US EditionEx-Mountie Sentenced for 'Reckless' Cannabis Business Securities Violations in B.C.
- A retired RCMP officer named Basi received a suspended sentence for his role in a cannabis company's investment scheme, described as 'reckless' by the court.
- Basi persuaded a neighbor and a friend to invest a total of $150,000, which they lost when the company failed.
- The court found that Basi did not file a required prospectus and assured investors their investment was safe while knowing about financial issues.
- The judge noted Basi's lack of malicious intent and his remorse, leading to no criminal record and a lesser sentence than a three-month prison term sought by the Crown.
18 Articles
18 Articles
The Toronto Star
NiagaraFallsReview.caEx-Mountie sentenced for ‘reckless’ cannabis business securities violations in B.C.
SURREY, B.C. - The British Columbia provincial court has handed a retired RCMP officer a suspended sentence, saying the man was "reckless" but not deceitful when he convinced a neighbour to invest in his failing cannabis company.
Winnipeg Free Press
Ex-Mountie sentenced for 'reckless' cannabis business securities violations in B.C.
Breaking News, Sports, Manitoba, Canada
B.C. provincial court gives former Mountie probation for Securities Act violations – Energeticcity.ca
SURREY, B.C. — The British Columbia provincial court has handed a retired RCMP officer a suspended sentence, saying the man was “reckless” but not deceitful when he convinced a neighbour to invest in his failing cannabis company. The court ruling says six years after Jasvindar Singh Basi retired from the RCMP he incorporated a cannabis company called GrowX Global Corp., and its business plan was “centred” on building a production facility in Mis…
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