Vancouver Sun -In a complaint filed last week in U.S. District Court in California, the SEC alleged that, from September 2005 to September 2007, Colin Heatherington and two associates acquired shares of a handful of junior companies, manipulated their share prices upward, then caused a hedge fund company to buy those shares at artificially inflated prices.
When the scheme collapsed in September 2007, the hedge funds, managed by London-based Absolute Capital Management Holdings Ltd., were left holding $440 million to $530 million in essentially worthless stock.
