14:01:35 EDT Wed 21 Apr 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Intelligent Content defendant Jean wins COVID release

2021-04-06 20:20 ET - Street Wire

Also Street Wire (U-*SEC) U S Securities and Exchange Commission

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

McArthur Jean, one of those jailed in the United States for a boiler room that touted former Canadian Securities Exchange listing Intelligent Content Enterprises Inc., has won early release on COVID-19 grounds. Mr. Jean, 38, has convinced a judge that a skin condition constitutes an "extraordinary and compelling" reason to allow him out of prison. The judge made the ruling despite prosecutors pointing out that many fraudsters who are older and in worse health remain incarcerated.

The ruling, handed down on Tuesday, April 6, in New York, comes with Mr. Jean having served about half of his four-year sentence for a $147-million market manipulation scheme. (All figures are in U.S. dollars.) Prosecutors cited him and 14 others for the manipulation of five stocks, with Toronto's Intelligent Content Enterprises prominently among them. The group cold-called seniors and others, persuading them to buy millions of shares. Mr. Jean admitted to his part in the scheme, pleading guilty to a charge of conspiracy to commit securities fraud on Aug. 22, 2018. He had been scheduled for release from prison on April 1, 2023.

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

© 2021 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.