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SEC defendant Knox freed from jail, reasons unclear

2020-04-03 18:05 ET - Street Wire

Also Street Wire (U-EPTI) Environmental Packaging Technologies Inc
Also Street Wire (C-SLT) Specialty Liquid Transportation Corp

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by Mike Caswell

Roger "Rocket" Knox, the U.K. man who pleaded guilty to criminal charges in the United States stemming from at least four pump-and-dumps connected to Vancouver, has secured his release from jail. A judge in Boston approved his discharge on Thursday, April 2, allowing him to live under house arrest until his sentencing. The reasons for the release are not at all clear, as both prosecutors and Mr. Knox's lawyer asked that the underlying motion be sealed.

The charges against Mr. Knox, 49, stemmed from a $164-million fraud that involved the sale of millions of shares in 50 public companies. (All figures are in U.S. dollars.) Through the use of nominees and omnibus accounts, Mr. Knox allowed insiders to secretly dump shares in the midst of touting campaigns, the government said. He and his firm, Wintercap SA, realized millions of dollars in gains from the scheme, according to prosecutors. His co-defendants include former Toronto broker Morrie Tobin, who previously pleaded guilty and is free while he awaits sentencing.

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