Home Markets EverBlu Capital chairman Adam Blumenthal says he is taking AFP raid ‘extremely...

EverBlu Capital chairman Adam Blumenthal says he is taking AFP raid ‘extremely seriously’

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EverBlu and Mr Blumenthal have engaged law firm Quinn Emanuel to represent them during the investigation.

Mr Scholz wasn’t able to be reached for comment.

Creso Pharma, which is chaired by Mr Blumenthal and advised by EverBlu, told the exchange in response to a price query notice that it had “not been served with any notices from any regulatory body” after its shares crashed on news of the AFP raid.

Shares fell further on Wednesday, dropping more than 9 per cent.

Adam Blumenthal’s EverBlu Capital offices were raided this week by the Australian Federal Police.  Ben Rushton

AFP warrants aren’t usually required to give further detail than “an ASIC investigation”.

EverBlu Capital shot to prominence back in 2018, when it earned a reputation for the volume and pace at which it churned out low-revenue and pre-profit floats and back door listings.

It was at the forefront of marketing its issues to investors on stock chat forums and social media, and…

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