Bob Mackin
British Columbia’s insurance industry regulator cancelled a Toronto-area socialite’s licence after she falsely claimed to have a Master of Business Administration degree from a Canadian university.
Respon Wealth Management’s Hong Wei (Winnie) Liao, who frequently attends events with Canadian politicians and Chinese diplomats, testified at a November 2023 hearing that she had the diploma and transcript from York University.
But an Insurance Council of B.C. (IC) investigation determined the documents were fake and found Liao attempted to mislead the committee. So it cancelled Liao’s life and accident and sickness insurance licence in May 2024 for a three-year period. In a March 2025 order, the penalty was extended to five years, through May 28, 2029.
York University’s main campus (York U.)
Due to the code of conduct violation, Liao is barred from being a controlling shareholder, partner, officer or director of any licensed insurance agency in B.C. The ruling said she did not oppose the council’s $25,000 fine and $54,864.28 in costs, payable by June 2, nor did she oppose the condition that IC will not consider Liao’s licence application until the fine and costs are paid in-full.
Liao’s representatives, including lawyer William Smart, did not respond to questions from theBreaker.news. IC spokesperson Melinda Lau would neither confirm nor deny Liao had paid by the June 2 deadline.
Liao testified during a five-day, July 2024 IC hearing that she grew up in Hunan Province, obtained a bachelor’s degree in management engineering from Central South University and undertook part-time studies for a master’s degree at Southwest Jiatong University the year before immigrating to Canada in 2000. Liao eventually received a master’s degree in transportation management in 2004.
Paid for documents
Liao also testified that she met a man, identified as Mr. M in the ruling, at Canada Hunan Fellow Association “Blue Sky Club” business networking meetings in 2002. Mr. M purported to be an agent for multiple universities and president of an association that helped foreign students apply to schools and convert their certificates. Liao said he convinced her that he could match her Chinese degree with a Canadian equivalent, but she does not remember how much she paid to receive the documents in 2005.
Hong Wei (Winnie) Liao with Prime Minister Justin Trudeau (Respon)
“She testified that she did not believe that she had an MBA from York University, and acknowledged that this would have been impossible as she did not attend or study at York,” said the ruling. “She specified that, at the time she received the York documents, she did not even know what the MBA program was.”
Liao has frequently sponsored Metro Vancouver events with cultural and business associations affiliated with the People’s Republic of China consulate. The Respon corporate video shown at banquets features clips of Liao and various politicians, including Prime Minister Justin Trudeau.
The Elections Canada database shows North York, Ont.-resident Liao has donated more than $28,000 to the Liberal Party, including $1,000 to Trudeau’s Papineau riding association in 2014.
One of Liao’s other entities, Botrich Famliy Wealth Heritage Development Center, announced in April via PR Newswire that she received the King Charles III Coronation Medal from Liberal MP Shaun Chen (Scarborough North).
Separately, in May, Ontario Superior Court forced Liao to forfeit a $1 million surety after daughter Lucy Li was found to have broken bail conditions in 2023. Li and husband Oliver Karafa were convicted last year of the 2021 Hamilton first degree murder of Vancouver drug dealer Tyler Pratt, who invested in Karafa’s personal protective equipment enterprise.
