Brief: U.S. charges nine with fraud tied to ForceField Energy

ForceField Energy

03/05/2016 17:30

May 3 (Reuters) - ForceField Energy Inc  FNRG.PK : 
 * U.S. SEC sues 10 defendants in connection with three schemes to defraud 
   ForceField Energy Inc  FNRG.PK  investors--court filing 
 * SEC says the schemes were all orchestrated by former ForceField chairman 
   Richard St Julien, who is one of the 10 defendants 
 * SEC says the other defendants include brokers, investor relations workers 
 * SEC says the schemes involved kickbacks designed to drum up interest in 
   ForceField, boosting its stock price 
 * U.S. Department of Justice announces related indictment against nine people 
   in connection with ForceField 
 * The nine defendants charged by Justice Department were also charged by SEC; 
   st julien was charged in April 2015 
 * Justice Department accuses defendants of orchestrating $131 million market 
   manipulation scheme 
 * 9 defendants are charged with securities fraud, and with conspiracies to 
   commit securities fraud, wire fraud & money laundering