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by Mike Caswell

David Skriloff, the former chief executive officer of TSX Venture Exchange listing Specialty Liquid Transportation Corp., has agreed to pay a $230,464 fine and to serve a permanent ban to settle charges from the U.S. Securities and Exchange Commission. (All figures are in U.S. dollars.) The SEC claimed that Mr. Skriloff was part of a 2017 scheme to unload $1.5-million worth of shares in a predecessor to Specialty Liquid. According to the SEC, Mr. Skriloff knowingly allowed an insider, former Toronto broker Morrie Tobin, to run a paid promotional campaign while carrying out a "massive dump of shares."

Mr. Skriloff's fine and ban are contained in a proposed judgment filed on Wednesday, Sept. 11, in federal court in Boston. The judgment permanently bars Mr. Skriloff from penny stocks and from serving as an officer or director. He must pay his $230,646 fine in five instalments over a one-year period. The penalties represent a negotiated settlement, in which Mr. Skriloff has not admitted any wrongdoing.

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