Global Consulting and Financial Services and Crown Capital Management Corporation

 

TORONTO – On November 4, 2010, the Ontario Securities Commission (“OSC”) issued a temporary cease trade order against Michael Chomica, Peter Kuti, Jan Chomica and Lorne Banks, who are using entities named Global Consulting and Financial Services (“Global”), Crown Capital Management Corporation (“Crown”), Canadian Private Audit Service and Executive Asset Management to run what appears to be a fraudulent advance fee scheme.

The OSC is warning investors not to send money to these individuals, entities or others associated with them. The individuals also use aliases and other companies and/or entities related to Global and Crown, including Canadian Private Audit Service and Executive Asset Management.

Representatives of Global, Crown and their related entities are impersonating OSC staff in an effort to convince investors to pay the advance fees. Global, Crown and their related entities are not registered in any capacity with the OSC. The OSC is not involved in the solicitation of advance fees from investors and considers the impersonation of its staff to be serious illegal activity.

In addition, the OSC is warning investors not to send money to the following entities, which also appear to be connected to Global, Crown and/or persons, companies and/or entities related to Global and Crown: Belmont Group Limited, Chelsea International Consultants, Eurasia Mergers and Acquisitions Registration Authority, Global Capital Group, Global Asset Management, Highgate Consultancy Services, Jermar Inc., Jermar Productions and Macao Management. 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.

Representatives of Global, Crown and their related 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 to Global, Crown or their related entities before their securities can be sold. Under this kind of scheme, 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. Investors should be very careful about sending money if they are solicited to pay an advance fee.

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

If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.