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by Mike Caswell

Recidivist securities violator Jonathan Curshen, 47, has been convicted by a Miami jury for his role in the pump-and-dump of CO2 Tech Ltd., a pink sheets company that touted a line of pollution control products. The verdict, delivered on Tuesday, Jan. 31, came after an 11-day trial during which prosecutors argued that Mr. Curshen helped dump $7-million worth of CO2 Tech shares while the company falsely claimed to have a business relationship with Boeing. (All figures are in U.S. dollars.) Also convicted on Tuesday was Nathan Montgomery, 30, a Las Vegas man who helped with wash trading in the scheme.

Witnesses at the trial included former Pacific International Securities Inc. broker David Ricci, who faced related charges but reached a deal in which he agreed to testify for the prosecution. According to prosecutors, Mr. Ricci worked for Mr. Curshen's company in Costa Rica, and helped him execute a series of wash trades that boosted CO2 Tech.

Mr. Curshen's conviction is the latest of three securities-related offences for which the Florida promoter has been found guilty. They include the 2000 pump-and-dump of Freedom Golf Inc., in which he and others dumped over $500,000 worth of stock after posting baseless revenue and profit predictions for the company on-line. The U.S. Securities and Exchange Commission won a $116,953 civil penalty against him for that promotion as well as a permanent penny stock ban. (The trial included testimony from former Union Securities Ltd. employees Trevor Koenig and Joe Fernando, who worked at the firm's White Rock branch.)

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