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Marijuana Magnate's Assets Frozen In $7M SEC Suit

Law360 (March 8, 2018, 8:57 PM EST) -- A Colorado federal judge on Thursday agreed to freeze over $3 million of medical marijuana magnate Jeffrey Friedland’s assets in light of the U.S. Securities and Exchange Commission’s lawsuit accusing him of illicitly making $7 million for touting a marijuana-based pharmaceutical company’s stock.

U.S. District Judge Marcia S. Krieger said in her order that the SEC had shown a high likelihood of prevailing on its claims that Friedland, an influential figure in the medical marijuana community, promoted the stock of OWC Pharmaceutical Research Corp. without ever...
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Case Information

Case Title

United States Securities and Exchange Commission v. Friedland et al


Case Number

1:18-cv-00529

Court

Colorado

Nature of Suit

Securities, Commodities, Exchange

Judge

Marcia S. Krieger

Date Filed

March 5, 2018

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