News & Events

News Release


Ontario
Securities
Commission


20 Queen St. W.
22nd Floor
Toronto, ON M5H 3S8
Commission des
valeurs mobilières
de l'Ontario
FOR IMMEDIATE RELEASE

January 24, 2014


UPDATE: INVESTOR WARNING - G.W. TRUST AND TRANSFER SERVICES LIMITED AND MORGAN DRAGON DEVELOPMENT CORP.



TORONTO - The OSC is alerting the public to additional concerns with respect to investors in Morgan Dragon Development.

The OSC issued an Investor Alert on January 30, 2012, which warned investors not to purchase securities from MD Development, John Cheong and Herman Tse.

The OSC is now warning investors against sending money to an entity called G.W. Trust and Transfer Services Limited (G.W. Trust), a company that appears to be running a fraudulent “advance fee” scheme in the form of a “Non-resident tax”. Representatives of G.W. Trust are contacting investors, offering to purchase MD Development shares held by investors if the investor makes an advance fee payment to G.W. Trust. 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.

G.W. Trust has never been registered with the OSC in any capacity.

The January 30, 2012 Investor Alert is available on the OSC website at www.osc.gov.on.ca. If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.


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For Media Inquiries: media_inquiries@osc.gov.on.ca   Carolyn Shaw-Rimmington
Manager, Public Affairs
416-593-2361

Aly Vitunski
Senior Media Relations Specialist
416-593-8263

Alison Ford
Media Relations Specialist
416-593-8307

For Investor Inquiries:     OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)
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