Three former cannabis company executives are due in court today, facing charges related to unlicensed growing at a Pelham greenhouse.
The Ontario Securities Commission and RCMP announced charges against CannTrust's former chief executive Peter Aceto, former vice-chairman Mark Litwin, and former chairman Eric Paul last month.
The charges come years after Health Canada seized thousands of kilograms of cannabis from the Pelham greenhouse in 2019 after unlicensed growing rooms were discovered.
The trio face charges of fraud, making false or misleading statements, and authorizing, permitting, or acquiescing in the commission of an offence.
The former chairman and vice-chairman face additional insider trading charges.
Although some space at the greenhouse was licensed, investigators accuse the trio of failing to disclose to investors that about half of the growing space at the Pelham greenhouse was not approved by Health Canada.
If convicted of an Ontario Securities Act violation they could face up to five years in jail, issued a fine of up to $5 million, or both.