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

LA’s cannabis community steps up for wildfire relief

Follow our links to verified aid groups. The post LA’s cannabis community steps up for…

1 day ago

America’s Constitutional Conundrum: Guns and Ganja

As you might imagine, telling Americans they can't have their guns AND their ganja isn't…

1 day ago

Meet the new and improved home of the growers, ILGM

The new ILGM is a veritable treasure trove of expert knowledge that’ll help you find…

2 days ago

No Smoking, No Vaping – What’s the Safest Way to Consume Cannabis Based on Your Genetics and Science?

edibles, tinctures, beverages, and cannabis oil to name a few. Now, the results of a…

2 days ago

What is Psychoactive Listening? – The Study of Cannabis and Music

Ask any cannabis enthusiast about their relationship with music while high, and you'll likely get…

3 days ago