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by Mike Caswell

A federal judge in New York has imposed a jail term of 6-1/2 years on Igor Palatnik, one of those behind a scheme with Vancouver's Canafarma Hemp Products Corp. in 2019. Prosecutors claimed that Mr. Palatnik and an associate raised $14-million from investors while running Canafarma's hemp operation "just for show." The operation could supposedly produce $68-million in sales, but in reality Mr. Palatnik and others used the company as a vehicle to take investor money for themselves, the government said. (All figures are in U.S. dollars.)

Mr. Palatnik received his jail term in an appearance before Judge Loretta Preska on Thursday, Jan. 11. In addition to the 6-1/2 years in jail, the judge ordered him to serve three years of supervised release. During that period, Mr. Palatnik will be required to regularly report to a probation officer, allow a probation officer to visit his home and not communicate with anyone who he knows is engaged in criminal activity. The judge will also impose restitution, in an amount to be determined.

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