Former cannabis cultivator Kris Kallu from Richmond files second lawsuit against uncle Avtar Dhillon, a former prominent Vancouver stock promoter who now faces prison time for criminal securities fraud.
A former cannabis cultivator from Richmond is alleging a B.C. investment firm founded by his uncle was a “sham” to serve as a “conduit for undisclosed payments” for chosen shareholders — some of whom are implicated in an alleged US$1-billion stock fraud scheme.
Kallu says a special meeting for Emerald shareholders in 2022 was thought to be an opportunity for them to consider and vote on the wind-up of Therapeutics, which was controlled by Emerald. Instead, he alleges it was a “promotional showcase” for Skye and the decision had already been made by a majority.
Nephew cites uncle’s involvement in massive U.S. stock fraud case The lawsuit also names Fred Sharp, a West Vancouver resident and former lawyer turned offshore shell facilitator, as a co-defendant. Dhillon agreed to plead guilty to one count of wilful failure to disclose stock sales, one count of aiding and abetting the sale of unregistered securities and one count of conspiracy to not disclose touting compensation.
The defendants in the claim — Emerald, Skye, Avtar Dhillon, Punit Dhillon and Fred Sharp — have yet to respond. Kallu’s allegations against them have not been proven in court. And so, both Kallu brothers — despite otherwise being estranged, according to Kris Kallu — started the Therapeutics venture with Dhillon and the other founders around 2014 with research and development taking place at Kallu's parents' farm property at 7480 Sidaway Rd. in Richmond.Kallu subsequently alleged Dhillon, among others at the company, blocked him from proper share compensation. Kallu contests he was a founder of Emerald and is entitled to 1.
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