07:17:00 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



SEC target Knippa pleads guilty to Forcefield scheme

2017-03-01 10:20 ET - Street Wire

See Street Wire (C-*SEC) U S Securities and Exchange Commission

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Tres Knippa, a Texas man accused of helping the Forcefield Energy Inc. manipulation through television appearances, has pleaded guilty to one count of conspiracy to commit securities fraud. He entered the plea in an afternoon hearing before New York Judge Ramon Reyes Jr. The judge allowed him to remain free on a $100,000 bond until sentencing. (All figures are in U.S. dollars.)

In pleading guilty, Mr. Knippa has admitted that he was part of a manipulation run by Richard St. Julien, the Canadian who was Forcefield's chairman. Prosecutors said that the scheme defrauded investors of millions of dollars. Mr. Knippa and others allegedly accepted secret kickbacks from Mr. St. Julien to raise money for Forcefield. Mr. Knippa's role included appearances on Business News Network and on the Fox Business channel to pitch the stock, the government claimed. The efforts of the men boosted Forcefield to a $7.82 high before it attracted a halt from the U.S. Securities and Exchange Commission. (The company was last at 0.01 cent.)

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed