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by Mike Caswell

Boston prosecutors have formally indicted West Vancouver's Frederick Sharp and others over an offshore operation that facilitated multiple pump-and-dump schemes on the U.S. markets. Prosecutors claim that Mr. Sharp provided insiders with a sophisticated system that allowed them to secretly sell shares. Using code names derived from James Bond movies and an encrypted messaging platform, he and his associates ran an eight-year fraud that generated tens of millions of dollars in illicit proceeds, prosecutors say.

The charges are set out in an indictment that prosecutors filed on Tuesday, Jan. 9, in federal court in Boston. The indictment identifies Mr. Sharp, who used the code name "Bond," as a B.C. resident and operator of an entity called Corporate House. Also a defendant is Luis Carrillo, a former securities lawyer who used code names such as "Fire," "Iceman," and "Mamba." According to the indictment, Mr. Carrillo used Mr. Sharp's platform to secretly sell millions of shares while he boosted the stocks through promotional campaigns and boiler rooms.

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