Global Consulting and Financial Services and Crown Capital Management Corporation

 

 

TORONTO – This is an update to the Investor Warning issued on November 5, 2010 by the Ontario Securities Commission (“OSC”), which warned investors against sending money to Global Consulting and Financial Services (“Global”), Crown Capital Management Corporation (“Crown”), related entities and individuals associated with these entities.

The OSC has identified the following entities, which also appear to be connected to Global, Crown and/or persons, companies and/or entities related to Global and Crown: Andover Management; Asian Merger and Acquisition Registration Authority; B Gold International Holdings Inc.; Beijing International Finance Group; Cantwell Holdings; Cantwell International; Chapman Mediation Group Inc.; Commonwealth Alliance Group; Corporate Mergers and Acquisitions Group; Green Estate Holdings; Guardian Holdings Group LLC; Herron Holdings Limited; HR Equity Management Limited; Kirkland Gray Acquisitions; Kuti Consulting; Oxford International Consultants; Precious Metals Insider SA; Robbins, McCaully, Appleby LLC; and Western Equities Limited.

These entities appear to be running a fraudulent “advance fee” scheme. Representatives of these entities are contacting investors who hold certain illiquid securities and offering to sell those securities for the investors at a substantial premium. Investors are being told that they will have to send an advance fee payment before their securities can be sold. Investors are in danger of being defrauded of the fees they send and never receiving payment for the securities that are purportedly being sold for them.

These entities are not registered in any capacity with the OSC. The names of these entities may be similar to the names of legitimate companies or entities. If you are unsure about whether you are dealing with a legitimate entity, contact the OSC Contact Centre at 1-877-785-1555 for assistance.

To date, OSC staff are aware that investors who previously purchased the following securities are being targeted: Averox Inc.; Avitech Life Sciences Inc.; Cancer Detection Corporation; Dixon, Perot and Champion Inc.; Goldentech Entertainment Software Inc.; New Hudson Television Corporation; Pan Gen Global PLC; Remington Ventures Inc.; Royal Petroleum Inc.; SK Resources Inc.; Wildwood Management Limited; and World Oil and Gas Inc.

On November 4, 2010, the OSC issued a temporary cease trade order against Michael Chomica, Peter Kuti, Jan Chomica and Lorne Banks, who are using Global, Crown, and/or entities related to Global, Crown, as well as Canadian Private Audit Service and Executive Asset Management, to run what appears to be a fraudulent advance fee scheme.

The temporary cease trade order and November 5, 2010 Investor Warning are available on the OSC website at www.osc.ca. If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.

 

-30-