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by Mike Caswell

Malcolm Stockdale, a Prince Edward Island resident facing criminal charges in the United States for an OTC Bulletin Board broker bribery scheme, has pleaded not guilty. He entered the plea in a court appearance on Friday, Aug. 2, in New York after he surrendered to U.S. authorities. A judge ordered him detained citing the risk that he not may not reappear, and a lack of "credible sureties," or people who could assure the court of his appearance.

Prosecutors claim that Mr. Stockdale, 67, and others offered to pay a 30-per-cent kickback to have brokers buy up to $4-million worth of shares in Dolphin Digital Media Inc., a Miami OTC Bulletin Board listing. (All figures are in U.S. dollars.) The company purportedly created secure social networking sites for children. Unfortunately for Mr. Stockdale and his associates, the person arranging the buying turned out to be an undercover FBI agent, and they were soon facing criminal charges.

Mr. Stockdale's court appearance comes about 20 months after U.S. authorities issued a warrant for his arrest. At the time he could not be located. A Sheriff sent to his last known address in PEI to serve him with related civil charges found the home no longer occupied. It is not clear where he has been since then, but court filings show that he "reached out to law enforcement agents" through e-mail to arrange his surrender, which took place on Aug. 2.

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