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by Mike Caswell

Adam Levin, the Los Angeles man who previously pleaded guilty to charges stemming from the promotion of Hightimes Holding Corp., has asked a U.S. federal judge to spare him jail. He says that he has already been sufficiently punished through a criminal conviction, felony record and the resulting damage to his reputation. He also asks that the judge consider his role as a caregiver to his ailing mother.

The request from Mr. Levin is part of a case in which the government says that he conspired to boost Hightimes Holding (the company that publishes High Times magazine) through a paid spot in a newsletter, without disclosing that he had paid for the coverage. The touting came as the company raised $20-million, with at least $6-million of that money directly associated with the touting. (All figures are in U.S. dollars.)

The proposed sentence for Mr. Levin comes with one of his associates, Ontario lawyer Sergio Damian Lopez, having agreed to pay $323,335 in fines and disgorgement for assisting the scheme. The U.S. Securities and Exchange Commission separately claimed that Mr. Lopez helped conceal the paid promotions of Hightimes and another stock. In addition to the monetary sanction, the SEC permanently banned Mr. Lopez from promoting stocks. The penalties represented a negotiated settlement, in which Mr. Lopez did not admit to any wrongdoing. The case against him was entirely civil, meaning he did not face the possibility of jail time.

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