Webpage on Kim case posted on InvestRight
On October 13, 2009, the BCSC issued an Investor Alert telling the public that it was investigating Sung Wan (Sean) Kim who was president of Cirplus Futures Inc, an exchange contracts dealer, and a prominent member of the local Korean community.
In the Alert, BCSC urged investors to contact the BCSC inquiry line to provide information about Mr. Kim or dealings with him. It also advertised its inquiry line and translation services to “Kim” investors in the Korean media.
Over the past couple of weeks, there has been extensive Korean media coverage reporting millions of dollars of losses.
Mr. Kim was arrested in Korea by police on or about October 18, 2009 and is detained pending a pre-trial hearing. BCSC issued a temporary order and notice of hearing that will be held on November 3, 2009 at 10:00 am.
The RCMP Vancouver Integrated Market Enforcement Team (IMET) has initiated a criminal investigation in relation to the alleged multi-million dollar fraud scheme involving Cirplus Futures Inc.
Today we published a webpage on our InvestRight website to keep investors, the public, and media up-to-date on developments that can be made public in the Kim case.