News Release

 Vancouver – The British Columbia Securities Commission (BCSC) is alleging that a former insurance agent and an associate pressured an investor to provide a false statement to BCSC investigators.

Hunter Wei-Shun Wang and Jing “Janet” Zhang, residents of Burnaby, convinced a B.C. man to invest in the company they worked for. At the time, Wang was a licensed insurance broker employed by a company, and Zhang was the company’s marketing director.

The investor asked for his money back a few days later, saying he regretted making the investment. While waiting for a response, the investor’s mother complained to the BCSC about the investment.

Wang and Zhang, after learning of the BCSC’s involvement, offered to refund the investment if the son lied to the BCSC. They asked the son to say that his mother mistakenly confused this investment with another, and had no complaints about this particular investment.

The next day, Wang and Zhang coached the investor on the lie, and then listened while the investor called the BCSC to provide the agreed-upon false statement. After the call, the investor and his mother went with Zhang to her personal bank branch, where she withdrew $25,000 and gave it to the investor. A few weeks later, the company reimbursed Zhang for that payment.

The BCSC staff is asking an administrative panel to find that Wang and Zhang’s actions were either an obstruction of justice or abusive to the capital markets. The commission will schedule a tentative hearing date in November.

About the British Columbia Securities Commission (www.bcsc.bc.ca)  

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

• A securities market that is fair and warrants public confidence
• A dynamic and competitive securities industry that provides investment opportunities and access to capital

Media Contact:
Brian Kladko
604-899-6713

Public inquiries:

604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Learn how to protect yourself and become a more informed investor at www.investright.org