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U.S. Securities and Exchange Commission

CKB168 Holdings Ltd.

The Securities and Exchange Commission filed an emergency action against a number of entities and individuals operating a pyramid scheme under the name CKB168. The Defendants include:

CKB168 Holdings Ltd.
WIN168 Biz Solutions Ltd.
CKB168 Ltd.
CKB168 Biz Solution, Inc.
Cyber Kids Best Education Ltd.
Rayla Melcher Santos
Hung Wai ("Howard") Shern
Rui Ling ("Florence") Leung
Daliang ("David") Guo
Yao Lin
Chih Hsuan "Kiki" Lin
Wen Chen Hwang (Aka "Wendy Lee")
Toni Tong Chen
Cheongwha "Heywood" Chang
Joan Congyi Ma (aka"JC Ma")
Heidi Mao Liu (aka "Heidi Mao")

The Commission's complaint alleges that the Defendants violated antifraud and registration provisions of the federal securities laws.  On October 9, 2013, Judge Roslynn R. Mauskopf, United States District Judge for the Eastern District of New York, granted the Commission's request for a temporary restraining order, asset freezes, and other relief.  A link to the Commission's complaint may be found here.

In November 2013, Judge Mauskopf issued preliminary injunction orders against all the Defendants, which continued the asset freezes and other relief through the duration of this case.  The Commission’s action is currently in the discovery phase, where the parties exchange documents and other information.  The court has not set a trial date.

The Commission's press release may be found here.

For more information about Pyramid Schemes, see the Investor Alert. (Chinese version)

If you were an investor in CKB168 or have any information concerning the alleged fraud, you can contact the Securities and Exchange Commission at CKBInquiries@sec.gov.

http://www.sec.gov/divisions/enforce/claims/ckb168.htm

The Office of Investor Education and Advocacy has provided this information as a service to investors. It is neither a legal interpretation nor a statement of SEC policy. If you have questions concerning the meaning or application of a particular law or rule, please consult with an attorney who specializes in securities law.


Modified: 04/21/2014