More news now from a story myFM ran for you last year about some insider trading involving a local company. Former Weed MD production worker Taylor Carr who participated in insider trading of Weed MD’s stock was ordered this week to pay $20,000, after admitting he tipped off mutual fund dealer Trevor Rosborough back in November of 2017 that Weed MD was set to buy a Strathroy greenhouse, before the actual news became public. According to the Ontario Securities Commission (OSC) Rosborough communicated that information to associate Dmitri Graham and advised two clients to buy shares, which he also bought. The shares increased by 33% the next day after the plan to expand news came out, when the three men sold their shares for a profit, alleged by the Commission. This week, a ruling by the Commission, in addition to monetary penalties, Carr and Graham were banned for 3-5 years from trading securities or acting as the director or officer for a company. Under an agreement made last year, Rosborough was fined monetarily and also handed an eight-year ban on trading securities or being the director or officer of a company. As myFm reported to you late last year, WeedMD, now known as Entourage Health, announced it will be closing their Strathroy location over the next 5 months, eliminating about 90 jobs.
(photo-LFP)
written by: R. Ross