OSC says no reasonable prospect of conviction in CannTrust case

TORONTO –

The Ontario Securities Commission says it not has an inexpensive prospect of conviction in opposition to three former hashish firm leaders linked to securities offenses at CannTrust Holdings Inc.

The regulator had alleged the previous executives dedicated securities offenses by not disclosing to buyers that about 50 per cent of the rising house on the firm’s Pelham, Ont. facility was not licensed by Health Canada.

Former CannTrust chief government Peter Aceto, former chairman Eric Paul and former vice-chairman Mark Litwin pleaded not responsible earlier this 12 months to a number of offences associated to unlicensed rising on the facility in 2021.

They have been every charged with fraud and authorizing, allowing or acquiescing within the fee of an offence.

Litwin and Paul have been additionally going through insider buying and selling expenses, and Litwin and Aceto have been charged with making a false prospectus and false preliminary prospectus.

The firm fired Aceto in 2019, compelled Paul to resign and later, Litwin resigned.

This report by The Canadian Press was first revealed Dec.14, 2022