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by Mike Caswell

Vancouver's Marco Babini is negotiating a plea agreement with prosecutors in Boston that could see him avoid trial on charges for a 2012 scheme on the U.S. markets. Prosecutors claim that Mr. Babini participated in the manipulation of Endeavor Power Corp., a company that touted a proprietary testing system for infectious diseases. He and others planned a scheme that included kickbacks, paid tout sheets and manipulative trading, according to the government.

Mr. Babini has been awaiting trial since July 7, 2023, when he arrived in the U.S. after a lengthy extradition effort. The trial is not yet scheduled, and it appears that one may not be necessary. A status report filed in the case on Thursday, Oct. 26, states that Mr. Babini and prosecutors are "engaged in ongoing and diligent" plea discussions. While such discussions are common, the report also states that all sides believe that they will reach an out-of-court deal.

The negotiations come with prosecutors having previously said that they have a strong case against Mr. Babini. The evidence against him includes phone recordings, the testimony of a co-accused, and bank and brokerage records. The phone recordings captured him setting up prearranged trades with an undercover FBI agent, prosecutors claimed.

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