Alberta Securities Commission (ASC) staff have issued a notice of hearing alleging that 2 Wongs Make It Right Enterprises Ltd. and its principals, Khom Wong and Janeen Wong, took part in illegal distributions of the securities of 2 Wongs and affiliated investment vehicles for real estate schemes in and around the City of Edmonton.

ASC staff also allege that Khom Wong made misrepresentations to investors and counselled them to engage in bank fraud to borrow money for their investments in the schemes. Khom Wong is also accused of using investor funds for unauthorized purposes.

These allegations have not been proven.

An appearance to set a date for a hearing will be held on June 11 at the ASC offices in Calgary.