Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.
Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.
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Released on August 27, 2012
The Saskatchewan Financial Services Commission (SFSC) issued a Temporary Cease Trade Order on August 24, 2012, against three Hong Kong based companies; Ocean International Ltd., Manhattan Capital Corp. and Wealth Capital Corp.
The order directs the three companies and its sales representatives - James Lee, Jamie Lyons, Jamie Marsh and Roger White - to cease trading and advising in securities and exchange contracts. It also removes their ability to use any exemptions in Saskatchewan. The order expires on September 7, 2012, although it may be extended.
The SFSC has information that representatives of these companies are contacting Saskatchewan residents for the purpose of trading shares in over-the-counter traded companies and options in gold. Neither the companies nor their representatives are registered in Saskatchewan to trade or give advice about securities. The sales representatives have presented themselves as Senior Trading Advisors for the companies and have urged investors to forward funds to international bank accounts.
The websites www.wealthcapitalcorp.com, www.oceaninternationalltd.com and www.manhattancapitalcorp.com appear to be nearly identical and show the same office address in Hong Kong. On the websites the companies claim to offer futures, options, contracts for difference (CFDs), equities, bullion, and forex to individual and corporate accounts.
"These companies and individuals appear to be operating illegally in Saskatchewan and we are aware that they have contacted people in other provinces as well," SFSC's Securities Division Deputy Director Ed Rodonets said. "We are seeking the assistance of authorities in other jurisdictions, some outside Canada, to help deal with this activity. However it is up to investors to do their due diligence and check out these companies prior to investing."
Anyone contacted by Ocean International, Wealth Capital and Manhattan Capital or any representative of any of the named companies, should contact SFSC's Securities Division at 306-787-5645.
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For more information, contact:
Noel Busse
Justice
Regina
Phone: 306-787-8959
Email: noel.busse@gov.sk.ca
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