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by Mike Caswell
Bradley Moynes, a Vancouver man accused by the U.S. Securities and Exchange Commission of running a $6-million pump-and-dump on the OTC Markets, denies that he did anything wrong. (All figures are in U.S. dollars.) The SEC says that Mr. Moynes unloaded millions of shares in a cryptocurrency listing during a paid promotion that boosted the stock to 96 cents. He had held the stock through nominee accounts, according to the SEC.
The denials from Mr. Moynes are contained in an answer that he filed in federal court in Boston on Friday, Oct. 28. The document is 11 pages long, but it contains few details. In response to most of the SEC's allegations, Mr. Moynes flatly denies any wrongdoing. He does admit to many routine things, such as the fact that he is 51 years old and lives in British Columbia.
One of Mr. Moynes's more interesting admissions is that he was a client of West Vancouver's Frederick Sharp. The SEC separately charged Mr. Sharp, claiming that he ran a service that catered to those looking to run a stock market scheme. He and his group provided encrypted communications and a network of offshore companies that penny stock promoters used in multiple pump-and-dump schemes. His group facilitated the sale of about $1-billion worth of stock, according to the SEC. Mr. Sharp did not answer the case, and on May 12, 2022, the SEC won a permanent ban and a $52.9-million judgment.
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