Former Verano Executive Charged with Securities Fraud for Alleged Insider Trading
A former govt vp of Chicago-based hashish firm Verano has been charged in federal court docket with insider buying and selling, the Justice Division introduced Tuesday. Anthony Marsico, 39, allegedly used personal details about Verano’s settlement to amass a rival hashish firm to purchase greater than 900,000 shares of the rival firm’s inventory and shared the data with a good friend, who in flip shared the data with two others.
Arthur Pizzello, 61, Robert Quattrocchi, 63, and Timothy Carey, 57, are additionally named within the indictmentdescribing the defendants as “social mates” who performed golf collectively at a non-public nation membership.
Marsico is accused within the indictment of illegally taking advantage of the scheme in extra of $607,000. Marsico is accused of tipping off Pizzello concerning the personal takeover deal, who in flip shared the data with Quattrocchi and Carey. The costs relate to a January 2022 deal between Verano and an unnamed firm, in response to the grievance.
The indictment was filed Thursday in U.S. District Court docket in Chicago and fees all 4 with conspiracy to commit securities fraud. Marsico can be charged with six particular person counts of securities fraud. No fees have but been scheduled in federal court docket in Chicago.
Obtain every day hashish enterprise information updates. Subscribe
Ganjapreneur is powered by our companions:
