18:09:19 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



SEC target Miyana asks judge to spare him jail

2017-02-23 10:36 ET - Street Wire

Also Street Wire (U-*SEC) U S Securities and Exchange Commission
Also Street Wire (U-FNRG) Forcefield Energy Inc

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Maroof Miyana, a former Florida broker who pleaded guilty to accepting kickbacks during the Forcefield Energy Inc. manipulation, has asked the judge to sentence him to one year of home confinement. He says that his role in the scheme was minimal, amounting to buying $250,000 worth of shares in client accounts. (All figures are in U.S. dollars.) He also says that he has suffered plenty already, as he lost his brokerage job and is facing deportation to India.

The request from Mr. Miyana, 36, comes as part of a case in which prosecutors said that he aided a Canadian, Richard St. Julien, as part of a scheme to manipulate Forcefield in 2015. According to the government, Mr. St. Julien paid secret kickbacks to brokers and others he had hired to pitch the company, with those brokers including Mr. Miyana. 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).

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed