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by Mike Caswell

The U.S. Securities and Exchange Commission has filed a motion for a summary judgment against Jason Wong, the Ontario man facing civil fraud charges for his role in a pink sheets hijacking scheme. The regulator claims that he and others improperly took over 43 inactive public companies and sold them as shells. The evidence against Mr. Wong is so overwhelming that there is no need for a trial, according to the motion.

The SEC initially charged Mr. Wong and others with the hijacking scheme in September, 2009. It said that they took control of inactive public companies by filing false paperwork with the Cusip Bureau and with multiple secretaries of state. They then sold the companies to various buyers. One of the companies went on to become Toronto Stock Exchange listing Paramount Gold and Silver Corp., and another became Surrey-based pink sheets listing World Hockey Association Corp. (The SEC did not accuse either company of any wrongdoing.)

Motion for summary judgment

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