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by Mike Caswell

A jury in California has convicted Donald Danks, a California man charged alongside Vancouver's David Stephens for a fraud with Loop Industries Inc. of Quebec. The men boosted Loop by convincing an elderly, vulnerable investor to make purchases on the market, the government claimed. The group unloaded the stock as it went to an $18 high, the government said. (All figures are in U.S. dollars.)

The jury convicted Mr. Danks on Thursday, Sept. 10, following a seven-day trial. The charges of which he was convicted were conspiracy to commit securities fraud, witness tampering, obstruction of justice and a false declaration before the court. He will be sentenced at a later date.

The conviction comes with his Canadian co-accused, Mr. Stephens, still wanted by U.S. authorities. The government said that Mr. Stephens covertly acquired the shell that became Loop. In doing so, he deliberately concealed his control over the company, according to the government.

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