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by Mike Caswell

Michael Wexler, an Ottawa man facing a permanent ban in the United States for pump-and-dumps run on the OTC Markets, says that he was duped by others into participating in the scheme. Mr. Wexler, 79, claims that he was unaware of the "dirty tricks" that his co-accused were "planning behind [his] back," and that he did not knowingly do anything illegal. He further says that he has already been subject to 4-1/2 years of "untold embarrassment and humiliation" from the charges against him being publicized.

The statements by Mr. Wexler come in response to a case the U.S. Securities and Exchange Commission is pursuing against him and others for the pump-and-dumps of VMS Rehab Systems Inc. and Argus Worldwide Corp., which occurred in 2016 and 2018. The SEC says that Mr. Wexler, who was the chief executive officer of the companies, issued news amidst paid promotional campaigns run by others. According to the SEC, the group boosted the companies with lines such as "Latest M&A move could send this stock soaring by over 200%!"

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