A Vancouver man is facing charges that he breached a regulatory order and traded without registration, among other alleged breaches of securities laws in British Columbia.
The British Columbia Securities Commission (BCSC) on Wednesday announced that Won Sang Shen Cho was arrested back on June 13, and stands charged with 13 counts of alleged violations of securities laws, including allegations that he breached a BCSC order, made misrepresentations, and traded without registration.
The allegations have not been proven. Cho has been released on bail, and a trial date in the case has not yet been set.
According to the BCSC, between July 2015 and November 2016, Cho solicited over $270,000 from five different investors by offering to sell shares in online gambling and sports betting businesses.
Back in 2013, Cho was permanently banned by the BCSC after it found that he illegally distributed securities, made misrepresentations, and perpetrated a fraud.