Siskind, who is battling separate civil charges of fraud in a corporate bankruptcy lawsuit, has the option to come to a financial settlement with the board, or go to a hearing where he can plead his case, a commission spokeswoman said.
If found in violation of state law, Siskind could face penalties including public censure, reprimand or a fine up to
In his complaint, Gibson claimed Siskind "knowingly and grossly misstated his financial assets" by claiming on a
Siskind, husband of Wellington Councilwoman
On the form, required for all candidates, he claimed assets of
But the trust actually has no value, the commission's advocate, an assistant state attorney general, said.
Siskind argued to the commission that he would have been in violation had he not attempted to place a value on the trust.
"Still, based on the incomplete information that the Commission had on hand, I guess they guessed that their guess might be better than what they interpreted might be my best guess as to my net worth," he wrote to
He said he sent the commission an updated financial disclosure form and has no intention of settling.
The trust was formed 11 days before Siskind filed his financial disclosure form, and Gibson in his complaint said the price tag on the trust is based on Siskind's valuation of his investment in
But records show that the
CannaMED appealed. The court dismissed the appeal in January and denied CannaMED's motion for reconsideration.
"Respondent is asking the public to believe that an entity to which he does not own the name nor has a license to do business could be sold for
Siskind said he missed the
While federal records show
It's unclear how or if the name change could affect the
Siskind in his response to the ethics commission said "the operating business" of CannaMED would be worth millions if the application is approved. He told
Siskind argued the investigation is "fatally deficient" because it does not disclose Siskind's basis for how he valued CannaMED, even though he says he provided that information to the investigator.
He wrote that the complaint also is deficient because there is no basis "whatsoever" for Gibson's valuation, which should be "deemed to be pure speculation."
Instead, Siskind wrote, had he failed to include his interest in the trust and a "reasonable valuation thereof," then he would have been in violation of financial disclosure rules.
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