Sunday, March 29th6.4°C
25490
24949

Alberta securities regulator accuses 2 Wongs Make It Right of bilking investors

EDMONTON - Alberta's securities regulator is accusing a company called 2 Wongs Make It Right Enterprises of getting it wrong.

The Alberta Securities Commission alleges the Edmonton-based company improperly raised almost $7.8 million from 46 investors for real estate developments in the capital region.

The directors of 2 Wongs face allegations of fraud, acting as advisers without being registered and trading securities without filing a prospectus.

The commission says some money has been paid back to investors, but $4.4 million remains unaccounted for.

Khom Wong and Janeen Wong are to appear before a commission hearing in Calgary June 11 on five allegations

The maximum penalty for any breach is a $1 million fine and a lifetime ban from trading securities in Alberta.

Other affiliated companies named in the action include Integrity Plus Management, Canreig Edmonton and 1409779 Alberta.

The Canadian Press


Read more Business News

25607


Recent Trending




Today's Market
S&P TSX14812.42-57.38
S&P CDNX681.43+1.87
DJIA17712.66+34.43
Nasdaq4891.22+27.86
S&P 5002061.02+4.87
CDN Dollar0.7928-0.0082
Gold1196.30-8.80
Oil48.43-3.00
Lumber282.40-3.60
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.219+0.009
Metalex Ventures0.04-0.01
Russel Metals24.50-0.18
Copper Mountain Mining1.13+0.00
Colorado Resources0.125+0.010
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.255+0.020
Decisive Dividend Corporation1.80+0.02

 





FEATURED Property
17877381910 Hidden Lake Place, Kelowna
4 bedrooms 4 baths
$1,195,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...


Stay out of sales limbo!

Have you ever had a series of good meetings with a prospect … gathered all kinds of information … and given what you thought was a great presentation … only to receive a response ...

_








Member of BC Press Council


24598