On April 21, 2017 the SEC suspended trading in Force Energy (FNRG), an LED lighting company. This alleged stock fraud cost investors $131 million. Listed stocks often get halted, delisted, and then suspended, but ForceField was suspended prior to the stock being delisted.
In April of 2015, Tampa-based ForceField's CEO, Richard St. Julien, a Canadian citizen, was arrested on charges that he schemed to inflate the stock price of ForceField Energy Inc. (FNRG), once called SunSi Energies Inc.
Authorities said the defendants allegedly manipulated ForceField’s stock from 2009 to April 2015 by secretly trading it in undisclosed accounts, inflating trading volume, and concealing their kickbacks. Allegedly, ForceField’s management paid a stock promoter to increace the company’s stock price. These executives did not disclose to their investors that the company was paying for the so called ‘independent’ reports. It is also alleged that some of these executives had problems in the past with similar fraudulent companies.
At least seven defendants have entered guilty pleas, court records show.
If you were a victim of the fraudulent manipulation of ForceField Energy Inc. (FNRG) stock and you experienced financial losses due to the recommendations of Newbridge Securities or other broker/dealers, call Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of you investments at: 888-760-6552.
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