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by Mike Caswell

U.S. federal prosecutors and the U.S. Securities and Exchange Commission have filed charges against a group of Chicago-area men who traded ahead of a $413-million takeover offer for Canadian Securities Exchange listing Goodness Growth Holdings Inc. in 2022. (All figures are in U.S. dollars.) The SEC claims that one of the men learned of the takeover through his job at the suitor, Verano Holdings Corp., and shared the information with the others. The men were all members of the same country club and regularly golfed, gambled and socialized, the SEC says.

The allegations are contained in a complaint that the SEC filed on Jan. 16, 2025, in federal court in Illinois. The defendants include Anthony Marsico, 39, a resident of Barlett, Ill., who served as an executive vice-president of Verano and worked at the company until he was fired on Jan. 22, 2024. Also named are three of his friends: Arthur Pizzello, 61, of Wayne, Ill.; Robert Quattrocchi, 63, of Schaumburg, Ill.; and Timothy Carey, 57, of Hanover Park, Ill.

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