SEC
Whistleblower
Advocates

July 08, 2016

Cheongwha "Heywood" Chang, Toni Tong Chen, HTC Consulting LLC, Arcadia Business Consulting, Inc.

Offering Fraud

SANCTION AMOUNT: $2,101,950

Defendants: HTC Consulting LLC, Arcadia Business Consulting, Inc.
Cheongwha "Heywood" Chang, Toni Tong Chen

Settlement with pyramid scheme promoters and associated relief defendants. Top of pyramid was Hong Kong company CKB168 Holdings Ltd., a purported internet-based child educaton venture offering exponential, risk-free returns. Scheme raised tens of millions of dollars, ensnaring nuerous investors in multiple countries

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