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by Mike Caswell

Louis Petrossi, one of those charged for touting Canadian Richard St. Julien's Forcefield Energy Inc., should not be able to avoid a trial alongside his co-accused, according to prosecutors. They say that he played an essential role in a conspiracy to manipulate the company. His contribution to the scheme included raising $4.5-million from 60 investors while accepting secret payments, the government claims. (All figures are in U.S. dollars.)

Mr. Petrossi, 75, has been seeking a separate trial from the others in the case. He says that he would suffer substantial prejudice if he were to be tried alongside those others. The evidence against them includes numerous instances of large cash withdrawals and the purchases of hundreds of thousands of shares by nominees, he claims. As he sees it, the case against him is far simpler, only amounting to a failure to disclose commissions.

The debate over Mr. Petrossi's status comes as prosecutors are seeking to try him and others for a scheme that allegedly defrauded investors of millions. According to the government, Forcefield's chairman, Mr. St. Julien, paid secret kickbacks to brokers and others he had hired to pitch the company, including Mr. Petrossi. The stock went to a $7.84 high during the scheme. Most investors suffered catastrophic losses after the U.S. Securities and Exchange Commission halted Forcefield on April 21, 2015, citing a possible manipulation in progress. After the halt expired, the stock became nearly worthless (and was last at 0.01 cent).

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