Colorado Ponzi Scheme Includes Cattle & Cannabis – You Couldn’t Get More CO If You Tried !

Two people were indicted by the Department of Justice last week for their involvement in a multi-million dollar Ponzi scheme involving fake cattle trades and a Colorado cannabis business.

An Illinois woman and a Georgia man were indicted for running an alleged Ponzi scheme that involved fake cattle trades and a Colorado cannabis business, DTN.com reports.

Reva Joyce Stachniwand and Ron Throgmartin were each charged with federal wire fraud and conspiracy by the Department of Justice last week, while a third person, Mark Ray, who owned Colorado-based Universal Herbs LLC, was charged in federal court in February 2020 for his part in the conspiracy.

Using the made-up cattle trading company MR Cattle Production Services LLC, the three were accused of defrauding investors of over $650 million between 2017 and 2019. The charges grew from a civil complaint issued by the Securities and Exchange Commission (SEC). In the 2019 SEC complaint, Ray is accused of selling unregulated securities related to a cattle company and his cannabis company as far back as 2014.

Read the full story at 

 

Two Indicted Over Multi-Million Dollar Cannabis Ponzi Scheme

 

Cannabis Law Report Has Been Publishing Legal, Professional & Regulated
Cannabis News Daily Since 2016 – All For Free

We want to carry on providing the important cannabis sector
news for free for all our readers.

Costs are rising to produce Cannabis Law Report and we’d like to ask you,
our readers, for a small donation.


Primary Sponsor

New: Free USA Cannabis Case Law Search – New Cases Daily

Directory Categories

Sponsor – aBizinaBox

Top Marijuana Blog
%d bloggers like this: