Nuada Limited 洛爾達有限公司

Mr Chan is a Responsible Officer of Nuada Ltd, a HK-licensed financial adviser. Without denying or admitting liability, he agrees to pay US$100,000 to settle allegations of involvement in a pump-and-dump US penny stocks scam. So far as we know, the HK SFC has not taken any action against him.

Those charged in the civil fraud case include Bernard Chan Kwong-chung, who runs an SFC-licensed financial adviser called Nuada Ltd, which has been criticised numerous times on Webb-site, and Daniel Ng Chi-shing, a member of the Hong Kong Government's Digital 21 Strategy Advisory Committee. Ng has agreed to be barred from acting as an officer or director of a public reporting company, and his company agreed to pay US$200k in disgorgement. Chan has not settled. Postscript: Mr Ng resigned from D21SAC on 16-Feb-2011.

According to a judgment published today, when Karce (1159) sold a PCB business in 2008, the price was actually US$4m, not US$3m as Karce announced, and US$1m went as a "consultancy fee" to a company called Extract Group Ltd. And guess who owned Extract? We tell you, and call on the SFC and SEHK to investigate.

In part 3 of a series, we look at the often calamitous IPOs produced by B M Intelligence and its conversion into China Bio-med Regeneration Technology, involving a huge mark-up on the acquisition. We also cover an international organisation run out of a cobbler's shop in Las Vegas, and the recent changes of ownership in CBRT, including a CPPC member who is a big fan of the PLA.

In part 2 of a series, we look at how HK$16bn of market cap evaporated when bubbles around China Railway Logistics, PME and Forefront burst. Each dealt with the same purported arm of the Ministry of Railways for joint ventures in wagon-leasing, media and online ticketing, each of which failed to get started. A miriad of BVI shells with shadowy owners are involved, but at least one has exposed himself in a court case.