04:58:01 EST Sun 26 Jan 2020
Enter Symbol
or Name

Login ID:

Resource Group's Sahachaisere loses appeal

2019-12-13 20:19 ET - Street Wire

Also Street Wire (U-BKMP) Blackout Media Corp
Also Street Wire (U-IMWL) iMusic Worldwide Inc
Also Street Wire (U-MASP) Mass Petroleum Inc
Also Street Wire (U-TMHO) Talisman Holdings Inc

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

Songkram Roy Sahachaisere, one of those convicted in New York for a $120-million fraud masterminded by Toronto's Sandy Winick, has lost his appeal, despite problems with the case against him. (All figures are in U.S. dollars.) Three judges have agreed that the evidence against him included "troubling" testimony by an FBI agent. The judges have upheld his conviction nonetheless, finding that other evidence, which included incriminating recordings, was overwhelming.

The ruling comes almost two years after Mr. Sahachaisere received 27 months in jail for participating in a massive pump-and-dump scheme run by Mr. Winick. Prosecutors said that he was central player in the fraud, which victimized thousands of investors. Through an investor relations service that he ran, he transmitted false and misleading news releases about four companies. At the same time, he was selling shares through an entity that he controlled. A jury convicted him on Nov. 9, 2015, after a five-week trial.

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

© 2020 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.