10:46:20 EDT Tue 22 Sep 2020
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CO2 Tech's Curshen loses COVID-19 release request

2020-08-04 16:46 ET - Street Wire

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by Mike Caswell

Vancouver-linked fraudster Jonathan Curshen, who is serving 20 years in a U.S. jail for a 2007 market manipulation scheme, has lost his request for release on COVID-19 grounds. A federal judge in Florida has determined that his medical conditions, which include obesity and hypertension, do not represent a sufficient threat to his health. Moreover, the jail where he is housed has no reported COVID-19 cases.

The order comes with Mr. Curshen, 55, having served almost half of his 20-year sentence, which stemmed from the manipulation of a company called CO2 Tech Ltd. Prosecutors said that he entered several wash trades using a maze of offshore brokerage accounts while the company made bogus claims about a relationship with Boeing. He and others, including former Pacific International Securities Inc. broker David Ricci, boosted the stock to $1.65 from 91 cents. (All figures are in U.S. dollars.) The proceeds of that manipulation and others went through an account at HSBC Bank in Vancouver, the government said.

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