FNRG News
Forcefield defendant Knippa looks to avoid jail
2017-08-01 11:10 ET - Street Wire
Also Street Wire (U-*SEC) U S Securities and Exchange Commission
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by Mike Caswell
Tres Knippa, a Texas man who pleaded guilty to charges stemming from the Forcefield Energy Inc. manipulation, has asked that the judge spare him jail. He claims that his role in the scheme was minor, amounting to failing to disclose his connections to the company. He also says that he believed Forcefield represented a genuine investment opportunity.
Prosecutors say that Mr. Knippa, 47, was part of a manipulation run by Canadian Richard St. Julien. A group of promoters and brokers, who were receiving secret kickbacks from Mr. St. Julien, boosted Forcefield to a $7.82 high, the government said. (All figures are in U.S. dollars.) Mr. Knippa's role included appearances on Business News Network and on the Fox Business channel to pitch the stock, the government claimed. Investors suffered catastrophic losses after the U.S. Securities and Exchange Commission halted Forcefield in 2015. (The stock was last at 0.02 cent.)
AI
