A BCSC panel has maintained a freeze order against two Burnaby residents and an unregistered Burnaby company.
On April 30, 2012, the executive director issued a notice of hearing and temporary orders against Yan Zhu (also known as Rachel Zhu), Guan Qiang Zhang, and Bossteam E-Commerce Inc, alleging that they were running a Ponzi scheme. Zhu and Zhang are Burnaby residents.
On April 30, the commission made an order to freeze certain of the respondents’ assets.
The orders were made in connection with an investigation into certain activities of Zhu, Zhang and Bossteam. BCSC staff is alleging that those activities contravened the Securities Act.
At a hearing on July 18, the executive director asked the panel to extend temporary orders. While Zhu, Zhang and Bossteam applied to have the freeze order revoked, the panel refused both applications.