WASHINGTON (Sputnik) — According to the case, Knippa and others engaged in a six-year scheme to defraud ForceField investors by controlling the price of the stock’s shares with secret trades and sales.
"Knippa had previously pled guilty to securities fraud conspiracy for his role in the fraudulent market manipulation of ForceField Energy Inc. (ForceField), a publicly traded company previously listed on the NASDAQ under the ticker symbol ‘FNRG’," the release stated.
Knippa lied about owning the stock and did not reveal in those appearances that he was being paid for promoting it, the release said.
In addition to more than a year in prison, Knippa was sentenced to three years of supervised release and ordered to pay $3,570,000 and forfeit $120,000 in assets.
