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Forcefield defendant Knippa receives 15 months

2017-08-10 15:13 ET - Street Wire

Also Street Wire (U-*SEC) U S Securities and Exchange Commission

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by Mike Caswell

Tres Knippa, the former TV commentator who pleaded guilty to charges stemming from the Forcefield Energy Inc. manipulation, has received 15 months in jail. He received the term in an appearance on Wednesday, Aug. 9, before New York Judge Brian Cogan. In addition to the jail term, Mr. Knippa must serve three years of supervised release and must pay $3.57-million in restitution. (All figures are in U.S. dollars.)

The sentence comes after prosecutors claimed that Mr. Knippa helped Forcefield's Canadian chairman, Richard St. Julien, boost the stock to a $7.82 high in 2015. The government said that Mr. St. Julien paid secret kickbacks to Mr. Knippa and others, including several brokers, as the stock's market capitalization went to $131-million. Investors suffered massive losses after the U.S. Securities and Exchange Commission halted Forcefield on April 21, 2015, citing a possible manipulation in progress.

Tres Knippa
Tres Knippa

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