Pot Co. Says Founder Embezzled Up To $4M, Hid Rap Sheet

Law360 (July 21, 2021, 9:35 PM EDT) -- A cannabis company and its shareholders have filed suit against its founder in a New York state court, alleging he embezzled at least $1.1 million and possibly up to $4 million and hid his criminal record to induce investment in the company.

The company and investors alleged that William Sydney "Trey" Prevost III, who co-founded the cannabis cultivation and manufacturing company Tower 26 Inc., stole money they provided him for rent, electric bills, employee salaries and other expenses. The investors also alleged Prevost misrepresented the amount of experience, knowledge and contacts he had in the business, as well as his purported...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!