A British Columbia woman who owns a multi-million dollar property on Salt Spring Island has consented to provide information on where she obtained the funds to purchase it, following provincial allegations that the money is connected to a massive stock fraud scheme.
Consent Agreement Reached in Civil Forfeiture Case
As part of a civil forfeiture lawsuit filed in the B.C. Supreme Court, the provincial government sought an unexplained wealth order against Alicia Valerie Davenport. This legal tool, introduced in 2023, reverses the burden of proof, requiring a defendant to demonstrate the legitimate source of funds used to acquire assets when criminal activity is suspected.
Instead of contesting the application for this order, Davenport entered into a consent agreement with the court. She has agreed to supply records and information detailing the acquisition and maintenance of her home at 435 Stewart Rd. on Salt Spring Island. The property, purchased outright for $1 million with no mortgage on November 3, 2017, is now assessed at $1.639 million.
Alleged Link to $165 Million Pump-and-Dump Fraud
The province's civil forfeiture director alleges the money used to buy the home originated from a US$165-million pump-and-dump stock fraud. In such schemes, fraudsters artificially inflate a stock's price through false promotions before selling their own shares at the peak, causing massive losses for other investors.
Both Davenport, listed as a homemaker on the property purchase, and her former spouse, Geordie Lee (also known as Skye Lee), have denied the allegations. These claims have not been proven in court. Davenport asserts the funds came from a divorce settlement.
Under the consent order, Davenport was given until mid-December 2025 to provide the required information, including the location of original documents. The B.C. Ministry of Public Safety and Solicitor General declined to comment on whether the information has been submitted, citing the ongoing court proceedings. Details provided in response to unexplained wealth orders are not filed publicly.
B.C.'s Crackdown on Illicit Finance
The Davenport case marks one of only four unexplained wealth orders filed by the province since the B.C. NDP government enacted the new laws in 2023 to combat money laundering and financial crime. The courts have already ruled in the province's favour in two other cases: one involving millions in a lawyer's trust account and another tied to an alleged illegal cannabis operation.
In her initial court filings, Davenport argued the order was unnecessary, as the information could be obtained through standard discovery processes. However, she later agreed to the consent order to avoid a protracted legal battle over the issue, with her counsel stating she had "no interest in wasting time and expense arguing over the issue."
The outcome of this case is being closely watched as a test of British Columbia's strengthened arsenal against the proceeds of crime entering its real estate market and economy.
