PanamaTimes

Thursday, Mar 28, 2024

Accused in stock fraud, U.S. officials want to know where's Fred Sharp?

Accused in stock fraud, U.S. officials want to know where's Fred Sharp?

U.S. authorities are applying for a default judgment against Panama Papers-linked businessman Fred Sharp, of West Vancouver.
Where is West Vancouver offshore shell facilitator and alleged stock fraud offender Fred Sharp?

That’s the question American authorities may be asking after several failed attempts to locate and physically serve him with charges of securities fraud and conspiracy to commit securities fraud for his part in an alleged, complex market manipulation scheme.

The United States Department of Justice has issued an arrest warrant for and frozen assets of Sharp. They are now proceeding with default judgments against him.

The U.S. Securities and Exchange Commission (SEC) and Federal Bureau of Investigation allege Sharp helped company insiders conceal and sell their shares using his “Sharp Group” network of overseas shell companies listed under nominee owners.

The commission first served Sharp, a former lawyer, by email on Aug. 10.

An individual identifying themselves as Teresa Sharp (the name of Sharp’s wife) responded, using the email address at which Sharp was served, and informed the commission the email address “is not Fred Sharp’s email,” according to court filings. A Teresa Sharp did not respond to the commission’s request for Sharp’s email address. The commission then sent the pleadings to Sharp’s home address by courier on Aug. 17.

Finally, without an acknowledgement from Sharp, authorities went knocking on his door.

The commission says it took steps to serve Sharp formally through the Hague Convention but he was still not served in person with the complaint, summons and temporary orders against him.

“Sharp was ‘not served’ because after ‘multiple attempts, lights on in residence, car in driveway, window open, no one came to the door,’” noted a deputy sheriff’s certificate filed in a Boston court.

The commission has now requested that a default judgment be entered by the court clerk.

The 69-year-old is known to reside in the West Vancouver neighbourhood of Caulfeild. If he is in Canada, he could face an extradition process, which can typically run for years.

Sharp was called to the B.C. bar in May 1981.

In 1995, his name first became publicly linked to improper activity, when he was suspended by the Law Society of B.C. for one year.

In 1997, Sharp relinquished his licence to practice law and went on to incorporate the Vancouver office of Panama investment firm Mossack Fonseca the following year. Although it dissolved in April 1999, Sharp carried on business under different corporate entities elsewhere.

In what may turn out to be an explicit case of life imitating art, Sharp wrote a fictional book in 2002 about securities fraud, SEC noted in its charges.

In May 2016, Sharp became more widely known across the country as the Canadian face of the Panama Papers — a massive leak of documents of Panamanian company Mossack Fonseca that revealed a vast network of offshore companies acting as tax havens for elites. He helped register 1,167 offshore entities from his Vancouver office, according to the documents.

Sharp is presently responding to Canada Revenue Agency investigations via court proceedings.

The case against him allegedly involves over $1 billion worth of gross, illegal sales of stock in hundreds of penny stock companies since 2011.

Other Vancouver-area associates and alleged co-conspirators of Sharp have since responded to authorities, including pot stock promoter Avtar Singh Dhillon, who has an extended filing deadline of Nov. 30 but has since posted a $1.5-million bond in California.

Defendants Paul Sexton of Anmore and Jackson Friesen of Delta, through their counsel, have moved to dismiss with prejudice the commission’s complaint claiming it is time-barred.

Meanwhile, Zhiying Yvonne (Chen) Gasarch of Richmond has struck a deal to have some of her husband’s bank accounts unfrozen, according to court filings.

U.S. Attorney James Drabick of the U.S. District Court for District of Massachusetts is handling the case and declined to comment.
Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×