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by Mike Caswell

Shane Schmidt, a Vancouverite who pleaded guilty in the United States to charges arising from the promotion of a purported "wearable tech" company, has asked a judge to spare him jail. Prosecutors claim that Mr. Schmidt was part of a pump-and-dump that sent a stock to 60 cents from 10 cents, but Mr. Schmidt claims that he was a minor participant who only received $15,802 for his efforts. (All figures are in U.S. dollars.) He says that any prison sentence will cost him his job and his home.

The request from Mr. Schmidt comes as part of a case in which federal prosecutors in Boston cited him for the Sandy Steele Unlimited Inc. promotion. They claimed that he was part of a scheme that boosted the stock amidst claims about "revolutionary heated garments." His role included controlling Sandy Steele through an alias and helping others conceal their substantial positions in the stock, the government said. There was no trial for Mr. Schmidt, as he pleaded guilty to a charge of securities fraud.

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