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SEC defendant Bortnovsky placed on GPS monitoring

2022-04-08 20:49 ET - Street Wire

Also Street Wire (C-APHA) Aphria Inc

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by Mike Caswell

A Boston judge has imposed a GPS monitoring condition on Kris Bortnovsky, one of those awaiting trial for a $4-million insider trading scheme that included Ontario's Aphria Inc., after prosecutors accused him of intimidating a witness. (All figures are in U.S. dollars.) Prosecutors said that he attended a synagogue where a government witness regularly prays. He made the visit while subject to a no-contact order with that witness.

The ruling comes as Mr. Bortnovsky awaits trial for an insider trading scheme with four companies. Most of the scheme centered on Aphria, with that portion of the trading generating $2.2-million in gains, the government said. According to prosecutors, Mr. Bortnovsky learned of a planned takeover for Aphria, and then bought out-of-the-money options before the deal became public. Authorities arrested Mr. Bortnovsky about five months ago, and he has since been free on a $500,000 appearance bond.

The witness intimidation that prosecutors complained of occurred on March 23, 2022, at a synagogue in Florida. It involved a witness that prosecutors only identified as "CW-1," although the description of that witness makes it clear that they are referring to a man named David Schottenstein. He previously pleaded guilty to related criminal charges, with prosecutors claiming that he was in close contact with an insider that provided the information the men traded on.

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meanwhile those canadian passport holders from russia tied in with abramovich and putin keep giggling

Posted by yawn at 2022-04-11 11:51

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