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by Mike Caswell

Jared Mitchell, described by prosecutors as the "brown bag man" in the Forcefield Energy Inc. manipulation, has received three years in jail. He received the sentence in an appearance on Wednesday, Aug. 2, before New York Judge Brian Cogan. The judge gave Mr. Mitchell until Nov. 3, 2017, to surrender to the Bureau of Prisons.

Prosecutors claimed that Mr. Mitchell helped Richard St. Julien, a Canadian who was the former chairman of Forcefield, during a lengthy scheme to manipulate the stock. Mr. Mitchell ran secret kickbacks to brokers who bought shares in client accounts. The stock went to a $7.54 high during the scheme. (All figures are in U.S. dollars.) Most investors suffered catastrophic losses after the U.S. Securities and Exchange Commission halted Forcefield on April 21, 2015, citing a possible manipulation in progress. Mr. Mitchell entered a guilty plea on Nov. 3, 2016.

In addition to the jail term, Mr. Mitchell is subject to a $9.1-million restitution order. The judge further barred him from working in the financial services industry during his probation, which will be three years. The terms of his probation also include participation in drug and mental health treatment programs. (While Mr. Mitchell received his sentence on Aug. 2, the judgment was not released until Aug. 10.)

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