September 16, 2024
A California cannabis company and its co-founders on Monday appealed a federal court decision booting them from the securities industry and holding them liable for roughly $6 million tied to a medical marijuana investment scam, the same day that the U.S. Securities and Exchange Commission asked the court to order a third individual to pay up for his part in the alleged scam.
April 21, 2023
The U.S. Securities and Exchange Commission asked a California federal judge Friday to consolidate enforcement actions against C3 International, maker of the cannabis pill Idrasil, and a former business development chief stemming from alleged fraudulent securities offerings.
November 10, 2022
A California federal judge has granted a default judgment against the makers of cannabis pill Idrasil in a suit from the U.S. Securities and Exchange Commission alleging it defrauded investors, ordering the company to pay $1.9 million in disgorgement and $3.1 million in civil penalties.
September 28, 2021
The U.S. Securities and Exchange Commission on Tuesday filed suit against the makers of the cannabis pill Idrasil, alleging that C3 International Inc. and its co-founders raised approximately $2 million from more than 40 investors by selling stock in the company through misrepresentations, omissions and false statements.