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by Mike Caswell
The U.S. Securities and Exchange Commission has moved to freeze several bank and brokerage accounts belonging to Julius Csurgo, one of two Canadians facing charges for the pump-and-dump of Zenosense Inc., the developer of a supposed hand-held cardiac diagnostic device. The SEC claims that he paid for a three-month promotional campaign that boosted Zenosense to $3.50. (All figures are in U.S. dollars.) During that campaign, he and others unloaded $7.9-million worth of stock, the SEC says.
The proposed asset freeze is contained in a motion that the SEC filed on Monday, May 16, in federal court in New York. The SEC is seeking an order that would freeze the contents of accounts that Mr. Csurgo holds through a private entity that he controls called Antevorta Capital Partners Ltd. It would apply to accounts at Toronto-Dominion Bank as well as accounts in the Cayman Islands, Switzerland, Mauritius, Malta and Australia. It is not clear from the motion how much money the accounts contain.
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