A large crowd of angry customers who have given Indo-Canadian Money Exchange owner Tarlochan Singh hundreds of thousands of dollars to send to their homeland gathered in front of his multi-million dollar home in North Delta recently to demand return of their money after accusing Singh of ripping them off by not sending their hard earned money to family members and friends who desperately need it. Another victim Rajwinder Singh, who works in construction, told DESIBUZZCanada Thursday that he and other victims continue calling him but Singh never picks up the phone.  “I’m so frustrated by all this but there is nothing we can do other than embarrass him which we have done but Tarlochan Singh is a totally shameless man. I don’t know how he can live with himself by not returning our hard earned money,” Rajwinder told DESIBUZZCanada.

By DESIBUZZCanada Staff With News Files

SURREY – A large crowd of angry customers who have given Indo-Canadian Money Exchange owner Tarlochan Singh hundreds of thousands of dollars to send to their homeland gathered in front of his multi-million dollar home in North Delta recently to return their money after accusing of ripping them off by not sending their hard earned money to family members and friends who desperately need it.

One of the victims is Gurdev Singh Billg who tried to send just over $8,200 to India to help out a friend in need, but the money exchange company never sent it.

Billg and fellow victims, total numbering 30 customers, gathered at Singh’s house located at 11886 Gilmour Crescent, Delta, along with members of the Punjabi media to plea their cases that they desperately need the money returned.

Bilig feels he and other victims have been duped by the Indo-Canadian Money Exchange, whose owner admits he owes up to $400,000 to people whose money did not reach their intended recipients in India.

Billg said the owner, Tarlochan Singh, assured him he would be reimbursed for the money he tried to send months ago — but that hasn't happened.

"He promised to me he had some bad situation," Billg said. "He said, 'give me 14 days,' but after I'm waiting 14 days, he never sent [the money] again," he said. 

He said his friend in India needs the money, but he keeps getting the runaround from Singh. 

Billg says he arranged a bank draft for the amount, which he then gave to the exchange to transfer. He said he had used the service in a similar way for four or five years and hadn't had any problems previously. 

Another victim Rajwinder Singh, who works in construction, told DESIBUZZCanada Thursday that he and other victims continue calling him but Singh never picks up the phone. 

“I’m so frustrated by all this but there is nothing we can do other than embarrass him which we have done but Tarlochan Singh is a totally shameless man. I don’t know how he can live with himself by not returning our hard earned money,” Rajwinder told DESIBUZZCanada.

Many Indo-Canadians send money to India to support friends and family. Many use currency exchanges because they tend to provide better exchange rates and lower fees compared to banks and money transfer companies such as Western Union and MoneyGram.

Singh told CBC that he owes between $350,000 and $400,000 to about 30 customers who, like Billg, used the exchange to send money to India.

Singh has promised to return the money and blamed the problem on a mix-up in India, but wouldn't go into specifics.

"I have called everyone affected," said Singh, speaking to CBC News in Punjabi, referring to those who have lost their money. 

Meanwhile, Indo-Canadian Money Exchange, which is on 80th Avenue, has been closed for more than a month. 

Surrey RCMP are investigating the case and confirm they've received reports from the public alleging they were victims of fraud at a money exchange business in Surrey. 

But Billg said he can't afford to take the case to court. His only hope is if Singh stands by his promise to pay back the money.

In Canada, money service businesses have to register with the Financial Transactions and Reports Analysis Centre of Canada, the nation's financial intelligence unit responsible for deterring money laundering and terrorist financing.

However, only Quebec has a provincial licensing system for such businesses. 

A provincial report on money laundering released earlier this year and written by retired Mountie Peter German recommended the province regulate money transfer and money exchange businesses.