AFP raids Sydney EverBlu offices as part of ASIC investigation

Lucas Baird, Jonathan Shapiro and Jemima Whyte

Nov 16, 2021 – 6.56pm

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The Sydney offices of controversial penny stockbroker EverBlu Capital were one of several sites in Sydney and the Gold Coast raided by federal police as part of a sweeping corporate investigation that has also entangled heavily promoted cannabis stock Creso Pharma.

The Australian Securities and Investments Commission’s wide-ranging investigation may include examining trading and disclosure around Creso, which is chaired by EverBlu’s Adam Blumenthal. Another major Creso investor is flashy stock promoter Tyson Scholz, who is also said to be caught up in the investigation.

Lucas Baird is a journalist based in The Australian Financial Review's Sydney office.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.

Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years.