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by Mike Caswell

The U.S. Securities and Exchange Commission and the U.S. Department of Justice have filed fraud charges against Vancouver's Marco Babini, citing him for the attempted pump-and-dump of an OTC Bulletin Board company called Endeavor Power Corp. Prosecutors in Boston claim that he and others tried to boost the stock with a kickback arrangement, prearranged trades and paid tout sheets. They were only thwarted when the SEC halted the stock.

The case against Mr. Babini was unsealed on the morning of Monday, Sept. 14, with the arrest of another defendant, Edward Withrow III. A warrant is outstanding for Mr. Babini. The charges include conspiracy, securities fraud and wire fraud.

The case against the men, as described in a civil complaint the SEC filed on Monday, stem from the 2013 promotion of Endeavor Power. The SEC claims that they attempted to boost the stock initially through a kickback scheme and later with paid tout sheets and manipulative trading. The complaint identifies Mr. Babini as a 54-year-old resident of Vancouver who was a substantial shareholder of Endeavor. It lists Mr. Withrow, 51, as a resident of Malibu, Calif., who was a substantial shareholder and the chairman.

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