Jonathan
Curshen, 47, the principal of Red Sea Management and Global Securities and
Honorary Consul to Costa Rica for St. Kitts & Nevis was sentenced to 20
years in prison for a $7 Million Stock Manipulation Fraud in Miami on Friday
last week.
Curshen
and his co-defendant, Las Vegas stock promoter Nathan Montgomery, were involved
in a scheme to illegally manipulate the stock price of CO2 Tech.
The
evidence further showed that, from approximately 2003 through 2008, Curshen
operated Red Sea as a money laundering hub in Costa Rica that established bank
accounts and brokerage accounts in the United States and Canada under false
pretenses and through nominee owners. The evidence further showed that Curshen
and his co-conspirators laundered the proceeds of the stock fraud from accounts
in the United States to an account in Canada, all in an effort to conceal and
disguise the nature and source of the proceeds.
Stock
promoters Barham and Weidenbaum were sentenced yesterday to 30 months and 26
months in prison, respectively. Michael Krome, a securities attorney from New
York, who participated in the conspiracy and evaded federal securities
registration requirements, was sentenced yesterday to 34 months in prison.
Reynolds is scheduled to be sentenced at a later date.
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