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

Cannabis Rescheduling Could Happen Today. Don’t Call It Legalization.

The Trump administration is preparing to move cannabis from Schedule I to Schedule III of…

24 hours ago

Are The Feds Finally Going To Let Medicare Cover CBD and Even THC?

Based on the ruling, products that are legal federally as well as at the state…

24 hours ago

Cannabis Through the Ages: What Humanity Knew for Millennia — and What Prohibition Made Us Forget

The drug’s history of healing and experimentation stretches from ancient China to American counterculture —…

2 days ago

High Times And Last Prisoner Project Launch Ongoing Partnership To Fight For Cannabis Prisoners

The new partnership will spotlight the stories of people still behind bars for cannabis, support…

2 days ago

Colombia to Cull Dozens of Hippos: From Pablo Escobar’s Pets to a Chronicle of a Death Foretold

Colombia is moving forward with a controversial plan to euthanize dozens of invasive hippos descended…

2 days ago

The Extinction of the Real: How Traditional Hashish Vanished While the Modern Market Looked Away

Imported hashish sustained mountain economies for centuries—until modern legalization and market economics erased it almost…

2 days ago