Enforcement Roundup – June 2017

Enforcement Roundup – June 2017

This edition of the Enforcement Roundup covers two British Columbia Securities Commission (BCSC) criminal investigations, two panel decisions, and two notices of hearing.

BCSC Criminal Enforcement

Rui Armando Figueiredo, a.k.a. Roy Figueiredo

Figueiredo was arrested on June 13, 2017, following an investigation by the BCSC’s Criminal Investigations Branch, with assistance from Surrey RCMP. The warrant for his arrest was issued in connection with multiple charges against Figueiredo under the Securities Act. He was arrested in Burnaby, B.C., with assistance from Burnaby RCMP.

Figueiredo is currently charged with three counts under the Securities Act of breaching the Commission order.

Figueiredo was denied bail and is detained pending a trial.

Won Sang Shen Cho, a.k.a. Craig Cho, Kevin Kim, and Jae Hoon Kim

Cho was arrested on June 13, 2017, following an investigation by the BCSC’s Criminal Investigations Branch. The warrant for Cho’s arrested was issued in connection with multiple charges against Cho under the Securities Act. He was arrested at his residence in Vancouver with assistance from Vancouver Police.

Cho was released on cash bail on June 14, 2017.

BCSC Panel Decisions

David Tuan Seng Lim, Michael Mugford, and EuroHelvetia TrustCo S.A. now known as EHT Corporate Services S.A.

A BCSC panel found that Lim and Mugford engaged in market manipulation by creating an artificial share price for a company called Urban Barns from November 2009 to February 2010.

Lim, a Vancouver resident, was an investment advisor who was registered under the Securities Act during the relevant period. Mugford is a Lions Bay, B.C., resident who was a client and business associate of Lim.

In the same decision, the panel dismissed market manipulation allegations against Swiss wealth management firm EuroHelvetia TrustCo S.A. (now known as EHT Corporate Services S.A.).

The panel directed the parties to make submissions on sanctions according to the schedule set out in the findings.

Volkmar Guido Hable

A BCSC panel found Hable engaged in market manipulation and submitted false information to the Commission. Hable was a Whistler, B.C., resident and executive vice president of mining and exploration of Samaranta Mining Corporation during the period relevant to the findings.

The panel directed the parties to make submissions on sanctions according to the schedule set out in the findings.

BCSC Notices of Hearing

DominionGrand II Mortgage Investment Corporation, DominionGrand Investment Fund Inc., Donald Bruce Edward Wilson, David Scott Wright, and Patrick K. Prinster

The Executive Director of the BCSC issued a notice of hearing alleging that three B.C. residents and two companies they controlled committed fraud. You will find more information in the hearing file.

Mountainstar Gold Inc. and Brent Hugo Johnson

The Executive Director of the BCSC issued a notice of hearing alleging that Mountainstar Gold Inc. made false or misleading statements in its required public filings. The notice also alleges that, as an officer and director of Mountainstar, Johnson is liable for Mountainstar’s misconduct. You will find more information in the hearing file.

Report a Concern

If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using the BCSC’s online complaint form. InvestRight.org is the British Columbia Securities Commission’s investor education website.

InvestRight.org is the British Columbia Securities Commission’s investor education website.