Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
China World Trade = SCUM BAGS...GO DIRECTLY TO JAIL DO NOT PASS GO AND COLLECT NADA!
FLUSH!!
Washington, D.C., Feb. 1, 2011 — The Securities and Exchange Commission today filed fraud charges against the operators of a $33 million international microcap stock scheme involving the stocks of eight small U.S. companies headquartered in the People's Republic of China, Canada, and Israel.
--------------------------------------------------------------------------------
Additional Materials
SEC Complaint
Litigation Release No. 21833
--------------------------------------------------------------------------------
In a complaint filed in U.S. District Court for the Eastern District of Michigan, the SEC charged three companies and eight individuals with engaging in unlawful spam e-mail campaigns to pump and dump securities of microcap companies. The SEC alleges that each scheme was primarily organized and devised by one or all of the following:
Francis A. Tribble, who is a U.S. citizen and former stock promoter
How Wai Hui (a.k.a. John Hui), who is a dual citizen of Hong Kong and Canada and the former CEO of China World Trade Corp.
Kwong-Chung Chan (a.k.a. Bernard Chan), who is a citizen and resident of Hong Kong and the former CFO of China World Trade Corp.
Gregg M.S. Berger, who is a stockbroker from Yonkers, N.Y.
In a parallel criminal proceeding, the U.S. Department of Justice today unsealed an indictment against Berger, charging him with one count of conspiracy to commit securities fraud and wire fraud. Previously, in related criminal actions, Hui and Tribble pleaded guilty to conspiracy to commit wire fraud, mail fraud and to violate the CAN-SPAM Act, as well as to committing wire fraud and engaging in money laundering for their roles in the scheme to artificially inflate the prices of the securities of several companies, including China World Trade. Hui and Tribble each were sentenced to 51 months in prison for their actions.
"Foreign companies and perpetrators with global connections are increasingly using digital communications and other means in furtherance of their securities fraud schemes in U.S. markets," said Robert Khuzami, Director of the SEC's Division of Enforcement. "But as reflected in today's enforcement actions, U.S. and international law enforcement authorities are joining forces to effectively detect, disrupt and prosecute these frauds. Combating microcap fraud and pump-and-dump schemes, irrespective of where they originate, continues to be a top enforcement priority for the SEC."
The SEC also charged the following corporate insiders for their participation in the pump-and-dump schemes and for engaging in a fraudulent scheme to conceal the sales of millions of shares of their companies' securities:
Xiaoqing Du (a.k.a. Angela Du), who is a dual citizen of Canada and China and CEO and director of Global Peopleline Telecom Inc.
Chi Shing Ng (a.k.a. Daniel Ng), who is a citizen and resident of Hong Kong and CEO and director of China Digital Media Corp.
Shay Ben-Asulin, who is a citizen and resident of Israel and former Chairman of m-Wise Inc.
Mordechai Broudo, an Italian citizen and resident of Israel and former CEO of m-Wise.
The three companies charged are China Digital, Global Peopleline, and m-Wise.
The SEC alleges that at various times between January 2005 and December 2007, each of the defendants engaged in one or more schemes to pump up the price and volume of the securities of one or more of the companies by paying for false spam e-mail campaigns.
According to the SEC's complaint, the false spam e-mails lured investors into the market and drove up demand in the stocks by, among other things, touting non-existent IPOs and acquisitions, presenting an unrealistic picture of the companies' business prospects, providing baseless share price projections, or including false disclaimers. The defendants then dumped millions of shares of these securities into the hyped market through nominee brokerage accounts they opened with Berger, reaping millions of dollars in profits. All eight companies' stocks were dually quoted on the Over-the-Counter Bulletin Board and Pink Sheets.
The SEC's complaint alleges that Tribble masterminded the pump-and-dump schemes with respect to five of the companies, and arranged for the spam e-mail campaigns for two other companies. Berger, a long-time friend of Tribble, played a central role in the schemes by arranging for the pump and dump of m-Wise and facilitating the sales of millions of shares in all eight companies through nominee brokerage accounts. John Hui and Bernard Chan also played key roles in the fraudulent schemes by finding U.S. public shell companies to use in bringing private Chinese companies public through reverse mergers. They arranged for the deposit and sale of stock through nominee brokerage accounts, and coordinated the transfer of the unlawful trading proceeds to pay for the spam e-mail campaigns among other things.
The SEC seeks permanent injunctions, disgorgement and financial penalties against Berger and Chan for violations of the antifraud and registration provisions, and against Angela Du and Global Peopleline for violations of the antifraud, registration, and reporting provisions of the federal securities laws. The Commission also seeks an officer and director bar against Du, and penny stock bars against Berger, Chan, and Du.
Without admitting or denying the SEC's allegations, Tribble, John Hui, Daniel Ng, Ben-Asulin, Broudo, m-Wise, and China Digital have agreed to settle the charges against them. The settlements are pending final approval by the court.
Tribble agreed to a final judgment permanently enjoining him from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Tribble also agreed to pay disgorgement of $2,549,520 and prejudgment interest of $349,208. Tribble consented to be barred from participating in an offering of any penny stock.
John Hui agreed to a final judgment permanently enjoining him from violating Sections 5(a), 5(c), and 17(a) of the Securities Act, Sections 10(b) and 16(a) of the Exchange Act and Rules 10b-5, 13a-14, 16a-2, and 16a-3 thereunder, and from aiding and abetting violations of Sections 13(a) of the Exchange Act and Rules 12b-20 and 13a-1 thereunder. Hui agreed to pay disgorgement of $681,117 and prejudgment interest of $162,717. Hui also agreed to be barred from acting as an officer or director of a public reporting company and from participating in an offering of any penny stock.
Daniel Ng agreed to a final judgment permanently enjoining him from violating Sections 5(a), 5(c), and 17(a) of the Securities Act, Sections 10(b) and 16(a) of the Exchange Act and Rules 10b-5, 13a-14, 16a-2, and 16a-3 thereunder, and from aiding and abetting violations of Sections 13(a) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-11 thereunder. Ng also consented to be barred from acting as an officer or director of a public reporting company and from participating in an offering of any penny stock. China Digital agreed to a permanent injunction from violations of Sections 5(a), 5(c), and 17(a) of the Securities Act, and Sections 10(b) and 13(a) of the Exchange Act and Rules 10b-5 and 13a-1 thereunder. China Digital also agreed to pay disgorgement of $200,000.
Ben-Asulin and Broudo agreed to a final judgment permanently enjoining them from violating Sections 5(a), 5(c), and 17(a) of the Securities Act, Sections 10(b) and 16(a) of the Exchange Act and Rules 10b-5, 13a-14, 16a-2, and 16a-3 thereunder, and from aiding and abetting violations of Sections 13(a) of the Exchange Act and Rules 12b-20 and 13a-1 thereunder. Ben-Asulin and Broudo agreed to be barred from acting as officers or directors of a public reporting company and from participating in an offering of any penny stock. m-Wise agreed to a permanent injunction from further violations of Sections 5(a), 5(c), and 17(a) of the Securities Act, and Sections 10(b) and 16(a) of the Exchange Act and Rules 10b-5 and 13a-1 thereunder. m-Wise, Ben-Asulin, and Broudo agreed to pay, jointly and severally, disgorgement of $400,000.
The SEC's case was investigated by senior counsel Jennifer L. Crawford and senior accountant Daniel L. Koster.
The SEC acknowledges and appreciates the assistance of the U.S. Attorney's Office for the Eastern District of Michigan, the Department of Justice, Computer Crime and Intellectual Property Section, the Hong Kong Securities and Futures Commission, and the Cyprus Securities and Exchange Commission.
The SEC's investigation is continuing.
# # #
For more information about this enforcement action, contact:
Daniel M. Hawke, Regional Director
Elaine C. Greenberg, Associate Regional Director
Mary P. Hansen, Assistant Regional Director
SEC Philadelphia Regional Office
(215) 597-3100
WorldWide pumping going on..
STINKS !! JMO
more on RB board: http://ragingbull.lycos.com/mboard/boards.cgi?board=CHWT
Kr
Jens
China World Trade Corporation Signs Letter of Intent to Acquire 50% Interest
in United Information Network Holdings Limited; CHWT Plans Growth Through
Acquisition
LOS ANGELES, Feb 5, 2001 (BUSINESS WIRE) -- China World Trade Corporation
(OTCBB:CHWT) today proudly announced that it has executed a Letter of Intent
with United Information Network Holdings Limited ("UINH") to acquire a
fifty-percent (50%) interest in UINH.
The business of UINH is uniquely focused on introducing Chinese suppliers to
overseas buyers on its Internet portal with an aim toward building a trade
bridge between domestic and international businesses by, amongst other things,
operating the Web sites www.uinchina.com and www.uinworld.com as its main
business platform.
UINH reports that it currently has approximately 200 agents facilitating trade
between domestic and international businesses and is currently averaging
approximately US$50,000 in monthly revenue.
John H.W. Hui, chairman and chief executive officer of China World Trade
Corporation stated, "Our anticipated acquisition of UINH represents another
major move toward fulfilling our goal of being the actual nexus of world trade
with China."
Hui added, "We look forward to experiencing a successful and prosperous
relationship with UINH as we become a conglomerate in the China trade agency
business."
China World Trade Corporation is structured to be a dominant player in the trade
agency business linking companies in China with the rest of the world.
Statements made in this news release concerning predictions of performance and
the company's plans and objectives are not historic facts and constitute
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements involve
important risks and uncertainties that may cause results to differ materially
from those set forth in this news release. All forward-looking statements are
subject to the successful completion of actions described in the news release.
Readers should carefully review the company and publicly available filings
thoroughly with their registered investment advisor or registered broker.
CONTACT: Pace Communications Network
Sy Mitzner, 800/791-5777
www.china-wtc.com
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
-0-
KEYWORD: CALIFORNIA CHINA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: INTERNET
E-COMMERCE
MERGERS/ACQ
*** end of story ***
imo
CHWT Signs Letter of Intent With World Trade Center Guangzhou
B: Signs Letter of Intent With World Trade Center Guangzhou for the
Establishment of Guangzhou World Trade Center Club
New York, New York, Jan 24, 2001 (Market News Publishing via COMTEX) -- China
World Trade Corp. announced that it has executed a Letter of Intent with World
Trade Center Guangzhou to jointly establish Guangzhou World Trade Center Club,
through which a variety of services can be provided to members of World Trade
Centers both in China and other countries throughout the world.
Following its establishment, Guangzhou World Trade Center Club will provide
comprehensive services to members of World Trade Center Guangzhou and members of
the World Trade Centers Association throughout the world, including:
intermediary services to trade and investment, business centers, computer
network services, business information and consulting services, product display,
technological exchanges, international conference services, trade shows and
other business-oriented exhibitions.
John H.W. Hui, chairman and chief executive officer of China World Trade,
stated: "Our joining forces with World Trade Center Guangzhou for the
establishment of Guangzhou World Trade Center Club is expected to translate into
bountiful economic returns for both companies. Our alliance with World Trade
Center Guangzhou symbolizes our continued commitment to be the premier business
liaison between Eastern and Western economic interests."
World Trade Center Guangzhou is a member of the World Trade Centers Association
and has established long-term business relationships with numerous World Trade
Center Association members both inside and outside China.
Statements made in this news release concerning predictions of performance and
the company's plans and objectives are not historic facts and constitute
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements involve
important risks and uncertainties that may cause results to differ materially
from those set forth in this news release. All forward-looking statements are
subject to the successful completion of actions described in the news release.
Readers should carefully review the company and publicly available filings
thoroughly with their registered investment adviser or registered broker.
CONTACT: TEL: (800) 791-5777 Sy Mitzner, Pace Communications Networ
WEBSITE: www.china-wtc.com
URL: www.china-wtc.com
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
-0-
KEYWORD: New York, New York
*** end of story ***
imo
China World Trade Corp. Completes Acquisition of Vast Opportunity Ltd.
LOS ANGELES--(BUSINESS WIRE)--Dec. 27, 2000--China World Trade
Corp. (OTCBB:CHWT) announced that the company has completed the
acquisition of the remaining 49% equity interest of Infotech
Enterprises Ltd. from Vast Opportunity Ltd.
The acquisition was completed by the issuance of 2.5 million new
shares of the common stock of the company Infotech Enterprises Ltd. ("IEL") is a "virtual" office and research center, providing trade information for traders in China and other foreign countries and an electronic data interchange for all its
members and users using its site as a portal to the Web. IEL aims to be the premier business-to-business e-commerce provider in China.
John H.W. Hui, chairman and chief executive officer of China World Trade Corp., stated: "Infotech Enterprises Ltd. (IEL), becoming a wholly owned subsidiary of China World Trade Corp., brings a new concept into international business-to-business e-commerce. "With a staff experienced in Quality Assurance and Fulfillment, combined with state-of-the-art Internet technology, Infotech Enterprises Ltd. (IEL) will provide business overseas with the comfort required to do business in China. Moreover, through its links to government bodies it can ensure that the legal requirements of trade are satisfied, making for on time delivery."
Through its bilingual (Chinese/English) Web site, China-WTC.com,
IEL will provide online information and services to individual and corporate consumers, advertisers, suppliers and vendors. It will capture data and information (both trade and non-trade
oriented), performing data mining from the best search engines,
supported by metadata analysis, to provide business opportunities, communication platforms and a variety of other services that create a successful business-to-business e-commerce portal. With the addition of online two-way English/Chinese translation tools, users have a real
bilingual choice.
China-WTC.com will be an easy-to-use business portal for members
to, among other things, retrieve trade information, submit trade
inquiries, negotiate contracts, translate documents into their
preferred language, calculate tariff and VAT, monitor trade progress, do logistics planning, consult legal advice online and transmit trade documents electronically.
China-WTC.com will be licensing its other subsidiary, Beijing
World Trade Center Club (BWTCC), to distribute the China-WTC.com
services to Chinese users. With the expected boom of e-business in Asia in the next few years, it is planned to expand this franchising to other WTCA clubs in major cities like Washington, D.C.; Chicago; London; Tokyo; Singapore; Kuala Lumpur; and Seoul.
Statements made in this news release concerning predictions of
performance and the company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release.
Readers should carefully review the company and publicly available filings thoroughly with their registered investment advisor or registered broker
CONTACT: Pace Communications Network
Sy Mitzner, 800/719-5777
www.China-WTC.
China World Trade Corporation Appoints Two Independent Directors
LOS ANGELES, Dec 13, 2000 (BUSINESS WIRE) -- China World Trade Corporation
("CHWT")(OTCBB:CHWT) is proud to announce that it has appointed two independent
directors, Peter Hurst and Wai Tung Cheung, to join the company's audit
committee.
Peter Hurst has vast and extensive working experience in the banking industry.
He was the Director of Corporate Banking for National Westminster Bank PLC,
overseeing offshore units in Asia Pacific and the Middle East. For the past
decade, Mr. Hurst acted as both a consultant and a member of the European
Advisory Committee for Mitsubishi Electric Co., advising on organizational
structure, localization and cultural interchange.
Wai Tung Cheung is the Chairman of Culturecom Ltd., which is listed on the Hong
Kong Stock Exchange. Mr. Cheung is responsible for corporate strategic planning
and business development for Culturecom Ltd. Mr. Cheung is also the Chairman of
ViaGOLD Capital Ltd., which is listed on the stock exchange of Australia. He was
also the Chief Executive Officer of COSCO Group in Hong Kong and Singapore.
These appointments, together with a third soon-to-be-appointed independent
director, is considered to be the preparatory step for the company to attain a
full listing on one of the well-established national exchanges.
John H.W. Hui, Chairman and Chief Executive Officer of China World Trade
Corporation, stated, "As is evident from the additions of Mr. Hurst and Mr.
Cheung, the company is clearly focused on building a solid and successful
management team, which will enable us to further widen our pipeline into the
massive opportunities abundant in the ever-growing 'China Marketplace.'"
China World Trade Corporation is structured to be a dominant player in the trade
agency business linking companies in China with the rest of the world.
Statements made in this news release concerning predictions of performance and
the company's plans and objectives are not historic facts and constitute
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements involve
important risks and uncertainties that may cause results to differ materially
from those set forth in this news release. All forward-looking statements are
subject to the successful completion of actions described in the news release.
Readers should carefully review the company and publicly available filings
thoroughly with their registered investment advisor or registered broker.
CONTACT: Pace Communications Network
Sy Mitzner, 800/719-5777
www.chinawtc.com
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2000 Business Wire. All rights reserved.
-0-
KEYWORD: AUSTRALIA HONG KONG SINGAPORE
INDUSTRY KEYWORD: BANKING
MANAGEMENT
CHANGES
*** end of story ***
imo
CHWT is looking strong, 13 MM's trading now, lots of support above $2.25, and look it's inching toward $3!
imo
Those Chinese is not the company news... just some B2B trading info on the site, remember it's a B2B exchange site?
IMHO, they need some better programmers and have to upgrade their websites... the sites are soooooo slow, and buggy!
I for one won't visit them again unless they make the changes.
http://www.chinacwt.com
http://market188.com
signed,
Bernard
CWTC has signed a Memorandum of Agreement to take a majority stake in this company that is a market leader in China: http://www.market188.com/
I went to the site and couldn't find little in English, looks busy though, apparently, you can get Fiji apples from these guys, and other things:
c FUJI APPLES FROM CHINA©ú(11ÔÂ9ÈÕ)
c PAPERS©ú(11ÔÂ9ÈÕ)
c WOODEN BOX , FRAME WOODEN PRODUCT©ú(11ÔÂ9ÈÕ)
c MEDICAL OPTICAL FRAMES & MEDICAL LENSES©ú(11ÔÂ9ÈÕ)
c MINI TRUK CARS SPARE PARTS©ú(11ÔÂ9ÈÕ)
c FINE JEWELRY©ú(11ÔÂ9ÈÕ)
c ÍÁ¶úÆäÇó¹ºËéÃשú(11ÔÂ8ÈÕ)
c ÍÁ¶úÆäÇó¹ºÆ¤¾ß©ú(11ÔÂ8ÈÕ)
c ÍÁ¶úÆäÇó¹ºÍøÂçÔÁÏ©ú(11ÔÂ8ÈÕ)
c ÍÁ¶úÆäÇó¹ºÎľߩú(11ÔÂ8ÈÕ)
B2B commerce between Us and China is huge, online facilitation would seem to be a very good mkt, with a lot of potential, especially if CHWT starts acquiring companies like market188.com, before you know it they have a corner on the mkt, and then down the road are the B2B ebay of China/USA internet commerce.
Once they sign the deal, I would expect them to announce details of this acquisition.
imo
Jerome,
Nice DD, looks like it has excellent potential, and decided
to pick up a few to start, will add as I go, Thanks, k4s
PR out today and starting trading, going long, profile that I recieved looks good, will keep doing DD.
imo
China World Trade Center Ltd. Commences Public Trading
LOS ANGELES--(BUSINESS WIRE)--Nov. 8, 2000--China World Trade Center Ltd. (OTCBB:CHWT - news) announced today that the company's common stock officially commenced trading under the trade symbol ``CHWT' on the United States Over The Counter market.
China World Trade Corp. is structured to be a dominant player in the trade agency business linking companies in China with the rest of the world.
China World Trade Center Ltd. projects top-line revenue growth approaching $1 billion over the next five years, and profitability within the first two years of operation. The total number of shares issued and outstanding is approximately 22 million with a float of approximately 5 million common shares.
John H. W. Hui, chairman and chief executive officer of China World Trade Center, stated: ``Our company possesses a genuine competitive edge in connection with our ability to function as the premier small- and medium-size business liaison between Eastern and Western economic interests.'
China World Trade Corp. will provide small- and medium-sized business with accurate information and overcome both language and cultural barriers while eliminating the high cost of traveling to or communicating with China.
China World Trade Corp.'s marketing strategy includes alliances with suppliers that can contribute goods, services and local expertise desired by those who wish to conduct business in the huge emerging ``China marketplace.' These alliances will be the basis for trade agency revenue.
China World Trade Corp. has a visionary management team that has established powerful partnerships through a joint venture with Beijing Wanlong Economic Consultancy Corp., a fully owned subsidiary of World Trade Center Beijing. World Trade Center Beijing is a member of the World Trade Center Association, one of the divisions of China Council for the Promotion of International Trade.
For continued company updates and corporate profiles, investors, analysts and brokers can contact Kathryn Jensen or associates at Stockcom International Inc. 877/878-6909 or e-mail CEO@stockpr.com. For the corporate Web site, go to www.china-wct.com.
Statements made in this news release concerning predictions of performance and the company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release. Readers should carefully review the company and publicly available filings thoroughly with their registered investment advisor or registered broker.
--------------------------------------------------------------------------------
Contact:
for China World Trade Center Ltd.
Stockcom International Inc.
Kathryn Jensen, 877/878-6909
CEO@stockpr.com
www.china-wct.com
imo
Followers
|
1
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
17
|
Created
|
11/08/00
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |