It can't be both.... The monitor wants to say fraud while simultaneously Mr. Chan from the opulence of his accommodations says that he has all the land and all the forests that he all along said that he has.
The opulence of his accomodations indicates where much of your money went. It is not an indication that no fraud existed. And of course he says that TRE has all of the land & forests as reported in the F/S... would you expect any less? How long will this dead horse be beaten?