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by Mike Caswell

San Diego lawyers Luis Carrillo and Wade Huettel should jointly pay $13-million for their role in a boiler room scheme, a New York magistrate judge has determined. (All figures are in U.S. dollars.) The judge has found that the actions of the men facilitated the illegal sale of millions of shares in a pair of pink sheets listings by a group of Canadians. Among other things, Mr. Carrillo and Mr. Huettel set up an ownership structure that concealed the true control of the companies.

The recommended penalty comes as part of a case in which the U.S. Securities and Exchange Commission claimed that Mr. Carrillo and Mr. Huettel aided a scheme run by Vancouver's John Kirk and others. The group boosted two companies with bogus claims about infomercials and solar power in 2010, the SEC said. The companies, Pacific Blue Energy Corp. and Tradeshow Marketing Ltd., went to well above $1 before falling to under a penny.

LUISCARRILLO.NET

Luis Carrillo

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