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by Mike Caswell

Naveed Khan, a former New York broker who pleaded guilty to fraud charges stemming from the $131-million Forcefield Energy Inc. scheme, has asked the judge to spare him jail. (All figures are in U.S. dollars.) He claims that he regrets accepting cash payments in return for putting one-third of his clients into the stock. He also contends that his role in the manipulation was minimal, coming in the final months of the five-year fraud.

Mr. Khan is awaiting sentencing for a scheme in which prosecutors cited a Canadian, Richard St. Julien, for defrauding investors through a lengthy manipulation of Forcefield. According to the government, Mr. St. Julien paid secret kickbacks to many people, including Mr. Khan, to get investors to buy the stock. Most of those investors suffered catastrophic losses after the U.S. Securities and Exchange Commission halted Forcefield on April 21, 2015, citing a possible manipulation in progress. The stock, which had a $7.54 high, became nearly worthless (and was last at 0.01 cent).

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