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by Mike Caswell

Don Rose, the former broker charged alongside Toronto's Berardino "Dino" Paolucci for the Ecoland International Inc. manipulation, denies that he did anything wrong. He claims that there was no scheme to boost the stock that involved him. He also says that all of his transactions in Ecoland shares were reviewed by experienced securities lawyers.

The denials from Mr. Rose come as part of a case in which the U.S. Securities and Exchange Commission says that he knowingly took part in a fraudulent effort to manipulate Ecoland in 2011. The regulator accused him of participating in matched trades in support of the scheme. The SEC also said that he sold millions of shares and transferred the proceeds to nominees.

The SEC has already obtained substantial sanctions in the case. On Aug. 10, 2017, a Pennsylvania judge imposed $4.41-million in penalties on Mr. Paolucci. The judge also imposed a permanent penny stock ban. The sanctions were by default, as Mr. Paolucci ignored the matter entirely.

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