U.S. officials alleged Jonathan Mikula illegally promoted U.S.-listed public company Emerald Health Pharmaceuticals, which has significant ties to British Columbia.
The stock promoter utilized by B.C. businessman and securities fraud convict Avtar Dhillon has entered two guilty pleas over his role in illegally raising tens of millions of dollars’ worth of securities ultimately controlled by a Vancouver-based investment firm.
Vancouver-based Emerald Health Sciences was the investment firm Dhillon founded and directed and that owned a majority interest in EHP. The indictment explained, between March 2019 to March 2021, EHP raised approximately US$60 million in gross investment proceeds through the sale of 10.4 million shares; approximately $32.5 million of the funds raised resulted from Palm Beach Venture’s promotion of EHP.
In December 2022, Dhillon pleaded guilty to three criminal counts for his role in the pump-and-dump scheme. Following delays, Dhillon faces prison time and is scheduled to be sentenced May 23.
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