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SEC charges Jensen over Forcefield solicitations

2017-10-03 20:34 ET - Street Wire

Also Street Wire (U-FNRG) Forcefield Energy Inc

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by Mike Caswell

The U.S. Securities and Exchange Commission has added more civil charges for the Forcefield Energy Inc. scheme, bringing a case against an Idaho accountant named Brian C. Jensen. The SEC says that Mr. Jensen brought over $2-million worth of investments into Forcefield while failing to disclose kickbacks he was receiving from the scheme's Canadian mastermind, Richard St. Julien. (All figures are in U.S. dollars.) Mr. Jensen told at least some of those investors that the stock would move as high as $12, the SEC claims.

The charges against Mr. Jensen come with Mr. St. Julien and several others in prison for their parts in the manipulation. Prosecutors in New York claim that Mr. St. Julien, who was Forcefield's chairman, ran a lengthy scheme to boost the company by paying kickbacks to brokers and others. The stock went to a $7.54 high during the scheme. Most investors suffered catastrophic losses after the SEC halted Forcefield on April 21, 2015, citing a possible manipulation in progress.

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