Categories: aggregated

What Happened to the $650 Million Dollar Cannabis Ponzi Scheme – And How to Spot One

Sixty-year-old Robert Russell from Duvall was charged by the US Securities and Exchange commission with violations of federal securities law, reports the Seattle Times. There was also an SEC complained, filed January 21, in a California federal court which states that investors were attracted to the offer because of Russell’s generous profits from his cannabis farm. Green Acre Pharms. Russell worked with a co-conspirator, Guy Scott Griffithe of California, who exhausted $3.5 million of the investors’ cash on “extravagant luxuries, inappropriate personal expenditures, and unrelated business ventures,” says the SEC complaint. Among these were a yacht and luxury vehicles.

Jason

Share
Published by
Jason

Recent Posts

More Cannabis Purchases or Larger Sized Weed Orders, Which is Better in the Marijuana Industry?

Quantity vs. Frequency - One of the most significant distinctions between medical and recreational cannabis…

3 days ago

Grand Openings: New weed shops of America for November 2024

At least 10 states and Amsterdam have new stores for you. The post Grand Openings:…

4 days ago

Women Aged 19 to 30 Now Smoke More Weed Than Their Male Counterparts in Sesmic Consumer Shift

According to fresh data from the US National Institute on Drug Abuse, young women have…

4 days ago

True or False – Dispensaries Share Your Purchase and Medical Information with the State Government?

Many states have enacted strict privacy laws that prevent dispensaries from sharing customer data without…

4 days ago