[SEC-SICD * CASE NO. 5523. June 27, 2000.]
For: Breach of Trading Contract, Recovery of Investments and Damages
EDWARD C. YAP, complainant, vs. QUEENSLAND TOKYO COMMODITIES, INC., ET AL., respondents.
Trading Contract; breach of; refund of investments; case at bar. — In the case at bar, there was inherent fraud from the very beginning. . . . In sum, the manipulation is very evident and it only shows that there was no trading that happened but the price is only dictated by the respondents to the prejudice of the complainant. . . . There being fraud and misrepresentation on the part of the respondents, complainant is entitled to the refund of his investments, nothing more, nothing less. TaDCEc
D E C I S I O N
This is an action for breach of trading contract, recovery of investments and damages filed by complainant Edward C. Yap (Yap for brevity) against Queensland Tokyo Commodities, Inc. (Queensland for brevity) and Jorge S. Peña (Peña for brevity).
In his Complaint, Yap alleged that respondent Pea convinced and persuaded him to invest with Queensland in...
