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by Mike Caswell

Julius Csurgo, a Toronto man awaiting sentencing in the United States for his part in a $35-million pump-and-dump scheme, has asked that the judge not impose any new jail time. (All figures are in U.S. dollars.) Mr. Csurgo, who has been in custody for nearly two years since his arrest, says that he has already suffered the "complete destruction of his professional reputation and personal relationships" as a result of the charges. He also says that he is elderly and in poor health after spending much of his life as a functioning alcoholic.

The request from Mr. Csurgo comes as part of a case in which New York prosecutors cited him for a fraud involving associates working in Europe, the Bahamas and Canada. The men ran a scheme involving the paid promotions of multiple stocks that they secretly controlled, prosecutors said. Mr. Csurgo's role included paying for the promotional campaigns and unloading millions of dollars worth of shares.

With his sentencing date approaching, Mr. Csurgo has set out what he sees as an appropriate sentence. In a memorandum filed on Aug. 21, 2026, he says that the time he has already spent in custody is sufficient punishment for his crime. He was initially arrested in Canada in October, 2024, and has been imprisoned since. By the time he is sentenced, he will have spent nearly two years in jail, he calculates.

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