US SEC accuses cannabis company Cronos, former executive, of accounting fraud


October 24 (Reuters)The United States Securities and Exchange Commission has accused Canadian cannabis company Cronos Group Inc. CRON.TO and its former commercial director for accounting fraud, the regulator announced on Monday.

Cronos and former executive William Hilson offered to settle the matter, without admitting or denying the SEC’s findings, agreeing to cease and desist from future violations of the offending provisions, the SEC said. DRY.

The SEC said it decided not to issue a financial penalty to the company based on “its timely self-reporting, significant cooperation and corrective actions.”

(Reporting by Eric Beech in Washington and Ismail Shakil in Ottawa, Editing by Franklin Paul)

((ismail.shakil@tr.com;))

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