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by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil fraud charges against James Anglim, a brokerage employee from New Jersey accused of helping with the manipulations of Vancouver's Digatrade Financial Corp. and four other stocks. The SEC claims that Mr. Anglim helped hidden insiders unload millions of illegally issued shares on the markets over an eight-year period. The sales resulted in proceeds of $26.6-million, according to the SEC. (All figures are in U.S. dollars.)
The allegations are contained in a civil complaint that the SEC filed on Monday, July 17, in federal court in Boston. The sole defendant is Mr. Anglim, 50, who has been a brokerage industry employee since 1998. During the scheme, he worked at firms that were registered as market-makers.
The complaint cites Mr. Anglim for helping with the illegal sale of shares in five companies, with a portion of the scheme from 2016 and 2017 including Digatrade Financial. The SEC previously charged a Vancouver man, Bradley Moynes, claiming that he ran a $6-million pump-and-dump on the OTC Markets with Digatrade. The SEC said that Mr. Moynes unloaded millions of shares amidst manipulative trades and a paid promotion. (Mr. Moynes settled that case out of court, agreeing to pay $1.5-million, without admitting any wrongdoing.)
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