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by Mike Caswell

West Vancouver resident Gregg Mulholland has pleaded guilty to criminal fraud charges in New York stemming from the manipulations of at least 40 publicly traded companies. He has also admitted to laundering $250-million in proceeds from those manipulations. (All figures are in U.S. dollars.) In entering the plea, he has agreed to forfeit his West Vancouver home and other assets, including a business jet.

Mr. Mulholland entered the plea on the morning of Monday, May 9, before U.S. District Court Judge Leo Glasser. The charge he pleaded guilty to was one count of money laundering conspiracy, which carries a maximum jail term of 20 years. In entering the plea, Mr. Mulholland agreed to forfeit a number of assets, among them a Dassault-Breguet Falcon 50 aircraft. He also agreed to forfeit his B.C. properties (a $5-million (Canadian) West Vancouver home and a $2.5-million (Canadian) bare lot in Whistler).

ERICCHRISTIANSEN.COM

The Mulholland Residence

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