10:29:54 EST Sat 16 Feb 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
CMKM Diamonds Inc
Symbol U : CMKX
Shares Issued 703,518,875,000
Recent Sedar Documents

CMKM defendant Dvorak to avoid jail, conviction

2019-02-08 19:24 ET - Street Wire

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

Former Nevada lawyer Brian Dvorak, the last active defendant in the CMKM Diamonds Inc. case, has reached a deal in which he will not go to jail or even have a conviction registered against him. Mr. Dvorak, who helped issue most of the shares used in the massive fraud, has agreed to enter something called the pretrial diversion program. Assuming he completes the program, prosecutors in Nevada will drop the charges against him. In return, Mr. Dvorak will only have to surrender his law licence.

The charges against Mr. Dvorak stemmed from his participation in a massive fraud run by Saskatchewan's Urban Casavant. From 2002 to 2004, Mr. Casavant and others touted the "Casavant diamond brand" and a $50-million jade collection as they sold billions of unregistered CMKM shares, prosecutors claim. (All figures are in U.S. dollars.) In all, they reaped $60-million in profits, according to the government.

Mr. Dvorak is the last remaining active defendant, the others having all pleaded guilty or died in the 15 years since the scheme ended. He is also the only defendant to end the case through what is known as a pretrial diversion agreement. The agreement, filed in court on Feb. 6, 2019, specifies that Mr. Dvorak must spend up to 18 months under supervision in the pretrial diversion program. During that period, he must not violate any laws and must attend school or hold a job. He also must remain in Colorado, where he now resides, although he may seek permission to move. He must also surrender his law licence. (The agreement does not specify if he may apply for reinstatement when the 18 months ends, but he no longer appears to be practising law.)

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

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.