June 21, 2017 10:04 pm
Updated: June 22, 2017 5:36 pm

B.C. man charged for allegedly selling illegal shares

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A man has been arrested at his Vancouver home for breaching a B.C. Securities Commission (BCSC) order. The warrant is connected to multiple charges under the Securities Act.

Won Sang Shen Cho (a.k.a. Craig Cho, Kevin Kim, Jae Hoon Kim), 46, allegedly solicited over $270,000 from five investors from July 2015 to November 2016.

Cho allegedly “published advertisements throughout Canada and the U.S. offering to sell shares in online gambling and sports betting businesses,” according to a BCSC in a statement.

On June 13, he was arrested and charged with 13 counts “punishable by a fine of up to $3 million, up to three years in prison, or both.”

Cho is alleged to have breached an order issued by the BCSC in 2013 that said illegally distributed securities, made misrepresentations and perpetrated a fraud.

Subsequently, Cho was banned from trading and purchasing securities and from engaging in investor relations activities.

On June 14, Cho was released on a cash bail. A trial date has yet to be determined.

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