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 San Diego judge has imposed a 17-month jail term on Oliver Lindsay, a Vancouver man charged for a 2018 pump-and-dump on the OTC Markets. Prosecutors said that Mr. Lindsay was part of a scheme to boost Kelvin Medical Inc., a supposed medical device maker, with manipulative trades, misleading tout sheets and a phone room. The scheme generated $1.4-million in gains. (All figures are in U.S. dollars.)

Mr. Lindsay received his sentence in an appearance before Judge William Hayes on Thursday, May 13. In addition to the 17 months in prison, the judge imposed three years of supervised release and ordered restitution of $187,893. The judge gave Mr. Lindsay until July 1, 2022, to surrender to authorities.

The 17-month jail term is a loss for Mr. Lindsay, who had asked that the judge spare him prison altogether. He pointed out that he had already spent two months in jail while awaiting his release on bond. He then lived in the basement of a friend's home in Utah for 13 months before the judge allowed him to return to Vancouver.

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