11:47:47 EDT Fri 12 Jul 2024
Enter Symbol
or Name

Login ID:

SEC defendant Heatherington makes his sentencing pitch

2024-06-18 20:42 ET - Street Wire

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Colin Heatherington, the Vancouver Island man who pleaded guilty to U.S. fraud charges arising from the $200-million Absolute Capital Management Holdings Ltd. fraud, has asked a judge to spare him any significant jail term. (All figures are in U.S. dollars.) He says that he was lured into the scheme by "star fund manager" Florian Homm and that he has behaved himself in the 15 years that have passed since his crime. He also points out that others in the scheme have not spent a single day in prison.

The request from Mr. Heatherington, 49, comes as he awaits sentencing for a market manipulation that inflicted $200-million in losses on investors. Prosecutors claimed that Mr. Heatherington and others stuffed hedge funds with as much as $440-million worth of penny stocks that they had manipulated. Mr. Heatherington and his associates sold those same companies, using the proceeds to buy luxury cars, expensive homes and a yacht, prosecutors said. There was no trial for Mr. Heatherington, as he pleaded guilty to a charge of conspiracy to commit securities fraud.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

Them Nanaimo boys

Posted by Oh at 2024-06-19 09:35