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by Mike Caswell

Irwin Boock, the Toronto man who incurred judgments totalling $16.8-million in the United States for a corporate hijacking scheme that dates back to 2003, has appealed his fines. (All figures are in U.S. dollars.) He has not yet stated his grounds of appeal, but he previously claimed that he made a videotaped confession under duress. He also said he was under the effects of heart medication when he made the confession.

The penalties stem from a scheme in which the U.S. Securities and Exchange Commission claimed that Mr. Boock and others took over the identities of several inactive pink sheets companies. The group filed false paperwork that gave them control over the companies, and then sold them as shells, grossing millions, according to the SEC. The stocks produced from the scheme included a shell that became Paramount Gold and Silver Corp., a Toronto Stock Exchange listing. The case resulted in an initial $11.2-million judgment against Mr. Boock, followed by a $5.6-million order.

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