Pair facing big fines

Securities regulators have ordered $42 million in penalties against two former Burnaby residents it accused of numerous securities-related infractions, including fraud.

Yan Zhu, also known as Rachel Zhu, and Guan Qiang Zhang have also been permanently banned from public markets as a result of the offences, which included illegally distributing securities and withholding information from regulators. The B.C. Securities Commission also fined and permanently cease-traded Bossteam E-Commerce, the company co-founded by Zhu and Zhang.