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by Mike Caswell
James Panther Jr., one of those charged for the $34-million Biozoom Inc. pump-and-dump, has avoided jail, receiving five years of probation. (All figures are in U.S. dollars.) Prosecutors claimed that he was part of a scheme in which offshore sellers unloaded Biozoom during a $4-million paid promotion that sent the stock to $4. His co-defendants include former Vancouver lawyer Faiyaz Dean, who helped others hide their control over the company, according to prosecutors.
The probationary term for Mr. Panther, a California resident, is contained in a judgment handed down on Wednesday, May 31, in federal court in Arizona. During his probation, he must not commit any crimes, must not possess illegal drugs (including marijuana), must live in a home approved by his probation officer, must obtain full-time employment and must not own any firearms. He is also prohibited from entering into any financial transaction worth more than $500 without approval.
The probationary term appears to be a victory for Mr. Panther, who had faced a maximum sentence of 25 years after pleading guilty. Prosecutors did not publicly file their position on Mr. Panther's sentencing, although they did previously recommend that he receive some credit for co-operating with the government. (If a defendant's assistance extends to investigations that are still active, the details of that co-operation often remain sealed.) The judge did not release any reasons for the probationary term.
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then government of newfies though are sure some pieces of work. big scam ongoing in pubco and they all keeping their mouths shut and letting it happen, absolutely ridiculous, those newfie scumbags.