Vancouver man, Won Sang Shen Cho, charged with illegally selling shares

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A Vancouver man, Won Sang Shen Cho, is charged with illegally soliciting $270,000 from investors in contravention of a 2013 order from the B.C. Securities Commission.

The commission says Won Sang Shen Cho (also known as Craig Cho, Kevin Kim and Jae Hoon Kim) is alleged to have “published advertisements throughout Canada and the U.S. offering to sell shares in online gambling and sports betting businesses” in 2015 and 2016.

“In doing so, it is alleged Cho breached a commission order, made misrepresentations, traded without registration, and failed to file prospectuses,” the BCSC said in a news release.

Cho, 46, was arrested on June 13 and now faces 13 counts under the Securities Act that are punishable by fines of up to $3 million and three years in prison. He has since been released on bail.

Read more at Vancouver Sun

This article is summarized by Canadian Fraud News Inc.