The U. S. Securities and Exchange Commission has filed suit in California federal court accusing a group of companies of deceiving investors in their purported marijuana farm and CBD extraction facility as part of a $25 million offering fraud.
The SEC says in Tuesday’s complaint that between September 2017 and February 2019, six individuals in California and Arizona conducted a scheme through their businesses that included, among other things, misleading investors about their returns on investment, misappropriating more than $2. 7 million in investor money and deceiving investors about an alleged business loan. They had enticed more than 400 investors to ostensibly finance…
Published: July 29, 2020
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