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by Mike Caswell

Christopher Kuchanny, the Bermuda fund manager charged by the U.S. Securities and Exchange Commission for illegal short-selling in Central Fund of Canada Ltd., has asked that the judge dismiss the case against him. He claims there is no evidence that anything he did violated U.S. law. He says that he executed trades through a brokerage in London, England, and that the instruments he traded were not listed on any U.S. exchange.

The charges against Mr. Kuchanny stem from trades that he executed in 2009 through an entity called Revelation Capital Management Ltd. The SEC claims that Revelation made $1.3-million in part by short-selling Central Fund of Canada ahead of an offering in which Revelation participated. (All figures are in U.S. dollars.) The trading violated U.S. rules intended to prevent those buying shares in an offering from manipulating the price, the SEC says.

ROYAL GAZETTE

Chris Kuchanny

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