Vancouver pot promoter charged in SEC securities fraud probe

Supported By:

Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

Aug. 9, 2021 – A Vancouver-based marijuana stock promoter has been charged with securities fraud, conspiracy and obstruction by the United States Department of Justice in Boston, following an investigation of two of his companies.

Avtar Dhillon previously established and operated marijuana-growing facilities in Richmond and Delta with Emerald Health Therapeutics Inc., whose board he chairs.

However, while he was establishing greenhouses in Canada, between 2017 and 2020, the U.S. Securities and Exchange Commission was investigating Dhillon for alleged fraudulent transactions.

Last Wednesday, Dhillon was arrested while residing in Long Beach, California, according to the U.S. Attorney’s Office (USAO) of the District of Massachusetts. He is presumed innocent until a court rules on the allegations.

Dhillon “allegedly concealed his ownership of millions of shares in two companies for which he served as the chairman of the board of directors and then secretly directed the shares’ sale, generating approximately $2.19 million in proceeds,” according to the USAO. Business in Vancouver reports. | READ MORE