Former Director of Nasdaq Company Convicted of Securities Fraud
· DOJ
SAN DIEGO – Donald Danks of Irvine was convicted by a federal jury today of conspiracy to commit securities fraud, witness tampering, obstruction of justice, and perjury in connection with a multi-million-dollar scheme to defraud investors in a Nasdaq-listed company and his subsequent efforts to obstruct the investigation into his conduct.
After a two-week retrial, the jury found that Danks engaged in a six-year securities fraud scheme involving the stock of Loop Industries, Inc. Danks used his position as a company insider to obtain nonpublic information and influence investors while secretly selling Loop shares for his own benefit.