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by Mike Caswell

The U.S. Securities and Exchange Commission has won a permanent ban and $1.4-million in sanctions against Jeffrey Chartier, the California man who helped run a New York boiler room that defrauded seniors and others of $15-million. (All figures are in U.S. dollars.) The government claimed that Mr. Chartier, along with his co-accused, boosted a handful of thinly traded stocks as part of a "selfish and destructive plan to make himself rich." Much of the money brought in by the boiler came from the promotion of former Canadian Securities Exchange listing Intelligent Content Enterprises Inc. of Toronto.

The sanctions for Mr. Chartier, 61, are contained in a judgment entered on Aug. 26, 2025, in federal court in New York. The judge has permanently banned Mr. Chartier from penny stocks and from serving as an officer and director. In particular, Mr. Chartier is banned from "inducing or attempting to induce the purchase or sale of any penny stock." The $1.4-million that he must pay includes disgorgement of $1.02-million in gains, plus interest.

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