Three former executives of Canadian cannabis producer CannTrust, including its ex-CEO, have been acquitted of all charges after the case collapsed this week.
The charges came from a nearly two-year joint investigation by the Ontario Securities Commission (OSC) and Royal Canadian Mounted Police (RCMP) after a whistleblower alerted Canada’s cannabis regulator in 2019 about five “unlicensed” cultivation rooms the company had been operating since 2018.
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Peter Aceto, the company’s CEO at the time of the alleged incidents, had been charged with fraud and making false or misleading statements to the OSC and to the market, among other purported infractions.
Mark Litwin, formerly a director of the company, and Eric Paul, a former CannTrust chair, faced fraud and insider trading charges, among others.
The charges under the Securities Act (Ontario) had been described as “quasi-criminal” by the OSC.
The Financial Post newspaper reported that a key witness had
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