By Sarah Jarvis (September 27, 2021, 6:47 PM EDT) — The U.S. Securities and Exchange Commission on Monday filed suit against a purported marijuana investment firm over a nearly $613,000 securities offering fraud, alleging the firm duped investors and steered the money to its director for his personal use and to finance his pizza business.
The complaint was filed against VerdeGroup Investment Partners Inc., a Wyoming corporation with principal places of business in Wyoming and Florida, and its alleged director Thomas Gaffney. From January 2018 through July 2019, VerdeGroup raised approximately $612,765 from about 27 investors from several states, according to the complaint.
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