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by Mike Caswell

U.S. federal prosecutors have requested three years in prison for Julius Csurgo, a Toronto-area man awaiting sentencing for his part in a $35-million pump-and-dump scheme on the U.S. markets. (All figures are in U.S. dollars.) They say that Mr. Csurgo personally realized $9.6-million as he helped to manipulate 19 companies. His conduct was "flagrant, manipulative, and motivated by sheer greed," prosecutors contend.

The request from prosecutors comes as part of a case in which they cited Mr. Csurgo, 71, for a fraud involving associates working in Europe, the Bahamas and Canada. The men paid to boost companies that they secretly controlled, with Mr. Csurgo's part in the scheme going back to 2017, prosecutors said. There was no trial for Mr. Csurgo, as he pleaded guilty to charges of securities fraud and wire fraud, along with associated conspiracy counts.

With Mr. Csurgo's sentencing date approaching, prosecutors have set out what they see as an appropriate punishment. In a letter to the judge filed on Aug. 28, 2026, they describe Mr. Csurgo's crime as one punishable with a significant jail term. He carried out a "brazen and classic pump-and-dump scheme" designed to steal millions of dollars from innocent investors, the government contends.

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