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by Mike Caswell

The U.S. Securities and Exchange Commission has obtained a $64,411 judgment against Henry Clarke, one of those charged alongside Canadians Julius Csurgo and Dean Shah for a $13.4-million pump-and-dump on the OTC Markets. (All figures are in U.S. dollars.) A New York judge has determined that Mr. Clarke's "intentional and fraudulent" conduct helped others generate millions of dollars in proceeds. Were it not for his co-operation with authorities and his relatively small gains from the scheme, he would have faced a larger fine, the judge has found.

The sanctions for Mr. Clarke, 52, are contained in a judgment handed down in federal court in New York on Wednesday, Dec. 28. The $64,411 comprises disgorgement of gains, plus interest, and a $10,000 fine. The penalties are part of a settlement that Mr. Clarke previously entered, in which he did not admit any wrongdoing. He accepted a permanent penny stock ban, and agreed to pay penalties in amounts that the judge has now determined.

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