This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

U.S. federal prosecutors have requested 7-1/2 years in prison for Andrew Coldicutt, the former Vancouverite convicted for a $5.95-million fraud set up by FBI undercover agents. (All figures are in U.S. dollars.) Prosecutors say that Mr. Coldicutt abused his law licence, guiding his clients "to create a company out of thin air" to be used as a vehicle to commit fraud. The deal was one of many in which Mr. Coldicutt lied and concealed information to enrich himself, the government says.

The request from prosecutors comes as part of a case in which prosecutors cited Mr. Coldicutt, 45, for his part in a 2017 pump-and-dump scheme arranged through his San Diego law practice. The government claimed that he helped set up a sham company with a puppet officer for an undercover FBI agent, who was posing as a hedge fund manager. After a five-day trial, a California jury convicted Mr. Coldicutt on charges that included securities fraud and wire fraud.

The proposed jail term for Mr. Coldicutt is contained in a memorandum filed on July 4, 2025. In seeking 7-1/2 years, prosecutors say that Mr. Coldicutt had been a long-time person of interest to investigators. He was the subject of 31 referrals from FINRA (the Financial Industry Regulatory Authority), which is an "exceptionally large number," the memorandum states. He often registered companies that were suspected of fraud, but he was difficult to investigate because of attorney-client privilege, prosecutors say.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS