November 21, 2024
The SEC will score $86,000 in disgorgement and interest from a former executive of C3 International Inc. for falsely claiming the company's cannabis pill was projected to generate millions of dollars in revenue, but the court found the defendant's conduct did not warrant the civil penalty the agency requested.
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.
August 24, 2022
The U.S. Securities and Exchange Commission has filed suit against the former business development chief of a purported medical cannabis company, claiming he "duped" half a dozen would-be investors out of nearly $480,000 with misleading claims about the company's "revenue, profits and cash flow that had no basis in reality."