British Columbia Securities Commission



British Columbia Securities Commission

March 18, 2014 15:30 ET

BCSC Panel Finds That Nevada Corporation and Two B.C. Residents Illegally Distributed Securities and Breached Cease Trade Order

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 18, 2014) - A British Columbia Securities Commission panel has found that two B.C. residents and a Nevada corporation whose securities are quoted on the Pink Sheets in the U.S. engaged in an illegal distribution of securities, and breached a cease trade order.

The panel found that Alexander Anderson and Ken Chua distributed shares of Oriens Travel and Hotel Management Corp. to three B.C. residents without filing a prospectus and for which no exemptions were available. Anderson and Chua raised proceeds of US $58,500.

Oriens, an OTC reporting issuer in B.C., was the subject of a cease trade order (CTO) by the Corporate Finance division of the BCSC in January 2009. The panel found that, in distributing Oriens shares to investors, Anderson and Chua breached the terms of the CTO, and made misrepresentations to the investors when they failed to advise them of the CTO.

Chua is the President and Chief Executive Officer of Oriens. Anderson is the Secretary of Oriens. Neither Chua nor Anderson have been registered in any capacity under the Act, and Oriens has never been registered to trade in securities and has never filed a prospectus under the Act.

The panel directed the parties to make submissions on sanctions according to the schedule set out in the findings.

You may view the findings decision on our website www.bcsc.bc.ca by typing Oriens Travel and Hotel Management Corp., Alexander Anderson, Ken Chua or 2014 BCSECCOM 91 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).

About the British Columbia Securities Commission (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 promote 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

Learn how to protect yourself and become a more informed investor at www.investright.org.

Contact Information

  • British Columbia Securities Commission
    Richard Gilhooley
    Media Relations
    604-899-6713

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