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by Mike Caswell

The U.S. Securities and Exchange Commission has filed civil fraud charges against Michael Skerry, a New Westminster resident who touted an OTC Link listing called Success Holding Group International Inc. According to the SEC, Mr. Skerry boosted the stock to $10.25 while touting businesses that included health drinks and on-line movies. At the same time, he was secretly selling shares, the SEC claims. In all, the scheme allegedly generated $957,712. (All figures are in U.S. dollars.)

The charges against Mr. Skerry are contained in a civil complaint that the SEC filed on Thursday, Sept. 28, in the Northern District of Indiana. The complaint identifies Mr. Skerry, 60, as a resident of New Westminster and as a one-time shareholder in Success Holdings. The complaint lists Success Holdings as a Nevada company purportedly in the business of producing short Internet films in China and developing a specialty drink.

The scheme, as described by the SEC, began in May, 2014, when Success Holdings hired Mr. Skerry to provide investor relations services. As part of the arrangement, the company agreed to pay Mr. Skerry $120,000. It also agreed to sell him 360,000 shares at 10 cents, the complaint states.

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