Securities Fraud Saga Comes To Close As Former Cannabiz Mobile Consultant Receives Final Judgment
Anthony Jay Pignatello has been handed a final judgement by the US Attorney's Office in relation to a cannabis securities fraud scheme at Cannabiz Mobile, where he served as consultant and secretary. Pignatello was alleged to be part of a pump-and-dump scheme with Christopher Esposito, Cannabiz's former owner, whose fraudulent activities had already seen him sentenced to five years' probation in November. Pignatello has been permanently restricted from being an "officer or director of any issuer that has a class of securities registered under Section 12 of the Exchange", as well as permanently banned from participating in penny stocks. He is also obliged to pay $43,337, a fee that has already been deemed settled due to a parallel criminal hearing regarding securities fraud to which Pignatello had already pled guilty.
