Investor Demands $3.7M Over Failed Hemp Farm Venture

Law360 (July 28, 2020, 5:25 PM EDT) -- An investment firm has alleged it was conned into forking over $3.75 million in cash and seeds to support a Colorado family's hemp farm and is now seeking the appointment of a receiver to recover the funds after the deal went south.

In a complaint filed Friday in Colorado federal court, Delaware-based HTO Holdings Inc. said that it had entered into an agreement last July with the Lebsock family to get an industrial hemp farming concern off the ground.

As part of the agreement, HTO alleges it gave the Lebsocks over $2.3 million in seeds, plants and other material and over $1.3 million...

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