Pity one of these companies can’t create and develop a cbd strain that cures greed and graft amongst board members. They’d be onto a winner with that wonder drug !
Hemp Industry Daily Report
The board chairman of GenGanna Global, a Kentucky hemp and CBD company that went bankrupt, diverted more than $4 million in cash and benefits to his hemp company, according to a lawsuit.
A lawsuit filed by OGGUSA Inc., GenCanna’s new name since the bulk of its assets were sold, alleges Michael Falcone also had GenCanna pay two employees he hired for his company, Southern Tier Hemp, Law 360 reported.
The bulk of GenCanna’s assets were sold in May to its largest creditor, New York-based private direct lender MGG Investment Group, for $77 million.
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Board chair of bankrupt GenCanna diverted funds to his company, lawsuit alleges
