Home News What Happened to the $650 million dollar Cannabis Ponzi Scheme – And How to Spot One

What Happened to the $650 million dollar Cannabis Ponzi Scheme – And How to Spot One

by Team Marijuana News

Sixty-year-old Robert Russell from Duvall was arrested by the US Securities and Exchange commission with violating federal securities law, as reported by the Seattle Times. A SEC complaint was filed on January 21 in the California federal Court. The complaint stated that Russell’s huge profits from his cannabis business attracted investors to the deal. Green Acre Pharms. Russell was a co-conspirator with, Guy Scott Griffithe of California who drained $3.5 million of the investors’ cash on “extravagant luxuries, inappropriate personal expenditures, and unrelated business ventures” says the SEC complaint. This included a yacht as well as expensive vehicles.

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