Securities Arbitration Lawyers BlogSEC Charges Texas-Based Greenview In Cannabis Stock Fraud
In the rush to get into the newest investment markets ahead of the curve, some companies will say anything, even if it’s wrong. Our law firm is actively involved in several Cannabis investment lawsuits.
This week, the SEC filed charges against the Dallas, Texas based Greenview Investment Partners L.P. and its founder Michael E. Cone. The complaint alleges that Cone and his company defrauded investors out of more than $3.3 million with the idea that they would loan money to marijuana-related businesses. The company closed after an FBI probe earlier this year.
“Greenview allegedly exploited investor interest in the marijuana industry and lied about high returns and the backgrounds of its key executives,” said Shamoil T. Shipchandler, Director of the SEC’s Fort Worth Regional Office.