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by Mike Caswell

Todd Ficeto, a former brokerage owner who faces up to eight years in a U.S. prison for his part in the Absolute Capital Management Holdings Ltd. fraud, has asked the judge to spare him jail. He says that he has suffered plenty already, losing his brokerage business and his marriage while living under the cloud of legal proceedings for 12 years. He also points out that he is the only one who has answered for the scheme, with his co-accused, including Vancouver Island's Colin Heatherington, having so far avoided prosecution.

The request from Mr. Ficeto, 53, comes as part of a case in which the U.S. Department of Justice claimed that he and others were behind an international scheme that inflicted $200-million in losses on investors. (All figures are in U.S. dollars.) The men used hedge funds to manipulate several OTC Bulletin Board and pink sheets listings as part of a portfolio-pumping operation, according to the government. A jury convicted Mr. Ficeto on July 12, 2019.

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