This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Jonathan Mikula and Christian Fernandez, two men accused of running a scheme to promote a Vancouver company as "Curing Incurable Diseases and Giving Us Over 4,900% Potential Gains," have pleaded guilty to criminal charges in California. The government claims that the men were part of the promotion of Emerald Health Pharmaceuticals Inc., a company associated with Vancouver's Avtar Dhillon. The group accepted $4.2-million in undisclosed payments from insiders to boost Emerald Health and other companies. (All figures are in U.S. dollars.)

Mr. Mikula and Mr. Fernandez entered the guilty pleas in appearances on March 12 and March 26, 2024. The charge to which the men pleaded guilty is conspiracy to tout securities for undisclosed compensation, which carries a maximum sentence of five years. The men, who both reside in Georgia, remain free on a prior bond order.

The guilty pleas come over two months after the government charged the men, filing a criminal information sheet on Jan. 30, 2024, in federal court in the Central District of California. Prosecutors identified Mr. Mikula as an analyst working for a publication called Palm Beach Venture and Mr. Fernandez as a Mexican citizen living in Georgia. Also named as a defendant was Raj Beri, a resident of West Hollywood, Calif., who pleaded guilty on Feb. 27, 2024. Mr. Dhillon is not a defendant, but he and the others face related civil charges from the U.S. Securities and Exchange Commission, and Mr. Dhillon is a defendant in a separate criminal case brought in Boston.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS