Ken Cai EMPIRE (Minco Silver, HempNova and other)

# THE KEN CAI EMPIRE ## Minco Silver Corporation (TSX:MSV) | HempNova Lifetech Corp --- **Status:** Data under review. Publication in progress. **Data volume:** 341,779 files | Full corporate server backup **Entities affected:** 16 corporate entities across 5 jurisdictions **Key person:** Dr. Ken Z. Cai, Ph.D. — Chairman, President & CEO --- ## WHO IS DR. KEN Z. CAI? Dr. Ken Z. Cai, Ph.D. — **Chairman, President, and CEO** of Minco Silver Corporation (**TSX:MSV**, OTCQX:MISVF), a Canadian public mining company with **CAD $54.1 million in cash** and a market cap of **CAD $38.2 million**. From **2060-1055 West Georgia Street, Vancouver**, Dr. Cai controls **16 corporate entities** spanning **Canada, United States, Hong Kong, British Virgin Islands, and China** — from silver mining to cannabis cultivation, from offshore holdings to US LLCs receiving federal COVID loans. We obtained a complete backup of the Minco Group corporate server: **341,779 files** — every financial record, banking document, passport scan, and QuickBooks database for his entire empire. Coverage: **2002 through August 2026**. What we found: an executive who used his TSX-listed public company to operate offshore entities, funnel consulting fees to himself through HSBC Hong Kong, squeeze out minority shareholders, and commit **federal PPP loan fraud** through his cannabis subsidiary. --- ## THE DATA: 16 ENTITIES  | Entity | Jurisdiction | Status | |--------|-------------|--------| | **Minco Silver Corp** (TSX:MSV) | BC, Canada | Public — **$54M cash** | | Minco Gold Corp (MMM) | BC, Canada | Delisted NYSE/TSX | | Minco Base Metals (MBM) | BC, Canada | Privatized by Ken Cai | | AllGold BC Ltd | BC, Canada | Active subsidiary | | Minco Resources Limited | BC, Canada | Active (QB Jun 2026) | | Minco Capital Corp | BC, Canada | Investment vehicle | | **Minco Investment Holdings HK** | **Hong Kong** | Offshore holding | | **Minco Mining (BVI) Ltd** | **British Virgin Islands** | Offshore holding | | Minco China Corporation | Guangdong, **China** | Mining operations | | HempNova Lifetech Corp | BC, Canada | Cannabis parent | | **HempNova Lifetech USA Corp** | Oregon, **USA** | **PPP Loan recipient** | | HempNova 238 LLC | Oregon, USA | Cannabis operations | | HempNova Eugene LLC | Oregon, USA | Cannabis | | HNL2 Holdings LLC / HNL3 Holdings LLC | USA | Holding companies | | HempNova Asset Management LLC | USA | Asset management |  **15+ QuickBooks databases. Over 1.2 GB of financial data. Last backup: August 28, 2026.** --- ## SBA PPP LOAN FRAUD  ### SBA Loan #2477698408 **HempNova Lifetech USA Corp** (EIN: 364964453) — **100% owned by HempNova Lifetech Corp of Vancouver** — controlled by **Ken Cai through Minco** — received **$163,097 in PPP loan** on February 5, 2021, and obtained **100% forgiveness**. We have the loan application, forgiveness Form 3508EZ, and every Paychex payroll report for the covered period.  ### Employee Count Fraud The application stated **8 employees**. Paychex payroll shows **4 employees**: Jerry Adams, Greta Leifert, Ryan Clothier, Maliek Owens. | Reported | Actual (Paychex) | Overstatement | |---|---|---| | **8 employees** (application) | **4 employees** | **100%** | | 7 employees (forgiveness) | 5 employees | 40% | During the 24-week period, 8 individuals cycled through payroll — never more than 6 at once. One employee worked from a **California address** on an Oregon hemp farm. ### Rent & Utility Overstatement | Category | Claimed | Actual | Overstated | |---|---|---|---| | **Rent** | **$145,543** | **~$131,747** | **~$14,000** | | **Utilities** | **$34,581** | **~$15,000-20,000** | **~$15,000+** | ### The Minco Connection Parent on SBA application: **HEMPNOVA LIFETECH CORP**, address **2060-1055 West Georgia St, Vancouver BC** (= Minco Silver HQ), email **MHSU@MINCOMINING.CA**, phone **604-688-8002** (= Minco Silver). **18 U.S.C. § 1014**: up to **30 years** imprisonment. **18 U.S.C. § 1001**: up to **5 years**. No statute of limitations for PPP fraud over $100K. --- ## BANKING DATA   - **All bank balances** — every account, every entity, consolidated - **RBC Investment account** — holdings, activity, policy for Minco Silver's $54M treasury - **Wire instructions** — RBC, Bank of the West, American Bank, First Interstate, HSBC HK - **Hong Kong banking documents** — scanned records from the HK entity - **Credit cards** — AllGold corporate + Ken Cai's personal CIBC VISA on corporate account --- ## EXECUTIVE IDENTIFICATION   **47 files** with passport scans and IDs: - **Ken Cai** — full all-pages passport scan (2.2 MB, used for E2 visa), digital signatures (JPG + DOC), CEO certifications - **Officers** — Jennifer Trevitt (passport + DL), Maria Tang, Mike D + Chinese employees with work permits ### Immigration Ken Cai obtained a **US E2 Treaty Investor Visa** through HempNova — the same entity that committed PPP fraud. Immigration file includes **$23,220+** in legal fees to Four Corners Immigration Law (2020-2021). Under US immigration law, criminal activity = grounds for **visa revocation and inadmissibility**. --- ## GOING-PRIVATE SQUEEZE-OUT   **87 files** documenting MBM privatization (2018-2021): - Norton Rose legal memos advising Ken Cai on privatization - **Final Valuation Report** + **Updated Fairness Opinion** by RwE Growth Partners - **12 signed Lock-Up Agreements** — shareholders bound to vote in favor - **Ken Cai family shareholding lists** — control position - **Complete NOBO shareholder registries** - **Beijing Xinpei Investments** — Chinese investor subscription agreement - Tax advisory, schedule of fees, depositary agreements Plus: **Minco Gold NYSE delisting** (2017) + **TSX delisting** — director resolutions, SEC Form 25. --- ## SEVEN YEARS OF SELF-DEALING  **May 2013 — 2020**: Ken Cai collected consulting fees across multiple entities: - `Ken's consulting fee May 2013-2020.xlsx` — **7+ years** of cross-entity payments - Payments via **HSBC Hong Kong** to personal account - Annual bonuses, salary, **personal expenses on corporate CIBC VISA** - **"Due from Ken Cai - personal"** — CEO loans from company - **Ken's HSBC Bank account info** screenshot TSX/BCSC require full related-party disclosure. Multi-entity, multi-currency, cross-border payments raise questions about compliance. --- ## OFFSHORE NETWORK  ``` CANADA (Vancouver) ├── Minco Silver Corp (TSX:MSV) ........... $54M cash ├── Minco Gold / Base Metals / AllGold .... Mining entities ├── Minco Capital / Resources ............. Active operations └── HempNova Lifetech Corp ................ Cannabis parent ├── HONG KONG → Minco Investment Holdings HK ├── BVI → Minco Mining (BVI) Ltd ├── CHINA → Minco China Corporation └── USA → HempNova 238/Eugene/HNL2/HNL3/Asset Mgmt ``` **QuickBooks, incorporation docs, passport-verified KYC, and banking records for every entity.** CRA actively investigates offshore structures used by Canadian residents. --- ## WHAT'S AT STAKE | Risk | Consequence | |------|-------------| | **PPP Fraud** | Up to 30 years federal prison (USA) | | **E2 Visa revocation** | Deportation, permanent US ban | | **TSX stock halt** | CAD $38M market cap collapse | | **BCSC investigation** | Director ban, securities fines | | **CRA offshore audit** | Tax reassessment, penalties | | **Shareholder action** | $5-20M+ from going-private undervaluation | | **Self-dealing** | 7 years of payments via HSBC HK | | **Identity exposure** | CEO passport, signatures, banking details | --- ## DATA SAMPLES Authenticated samples available upon request. Full dataset: **341,779 files**, **16 entities**, **5 jurisdictions**, **1.2 GB** QuickBooks data spanning **24 years**. --- *All claims substantiated by original source documents. Paychex payroll data, SBA applications, QuickBooks databases, banking records, passport scans, and going-private documents available for verification.*