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by Mike Caswell
Tres Knippa, a Texas man who pitched Richard St. Julien's Forcefield Energy Inc. on television, has pleaded not guilty to criminal charges stemming from the manipulation of that stock. He entered the plea in an appearance on Thursday, May 26, before New York Judge Brian Cogan. The judge allowed Mr. Knippa to remain free on a $100,000 bond. (All figures are in U.S. dollars.)
Prosecutors claim that Mr. Knippa was part of a scheme run by Mr. St. Julien, the Canadian who was Forcefield's chairman, with that scheme defrauding investors of millions of dollars. Mr. Knippa and others allegedly accepted secret kickbacks from Mr. St. Julien to raise money for the company. Mr. Knippa also appeared on Business News Network and on the Fox Business channel to pitch the stock, the government says. The efforts of the men boosted Forcefield to a $7.84 high before it attracted a halt from the U.S. Securities and Exchange Commission. (The stock was last at a penny.)
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| REDTHANDEAD |
| Tres Knippa |
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Sounds pretty weak. Minor transgressions at best. Being paid a commission to raise money in the states is the only way to do it. Either the brokerage firm/bank rapes you or the promoters do. Either way you gotta pay to play. Forecasting the future price of stock is a violation as is pretending to represent another investment firm but it doesn't say anywhere that they made false or misleading statements about the company, its business or finances.