Cirque Energy Inc. (fka CRQE)

[Renee]

Cirque Energy Inc., CRQE, previously known as Green Energy Renewable Solutions, Inc., EWRL:

Green Energy Renewable Solutions, Inc., EWRL:

Two Alleged Market Manipulators Sentenced in Parallel Criminal Case:

The criminal charges against each stem from the same misconduct alleged in the SEC's complaint filed on April 7, 2016, in the U.S. District Court for the District of Massachusetts. David Aubel, of North Carolina, and Robert Raffa, of New Hampshire, allegedly manipulated the stock of a company that purportedly developed waste processing and recycling facilities.

Raffa previously pled guilty to criminal charges and was sentenced on January 11, 2018 to two years in prison and two years of supervised release. Aubel pled guilty on November 28, 2017 to conspiracy, securities fraud, and wire fraud and was sentenced on January 30, 2019 to 87 months in prison and five years of supervised release and ordered to pay restitution of $242,553. The SEC's litigation against Aubel and Raffa is pending.

The SEC Complaint:

1. The Defendants engaged in a scheme to defraud involving the publicly traded stock of Green Energy Renewable Solutions, Inc. (“Green Energy” or “EWRL”) from at least April 2012 through at least January 2013 (the “relevant period”). The purpose of the scheme was to obtain illegal financial benefit for Aubel and Raffa at the expense of innocent investors by selling shares of Green Energy’s stock to those unsuspecting investors at artificially high prices. Aubel and Raffa took steps to secretly acquire a large quantity of Green Energy stock and to disguise their ownership interest in the stock. Aubel and Raffa then manipulated, and thereby artificially increased, the share price and trading volume of Green Energy’s stock, before selling millions of shares of the stock to investors unaware of the artificial increase in price for proceeds of more than $1.6 million. The defendants sold the stock into a segment of the public securities markets known as the Over-the-Counter securities market, or the “OTC Market.”

More.....

https://www.sec.gov/litigation/complaints/2016/comp23511.pdf