SEC Press Release: SEC Files Charges Against Scheme To Sell Fictitious Interests In Marijuana Company

SEC Press Release: SEC Files Charges Against Scheme To Sell Fictitious Interests In Marijuana Company

Here’s the full press release from the SEC Washington, D.C., Jan. 21, 2020 – The Securities and Exchange Commission today announced charges against Guy S. Griffithe and Robert W. Russell, and three companies they controlled, for an alleged scheme that defrauded investors who thought they were purchasing interests in a Washington-licensed recreational cannabis company out of approximately $4.85 million. The SEC’s complaint alleges that between August 2015 and December 2017, Griffithe, of California, used Renewable Technologies Solution, Inc., an entity he controlled, to sell investors purported ownership interests in SMRB LLC, a Washington company owned by Russell that held a…

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Source : CANNANNEW REPORT
Link to original : SEC Press Release: SEC Files Charges Against Scheme To Sell Fictitious Interests In Marijuana Company
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