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by Mike Caswell

The U.S. Securities and Exchange Commission has asked a New York judge to impose a permanent ban and a $320,000 fine on James Panther, one of the defendants in a case arising from the $34-million Biozoom Inc. manipulation. (All figures are in U.S. dollars.) The SEC says that Mr. Panther was part of a scheme in which offshore sellers unloaded Biozoom shares during a $4-million paid promotion that sent the stock to over $4. Others in the scheme included former Vancouver lawyer Faiyaz Dean, who helped others hide their control over the company, according to the government.

The penalties for Mr. Panther are contained in a proposed judgment that the SEC filed on March 20, 2024, in federal court in New York. The SEC is asking that the judge permanently ban Mr. Panther from penny stocks and impose an injunction against any future violations. The SEC is also asking that Mr. Panther have 30 days to pay the $320,000 fine.

The ban and fine, should the judge hand them down, would constitute most of Mr. Panther's penalty for the scheme. He previously pleaded guilty to related criminal charges in Arizona, but avoided jail. The judge in that case sentenced him to five years of probation, with Mr. Panther receiving credit for his co-operation with authorities.

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