British Columbia Securities Commission

British Columbia Securities Commission

February 20, 2008 12:00 ET

British Columbia Securities Commission: BCSC Executive Director's Bulletin; Securities Regulator Alleges Three British Columbia Men Committed Fraud

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2008) - The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that three B.C. men perpetrated a fraud when they illegally sold millions of dollars in securities to residents of B.C. and elsewhere.

The notice of hearing alleges that Alvin Lee Johnson, a Vancouver resident, Heng Goh, a North Vancouver resident, and Victor Schwab from Prince George, violated various securities laws between February 2002 and April 2005.

The notice alleges Johnson, a former mutual fund sales person, and Schwab, a chartered accountant distributed about $6.6 million of NOF Electrical Generation Inc. and Advanced Rescue Technologies Inc. securities without being registered and without filing a prospectus.

The notice also alleges Johnson and Goh made misrepresentations to investors when illegally distributing about $2.6 million of securities in VG Capital Group Inc., a financial consulting firm.

These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view notices of hearings on our website www.bcsc.bc.ca. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    Media Relations
    (604) 899-6577 or (B.C. & Alberta) 1-800-373-6393
    Website: www.bcsc.bc.ca