(Toronto) – An Ontario court has acquitted three former executives of cannabis company CannTrust of charges related to unlicensed cultivation at one of its facilities in the Niagara region.
Former CannTrust Holdings executives Peter Aceto, Eric Paul and Mark Litwin were acquitted of the charges a day after the Ontario Securities Commission (OSC) announced it no longer had a reasonable prospect of convicting the three men .
The OSC on Wednesday asked the court at Toronto’s Old City Hall to adjourn the case until Thursday so it can review the case law. Mr Litwin’s lawyer has indicated that he would support the resolution of the case.
His client, MM. Aceto and Paul were both charged with fraud and authorizing a crime.
MM. Litwin and Paul were also charged with insider trading, and gentlemen. Litwin and Aceto for preparing a false prospectus and false preliminary prospectus.
The men pleaded not guilty in October, years after their former employer’s cannabis cultivation was investigated by Health Canada in 2018 and 2019.
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