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by Mike Caswell

The U.S. Securities and Exchange Commission has won a permanent penny stock ban and $10.35-million in financial penalties against recidivist securities violator Jonathan Curshen, 47. (All figures are in U.S. dollars.) The sanctions, contained in a default judgment handed down in Miami on Thursday, Nov. 1, stem from the pump-and-dump of CO2 Tech Ltd., a pink sheets company that falsely claimed to have a relationship with Boeing. The SEC said that Mr. Curshen helped dump $7-million worth of stock.

The ban is the second for Mr. Curshen. The SEC previously won a permanent penny stock ban against him for the 2000 pump-and-dump of Freedom Golf Inc., after claiming that he and others dumped over $500,000 worth of stock while posting baseless revenue and profit predictions for the company on-line. (The trial in that case featured testimony from former Union Securities Ltd. employees Trevor Koenig and Joe Fernando, who worked at the firm's controversial White Rock branch.)

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