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by Mike Caswell

Toronto's Irwin Boock has lost his appeal of $16.8-million in sanctions he received for a corporate hijacking scheme. (All figures are in U.S. dollars.) In a decision handed down on Thursday, Aug. 13, the U.S. Court of Appeals for the Second Circuit has denied the appeal as being too late. Mr. Boock, who is representing himself in the case, missed filing deadlines, including a 60-day period to appeal a ruling handed down in 2012.

Thursday's judgment upholds penalties the U.S. Securities and Exchange Commission won against Mr. Boock for a scheme in which he 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 the companies 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, and another that became Surrey-based World Hockey Association Corp. (The SEC did not accuse either company of any wrongdoing.)

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