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ORIGINAL: BCSC sanctions B.C. resident Oei, three companies

2018-08-08 13:13 ET - News Release

 Aujla <MAujla@bcsc.bc.ca>
Subject: BCSC News Release: BCSC panel sanctions Lower Mainland man and threecompanies he controlled

PLAIN TEXT:

BCSC panel sanctions Lower Mainland man and three companies he controlled

Vancouver - A British Columbia Securities Commission (BCSC) panel has ordered permanent market prohibitions against Pa
--->ul 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 Oei and Canadian Manu pay administrative penalties of $4.5 and $1 
--->million, respectively, and to disgorge approximately $3.1 million.

Oei is a resident of the Lower Mainland, who was not registered under the Securities Act during the relevant period. C
--->anadian Manu was incorporated in B.C. in 2006 and was registered by the Insurance Council of British Columbia during t
--->he relevant period, but was not registered under the Act. Oei was a director and officer of Canadian Manu from its inc
--->orporation until he resigned in March 2010, but retained control of the company, including its bank accounts, after hi
--->s resignation.

Oei was a director and officer of the two B.C. based numbered companies, 0863220 and 0905701, since their respective i
--->ncorporations in 2009 and 2011. 0905701 was dissolved in August 2015. Neither company was registered under the Act dur
--->ing the relevant period.

The panel found that beginning in 2009, 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 towards Cascade's "start-up costs" as 
--->they represented to investors. The panel made various findings of fraud against the respondents:

*         Oei with respect to 63 investments in the aggregate amount of $5,003,088;

*         Canadian Manu 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; and

*         0905701 with respect to 30 investments in the aggregate amount of $2,001,235.

Oei and Canadian Manu, 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 th
--->e investors.

For his misconduct, 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 t
--->he exemptions set out in the Act, the regulations or a decision; becoming or acting as a director or officer of any is
--->suer or registrant; acting in a management or consultative capacity in connection with activities in the securities ma
--->rket; and engaging in investor relations activities.

In addition to these, Canadian Manu, 0863220 B.C. Ltd. and 0905701 B.C. Ltd. are also permanently prohibited from beco
--->ming or acting as a registrant or promoter.

You may view the decision on our website, www.bcsc.bc.ca<http://www.bcsc.bc.ca>, by typing Paul Se Hui Oei, Canadian M
--->anu 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<https://www.bcsc.bc.ca/Enforcemen
--->t/> of the BCSC website.

Please visit the Canadian Securities Administrators' (CSA) Disciplined List<http://www.securities-administrators.ca/di
--->sciplinedpersons.aspx?id=74> for information relating to persons and companies disciplined by provincial securities re
--->gulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of
---> Canada (MFDA).

About the British Columbia Securities Commission (www.bcsc.bc.ca<http://www.bcsc.bc.ca>)

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating 
--->capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and pr
--->omote the public interest by fostering:

*         A securities market that is fair and warrants public confidence
*         A dynamic and competitive securities industry that provides investment opportunities and access to capital

- 30 -

Media Contact:
Andrew Poon
604-899-6880

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca<mailto:inquiries@bcsc.bc.ca>

Learn how to protect yourself and become a more informed investor at www.investright.org<http://www.investright.org/>


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<div class="WordSection1">
<p class="MsoNormal" align="center" style="text-align:center"><b><span lang="EN-GB">BCSC panel sanctions Lower Mainlan
--->d man and three companies he controlled<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span lang="EN-GB"><o:p>&nbsp;</o:p></span></b></p>
<p class="MsoNormal"><b><span lang="EN-GB">Vancouver</span></b><span lang="EN-GB"> - A British Columbia Securities Com
--->mission (BCSC) panel has ordered permanent market prohibitions against Paul Se Hui Oei and three companies he controll
--->ed: Canadian Manu Immigration
 &amp; Financial Services Inc., 0863220 B.C. Ltd. and 0905701 B.C. Ltd. The panel also ordered that Oei and Canadian M
--->anu pay administrative penalties of $4.5 and $1 million, respectively, and to disgorge approximately $3.1 million.</sp
--->an><o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">Oei is a resident of the Lower Mainland, who was not registered under the
<i>Securities Act</i> during the relevant period. Canadian Manu was incorporated in B.C. in 2006 and was registered by
---> the Insurance Council of British Columbia during the relevant period, but was not registered under the Act. Oei was a
---> director and officer
 of Canadian Manu from its incorporation until he resigned in March 2010, but retained control of the company, includi
--->ng its bank accounts, after his resignation.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">Oei was a director and officer of the two B.C. based numbered companies, 0863220 and 0905701, sin
--->ce their respective incorporations in 2009 and 2011. 0905701 was dissolved in August 2015. Neither company was registe
--->red under the Act during
 the relevant period.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">The panel found that beginning in 2009, Oei solicited investors to invest in two start-up compani
--->es, Cascade Renewable Carbon Corp. and Cascade Renewable Organic Fertilizer Corp. (collectively referred to as Cascade
--->) through an indirect
 investment structure.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">The panel found that the respondents did not direct all of the investors' funds towards Cascade's
---> "start-up costs" as they represented to investors. The panel made various findings of fraud against the res
--->pondents:<o:p></o:p></p>
<p class="MsoListParagraphCxSpFirst" style="margin-bottom:0in;margin-bottom:.0001pt;mso-add-space:auto;text-indent:-.2
--->5in;mso-list:l0 level1 lfo2">
<![if !supportLists]><span style="font-size:11.0pt;font-family:Symbol"><span style="mso-list:Ignore">&middot;<span sty
--->le="font:7.0pt "Times New Roman"">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></span><![endif]><span style="font-size:11.0pt;font-family:"Calibri","sans-serif"">O
--->ei with respect to 63 investments in the aggregate amount of $5,003,088;<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:.0001pt;mso-add-space:auto;text-indent:-.
--->25in;mso-list:l0 level1 lfo2">
<![if !supportLists]><span style="font-size:11.0pt;font-family:Symbol"><span style="mso-list:Ignore">&middot;<span sty
--->le="font:7.0pt "Times New Roman"">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></span><![endif]><span style="font-size:11.0pt;font-family:"Calibri","sans-serif"">C
--->anadian Manu with respect to 63 investments in the aggregate amount of $5,003,088;<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:.0001pt;mso-add-space:auto;text-indent:-.
--->25in;mso-list:l0 level1 lfo2">
<![if !supportLists]><span style="font-size:11.0pt;font-family:Symbol"><span style="mso-list:Ignore">&middot;<span sty
--->le="font:7.0pt "Times New Roman"">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></span><![endif]><span style="font-size:11.0pt;font-family:"Calibri","sans-serif"">0
--->863220 with respect to 33 investments in the aggregate amount of $3,001,853; and<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="margin-bottom:0in;margin-bottom:.0001pt;mso-add-space:auto;text-indent:-.25
--->in;mso-list:l0 level1 lfo2">
<![if !supportLists]><span style="font-size:11.0pt;font-family:Symbol"><span style="mso-list:Ignore">&middot;<span sty
--->le="font:7.0pt "Times New Roman"">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></span><![endif]><span style="font-size:11.0pt;font-family:"Calibri","sans-serif"">0
--->905701 with respect to 30 investments in the aggregate amount of $2,001,235.<o:p></o:p></span></p>
<p class="MsoNormal">&nbsp; <o:p></o:p></p>
<p class="MsoNormal">Oei and Canadian Manu, jointly and severally, have been ordered to disgorge approximately $3.1 mi
--->llion. The amount of this disgorgement is the amount of the fraud less the amounts the panel found that the respondent
--->s have returned to the
 investors.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">For his misconduct, 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 Act, the regulations or a decision; becoming or acting as a director or officer of any issu
--->er or registrant; acting in a management or consultative capacity in connection with activities in the securities mark
--->et; and engaging in investor
 relations activities.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">In addition to these, Canadian Manu, 0863220 B.C. Ltd. and 0905701 B.C. Ltd. are also permanently
---> prohibited from becoming or acting as a registrant or promoter.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">You may view the decision on our website, <a href="http://www.bcsc.bc.ca">
www.bcsc.bc.ca</a>, by typing Paul Se Hui Oei, Canadian Manu Immigration &amp; Financial Services Inc., 0863220 B.C. L
--->td., 0905701 B.C. Ltd. or 2018 BCSECCOM 231 in the search box. Information about disciplinary proceedings can be found
---> in the
<a href="https://www.bcsc.bc.ca/Enforcement/">Enforcement section</a> of the BCSC website.<o:p></o:p></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal">Please visit the Canadian Securities Administrators' (CSA) <a href="http://www.securities-adminis
--->trators.ca/disciplinedpersons.aspx?id=74">
Disciplined List</a> 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).<span lang="EN-GB"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal"><b><u><span lang="EN-GB">About the British Columbia Securities Commission (</span></u></b><a href
--->="http://www.bcsc.bc.ca"><b><span lang="EN-GB">www.bcsc.bc.ca</span></b></a><b><u><span lang="EN-GB">)<o:p></o:p></spa
--->n></u></b></p>
<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">The British Columbia Securities Commission is the independent provincial gover
--->nment agency responsible for regulating capital markets in British Columbia through the administration of the
<i>Securities Act</i>. Our mission is to protect and promote the public interest by fostering:<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.25in;text-indent:-.25in;mso-list:l1 level1 lfo4;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol"><span style="mso-list:Ignore">&middot
--->;<span style="font:7.0pt "Times New Roman"">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></span><![endif]><span lang="EN">A securities market that is fair and warrants public confidence
<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.25in;text-indent:-.25in;mso-list:l1 level1 lfo4;background:white">
<![if !supportLists]><span lang="EN" style="font-size:10.0pt;font-family:Symbol"><span style="mso-list:Ignore">&middot
--->;<span style="font:7.0pt "Times New Roman"">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></span><![endif]><span lang="EN">A dynamic and competitive securities industry that provides investment 
--->opportunities and access to capital
<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span lang="EN-GB">- 30 -<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal"><span style="color:black">Media Contact:<br>
Andrew Poon<br>
604-899-6880</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">Public inquiries:<br>
604-899-6854 or 1-800-373-6393 (toll free)<br>
</span><a href="mailto:inquiries@bcsc.bc.ca"><span lang="EN-GB">inquiries@bcsc.bc.ca</span></a><span lang="EN-GB"><o:p
--->></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">Learn how to protect yourself and become a more informed investor at&nbsp;</sp
--->an><a href="http://www.investright.org/" target="_blank" title="www.investright.org"><span lang="EN-GB">www.investrigh
--->t.org</span></a><span style="color:blue">
<span lang="EN-GB"><o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
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