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
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.)
The remainder is available to Stockwatch subscribers.
© 2020 Canjex Publishing Ltd. All rights reserved.