02:34:30 EST Tue 20 Nov 2018
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U S Securities and Exchange Commission
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SEC defendant Knox loses motion for release

2018-11-05 10:05 ET - Street Wire

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by Mike Caswell

A judge in Boston has refused to release Roger "Rocket" Knox from jail, ordering that he remain there until his trial on fraud charges. The judge has determined that the evidence against Mr. Knox, who is accused of facilitating several pump-and-dumps, is strong. He is also a foreign national who faces a considerable jail term.

The ruling comes as part of a case in which prosecutors claim that Mr. Knox, 47, was part of a $164-million fraud that included at least four companies connected to the Vancouver area. (All figures are in U.S. dollars.) Through the use of nominees and omnibus accounts, he allowed insiders to secretly dump shares in the midst of touting campaigns, the government says. He and his firm, Wintercap SA, realized millions of dollars in gains from the scheme, according to prosecutors. Mr. Knox previously pleaded not guilty to the charges.

Mr. Knox has been in jail since his arrest in Boston on Oct. 1, 2018, but had been seeking a release on bond until trial. He proposed living with a friend who resides in the Boston area. That friend had offered to serve as a third party custodian for Mr. Knox. The friend (who must be a very good friend) had also offered to put up $600,000 in equity in his home as collateral for an appearance bond.

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