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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).
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