08:09:52 EDT Thu 13 Aug 2020
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SEC defendant Knox pleads guilty

2020-01-14 15:03 ET - Street Wire

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by Mike Caswell

Roger "Rocket" Knox, the U.K. man facing U.S. charges for at least four pump-and-dumps connected to Vancouver, has pleaded guilty. He entered the plea in an appearance before Boston Judge Nathaniel Gorton on Monday, Jan. 13. He remains in jail while he awaits sentencing.

Prosecutors claim that Mr. Knox, 49, was part of 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, he allowed insiders to secretly dump shares in the midst of touting campaigns, the government says. 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 awaits sentencing.

The charges to which Mr. Knox pleaded guilty are securities fraud and conspiracy to commit securities fraud. He faces a maximum of 20 years in jail, although his actual jail term will be considerably less. Many factors, such as the nature of his crime, his co-operation with prosecutors and his guilty plea will contribute to his sentence.

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