Ex-suburban cannabis executive and 3 friends face insider trading charges
A group of four men, including a former cannabis executive and three friends from the suburbs, are currently facing insider trading charges at the federal level. The charges stem from allegations that Anthony Marisco, a 39-year-old executive from Bartlett, used his position within the cannabis industry to engage in the buying and selling of shares from a competitor company that was in the process of being acquired.
According to court documents, Marisco allegedly disclosed confidential information regarding the potential acquisition to a member of a private country club, who then proceeded to share this valuable information with two other individuals. Specifically, Marisco is accused of informing Arthur Pizzello, 61, of Wayne, about the impending sale, who subsequently passed on this information to Robert Quattrocchi, 63, of Schaumburg, and Timothy Carey, 57, of Hanover Park.
Investigations revealed that all four men decided to capitalize on this inside information by purchasing shares of the company that was targeted for acquisition. As a result, all four individuals are now facing charges related to conspiracy to commit securities fraud. Additionally, Marisco is specifically charged with securities fraud for allegedly purchasing 900,000 shares at a discounted rate, ultimately leading to a profit of over $600,000. He then sold off all his stock before the public announcement was made that the sale had fallen through.
In other news, the Kane County Sheriff’s Office and local schools have committed to adhering to the guidelines set forth in the state’s TRUST Act when it comes to handling deportations within the community. This decision reflects a collaborative effort to ensure that deportations are carried out in a fair and just manner while prioritizing community safety and cohesion.
Moreover, the popular Maple Sugaring Days event is set to make a return, promising attendees a delightful experience complete with sweet treats, celebrations of anniversaries, and even an exclusive beer for visitors to enjoy. Meanwhile, Winterfest in Lake Geneva is gearing up to showcase dazzling snow sculptures and offer a wide range of family-friendly activities guaranteed to make for a memorable winter outing.
Lastly, Kaneland D-302 has made a commitment to restructuring its existing debt without imposing any additional tax burden on local residents. This decision underscores the district’s dedication to responsible financial management and ensuring the continued success and stability of its educational programs.
As for the upcoming legal proceedings, a trial date has been scheduled for the alleged kickback partner of a former circuit clerk, highlighting the ongoing efforts to uphold the principles of transparency and accountability within the judicial system.
