceeds of a fraudulent scheme.
Li argued the initial injunction lacked foundation, that PPI made material non-disclosures, and that her evidence explained her actions, denying knowledge or involvement in the fraud.
The court found PPI established a strong prima facie case of Li's implication through recklessness or willful blindness, and a serious risk of asset dissipation.
The court dismissed Li's arguments regarding non-disclosure and continued the Mareva injunction until the final disposition of the underlying action, with costs awarded to the plaintiff on a partial indemnity basis.
