What Chaaban also unintentionally did was cop to fraud.
Within the opening paragraph of his letter to shareholders, Bill makes the statement, As you may know, back on February 13, 2015, Health Canada issued the Company a "Letter of Intent to Deny" CEN Biotech's application, which letter was not received by CEN Biotech until February 18, 2015.
This is a far cry from what Bill actually said happened at the time.
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The February 19th sugarcoat was an outright lie, just another in a stack of them by FITX and Chaaban, and now Bill has accidentally acknowledged that fact.
This is securities fraud, fraud, and concealment of a material fact, all enough to get Chaaban charged by the SEC and certainly enough to subject him and FITX to a spate of lawsuits.