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by Mike Caswell

The U.S. Securities and Exchange Commission claims that Canada's Berardino "Dino" Paolucci Jr. is ignoring civil fraud charges stemming from an OTC Bulletin Board manipulation. The SEC says that it served him with the case in Mississauga on Dec. 12, 2016, but he has not responded. The regulator is asking for a motion that would allow it to penalize him by default.

The charges against Mr. Paolucci, 38, stem from the manipulation of Ecoland International Inc., a purported car parts listing. The company went to $1.24 from 11.2 cents in a 10-day span in 2012. (All figures are in U.S. dollars.) According to the SEC, Mr. Paolucci was behind spam that advised investors of "big gains as this stock doubles over and over again."

The case is now over three months old, and Mr. Paolucci has yet to file an answer to the charges. This remains so despite the SEC's efforts to personally serve him. (There could be some question about the success of those efforts. The only documentation is a very brief note from a process server who attended an address in Mississauga. The note reads: "Personal service. Claims Bernardino is not him. However showed me his drivers licence and it read Dino Paolucci.")

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