CALGARY, May 12, 2014 /CNW/ - Alberta Securities Commission (ASC) staff
have issued a Notice of Hearing alleging that 2 Wongs Make It Right
Enterprises Ltd. and its principals, Khom Wong and Janeen Wong, took
part in illegal distributions of the securities of 2 Wongs and
affiliated investment vehicles for real estate schemes in and around
the City of Edmonton.
ASC staff also allege that Khom Wong made misrepresentations to
investors and counselled them to engage in bank fraud to borrow money
for their investments in the schemes. Khom Wong is also accused of
using investor funds for unauthorized purposes.
These allegations have not been proven.
An appearance to set a date for a hearing will be held on Wednesday,
June 11, 2014, at 1:30 p.m. in the ASC Hearing Room on the 5th floor, 250 - 5th Street S.W., Calgary, Alberta.
A copy of the Notice of Hearing can be found on the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and
efficient capital market in Alberta and to protect investors. As a
member of the Canadian Securities Administrators, the ASC works to
improve, coordinate and harmonize the regulation of Canada's capital
SOURCE: Alberta Securities Commission
For further information:
For Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1.877.355.4488