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SEC reaches $2.4-million (U.S.) deal with Whittle

2017-03-14 10:34 ET - Street Wire

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

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by Mike Caswell

The U.S. Securities and Exchange Commission has reached a $2.4-million settlement with Kelowna's Shane Whittle for the Jammin' Java Corp. scheme. (All figures are in U.S. dollars.) Mr. Whittle has agreed to pay the money to settle allegations that he participated in a 2011 pump-and-dump that boosted Jammin' Java to $6.35. He has also agreed to a 10-year ban.

The settlement comes about 16 months after the SEC charged Mr. Whittle and several others over Jammin' Java. The regulator claimed that the group touted the company as a coffee distributor that had a licence to use the trademarks of the late singer Bob Marley. Meanwhile offshore entities sold $78-million worth of stock, according to the SEC.

Shane Whittle and Rohan Marley
MARLEY COFFEE
Shane Whittle and Rohan Marley

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