01:44:26 EST Sun 03 Dec 2023
Enter Symbol
or Name

Login ID:

SEC defendant Babini extradited to U.S.

2023-07-10 20:37 ET - Street Wire

Also Street Wire (U-EDVP) Endeavor Power Corp

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

Prosecutors in Boston have extradited Vancouver's Marco Babini, who was wanted in the United States for the manipulation of a supposed biotech listing. The government claimed that Mr. Babini and others planned a scheme that included kickbacks, paid tout sheets and manipulative trading. Mr. Babini is the final defendant in the case, with his co-accused having received five months of house arrest after pleading guilty.

Mr. Babini made his first appearance in a U.S. court on Monday, July 10, during a hearing in Boston. The appearance was a brief one, with prosecutors requesting that Mr. Babini be held in prison. For his part, Mr. Babini requested a detention hearing (meaning that he intends to seek release on bond). The judge ordered Mr. Babini held in custody, and directed that a detention hearing be scheduled, at which time Mr. Babini may argue for his release.

Monday's appearance comes nearly eight years after prosecutors first charged Mr. Babini, with the delay arising largely from efforts to extradite him from Canada. The details of his extradition battle are not publicly available, as a judge in the Supreme Court of British Columbia imposed a publication ban in the case. What is known is that the matter took years to resolve. The judge ordered Mr. Babini's extradition in 2021, but a subsequent appeal delayed the case yet again. That delay only ended after Mr. Babini abandoned the appeal on May 19, 2023, clearing the way for federal officials to send him to the U.S.

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

© 2023 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.