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by Mike Caswell

A federal judge in Boston has reduced the jail term of Roger "Rocket" Knox, the U.K. man who helped multiple pump-and-dumps through his Swiss operation, including at least four linked to Vancouver. The judge has cut Mr. Knox's sentence to two years instead of the three that he was previously to serve. The judge did not set out his reasons, but Mr. Knox is not yet in prison and has been helping authorities with other cases.

The reduced sentence, contained in a judgment handed down on Oct. 9, 2024, comes as part of a case in which prosecutors said that Mr. Knox ran a "staggering securities fraud scheme" that generated $150-million in illegal gains, defrauding 20,000 victims. (All figures are in U.S. dollars.) Over a six-year period, he allowed hidden insiders to repeatedly unload shares on the U.S. markets, the government said. Prosecutors referred to his scheme as a "massive global securities fraud" that involved nominee entities, encrypted communications networks, code names and fake documentation.

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