13:59:21 EDT Sat 24 Mar 2018
Enter Symbol
or Name

Login ID:
Forcefield Energy Inc
Symbol U : FNRG
Recent Sedar Documents

Forcefield defendant Petrossi convicted, again

2018-03-13 20:57 ET - Street Wire

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

A Pennsylvania jury has convicted Nevada's Louis Petrossi, 77, for fraud after he raised $1.8-million from investors and used most of the money for his own purposes. (All figures are in U.S. dollars.) Among other things, he purchased a BMW, paid for renovations on his house and paid his lawyer with investor money, prosecutors said. The jury convicted him on Thursday, March 8, after a four-day trial that began on Monday.

For Mr. Petrossi, the verdict comes on top of his conviction for participating in the Forcefield Energy Inc. fraud, a scheme run by Canadian Richard St. Julien. In that case, prosecutors said that Mr. St. Julien paid secret kickbacks to many people, including Mr. Petrossi, to pitch the stock. Most investors suffered catastrophic losses after the U.S. Securities and Exchange Commission halted Forcefield on April 21, 2015, citing a possible manipulation in progress.

Louis Petrossi
Louis Petrossi

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2018 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.