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by Mike Caswell

Wayne Weaver, one of two Canadians charged in California for the Jammin' Java Corp. pump-and-dump, has asked that the judge throw out the case against him. He says that there is nothing to indicate that he sold any shares during the scheme. Moreover, there is no indication that he was acquainted with the alleged mastermind of the operation, a Kelowna man named Shane Whittle, he contends.

Mr. Weaver is responding to a case in which the U.S. Securities and Exchange Commission claims that he and others carried out a $78-million pump-and-dump of Jammin' Java in 2011. (All figures are in U.S. dollars.) The SEC said that the stock went to a $6.35 high while a group of promoters boosted it with false news and fraudulent on-line reports. A number of offshore companies, two of which the SEC associated with Mr. Weaver, sold millions of shares during the scheme, according to the complaint.

For his part, Mr. Weaver denies that he did anything illegal. In a motion to dismiss filed on June 3, 2016, he says that there is no evidence he had any role with the key portions of the pump-and-dump. The SEC attributes the formation of Jammin' Java and the subsequent false statements that boosted the stock to others, primarily Mr. Whittle, he says.

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