British Columbia Securities Commission

British Columbia Securities Commission

February 17, 2017 14:30 ET

BCSC settles with B.C. woman for breaching the Act

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) - In a settlement agreement with the British Columbia Securities Commission (BCSC), Vicky Dancho (a.k.a. Ju Huang) has admitted to breaching the Securities Act by signing promissory notes for investments to which no exemptions applied. Dancho is a B.C. resident who has never been registered under the Act.

The agreement states that between April 2008 and August 2012, Pegasus Pharmaceuticals Group Inc., a B.C. company, raised money from investors in Taiwan by issuing Pegasus bonds. Each bond consisted of an investment certificate and a promissory note. Approximately 800 of these promissory notes stated that Careseng Cancer Institute Inc., also a B.C. company, guaranteed repayment of principal at maturity. Dancho signed these promissory notes as a director of the guarantor, Careseng Cancer. Dancho did not control Careseng Cancer or Pegasus and took no active role in the business or affairs of Careseng Cancer.

The agreement states that approximately $22.9 million of these promissory notes were for investments to which no prospectus exemptions applied. By signing the promissory notes, Dancho performed acts in furtherance of trades of Pegasus bonds, and breached the Act.

For her misconduct, Dancho has been ordered to permanently cease trading in any securities (with limited exceptions), and is permanently banned from becoming or acting as a director or officer of any issuer or registrant, becoming or acting as a registrant or promoter, and acting in a management or consultative capacity in connection with activities in the securities market. She has also agreed to pay $70,000 to the BCSC.

You may view the settlement agreement on our website by typing Vicky Dancho, Ju Huang or 2017 BCSECCOM 40 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 List 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 (MFDA).

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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:

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