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ForceField Energy Inc (FNRG.PK)

FNRG.PK on OTC Markets Group - US Other OTC and Grey Market

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Latest Key Developments (Source: Significant Developments)

ForceField Energy Inc - U.S. charges nine with $131 mln ForceField Energy fraud - Reuters News
Tuesday, 3 May 2016 11:59pm EDT 

ForceField Energy Inc:U.S. prosecutors on Tuesday charged nine people with defrauding investors into buying the now essentially worthless stock of LED lighting provider ForceField Energy Inc, causing $131 million of losses - RTRS.The charges against the defendants, who include stock promoters, brokers and investor relations officials, were announced by U.S. Attorney Robert Capers in Brooklyn.They follow the April 2015 arrest of Richard St. Julien, a Canadian citizen who was ForceField's executive chairman, on charges he orchestrated schemes to inflate the stock price of his company, which was once called SunSi Energies Inc.The U.S. Securities and Exchange Commission on Tuesday announced related civil charges against all 10 defendants, including St. Julien.Authorities said the defendants manipulated ForceField's stock from December 2009 to April 2015 by secretly trading it in undisclosed accounts, inflating trading volume to create a false sense of demand, and concealing kickbacks to stock promoters and brokers to tout it.ForceField shares last traded on Thursday, at 2 cents.Among the other new defendants are Jared Mitchell, 34, of New York, the managing partner of Mitchell & Sullivan Capital LLC; and Christopher Castaldo, 44, of Glen Head, New York, the president of Wall Street Buy Sell Hold Inc.Their lawyers and a lawyer for Knippa were not immediately available for comment.A lawyer for St. Julien, 46, did not immediately respond to requests for comment.  Full Article

Trader who touted ForceField stock on Fox Business gets 15 months

A Dallas-based trader was sentenced to 15 months in prison on Wednesday after pleading guilty to taking part in a scheme to pump up the stock price of LED lighting company ForceField Energy Inc, which U.S. prosecutors have said caused investor losses of $131 million.