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by Mike Caswell

Julius Csurgo, an Ontario man charged in the United States for a $35-million pump-and-dump scheme involving 19 companies, has pleaded not guilty. (All figures are in U.S. dollars.) Federal prosecutors in New York claim that Mr. Csurgo was part of a scheme involving associates working in Europe, the Bahamas and Canada that included co-ordinated promotional campaigns designed to boost companies he and the others controlled. The scheme ran from at least 2015 to 2019, according to the government.

Mr. Csurgo's plea is contained in an arraignment document entered on Wednesday, Nov. 19. According to the document, he entered the plea in an appearance on Nov. 13, the day he arrived in U.S. custody. (He had previously been arrested in Canada on the charges.) The judge ordered Mr. Csurgo detained until a hearing can be held to determine if he will remain in custody until trial.

The plea comes as part of a larger prosecution that the U.S. Department of Justice has been pursuing against a group of Canadians and others, with that group including Vancouver's Ronald Bauer. He agreed to a voluntary extradition (after being arrested in the United Kingdom), pleaded guilty and received 20 months in jail. Also charged in the same investigation were B.C. residents Curtis Lehner and Courtney Vasseur, who remain wanted.

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