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by Mike Caswell

The U.S. Securities and Exchange Commission has filed civil fraud charges against a group of Canadians for the illegal sale of shares in a purported face mask maker and other stocks. According to the SEC, the group used false paperwork to obtain large blocks of tradable shares. They then dumped the stock in the midst of paid promotions, the SEC claims. In all, the scheme generated $25-million, according to the regulator. (All figures are in U.S. dollars.)

The allegations are contained in a civil complaint that the SEC released on Thursday, June 11. The regulator lists five individual defendants, all Canadian. They are: Nelson Gomes, 38, who lives in the Bahamas and Hong Kong; Michael Luckhoo, 31, a resident of Mississauga, Ont.; Shane Schmidt, 52, of Vancouver; Doug Roe, 47, also of Vancouver; and Kelly Warawa, 36, of Vancouver as well. The defendants each face the SEC's civil charges, with the exception of Mr. Schmidt, who also faces related criminal charges in Boston.

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