Mr. Andrew Poon reports

BCSC PANEL SANCTIONS LOWER MAINLAND MAN AND THREE COMPANIES HE CONTROLLED

A British Columbia Securities Commission (BCSC) panel has ordered permanent market prohibitions against Paul Se Hui Oei and three companies he controlled: Canadian Manu Immigration & Financial Services Inc., 0863220 B.C. Ltd. and 0905701 B.C. Ltd. The panel also ordered that Mr. Oei and Canadian Manu Immigration & Financial Services pay administrative penalties of $4.5-million and $1-million, respectively, and to disgorge approximately $3.1-million.

Mr. Oei is a resident of the Lower Mainland area. He was not registered under the Securities Act during the relevant period. Canadian Manu Immigration & Financial Services was incorporated in British Columbia in 2006 and was registered by the Insurance Council of British Columbia during the relevant period, but was not registered under the Securities Act. Mr. Oei was a director and officer of Canadian Manu Immigration & Financial Services from its incorporation until he resigned in Marchb 2010, but retained control of the company, including its bank accounts, after his resignation.

Mr. Oei was a director and officer of the two B.C.-based numbered companies, 0863220 and 0905701, since their respective incorporations in 2009 and 2011. 0905701 was dissolved in August, 2015. Neither company was registered under the Securities Act during the relevant period.

The panel found that, beginning in 2009, Mr. Oei solicited investors to invest in two start-up companies, Cascade Renewable Carbon Corp. and Cascade Renewable Organic Fertilizer Corp. (collectively referred to as Cascade) through an indirect investment structure.

The panel found that the respondents did not direct all of the investors' funds toward Cascade's start-up costs as they represented to investors. The panel made various findings of fraud against the respondents:

• Mr. Oei with respect to 63 investments in the aggregate amount of $5,003,088;
• Canadian Manu Immigration & Financial Services with respect to 63 investments in the aggregate amount of $5,003,088;
• 0863220 with respect to 33 investments in the aggregate amount of $3,001,853;
• 0905701 with respect to 30 investments in the aggregate amount of $2,001,235.

Mr. Oei and Canadian Manu Immigration & Financial Services, jointly and severally, have been ordered to disgorge approximately $3.1-million. The amount of this disgorgement is the amount of the fraud less the amounts the panel found that the respondents have returned to the investors.

For his misconduct, Mr. Oei is ordered to resign any position he holds as a director or officer of an issuer or registrant. He is permanently prohibited from trading in (or purchasing) any securities or exchange contracts; relying on any of the exemptions set out in the Securities Act, the regulations or a decision; becoming (or acting) as a director or officer of any issuer or registrant; acting in a management or consultative capacity in connection with activities in the securities market; and engaging in investor relations activities.

In addition to these, the three companies (Canadian Manu Immigration & Financial Services, 0863220 and 0905701) are also permanently prohibited from becoming or acting as a registrant or promoter.

You may view the decision on the BCSC's website by typing Paul Se Hui Oei, Canadian Manu Immigration & Financial Services Inc., 0863220 B.C. Ltd., 0905701 B.C. Ltd. or 2018 BCSECCOM 231 in the search box. Information about disciplinary proceedings can be found in the enforcement section of the BCSC's website.

Please visit the Canadian Securities Administrators' (CSA) disciplined list for information relating to persons and companies disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).

About the B.C. Securities Commission

The BCSC is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act.