A Canadian financial lender filed suit against California-based Yihe and its founder Steven Chen last week in the Central District Court of California, alleging the seafood company owes it at least $4 million and maybe as much as $12 million for money lent in the past four years.
According to the court documents, on June 13, one of Chen’s other companies, Chinese seafood processor Qingdao Hairong Foodstuff, borrowed the money from Tiger Bay Village Corporation. After Chen allegedly defaulted on the loan, he agreed to transfer the debt to Yihe on Sept.
