Feds, SEC Accuse Snack Co. Of Defrauding Investors Of $2M

Law360, Los Angeles (October 11, 2017, 7:02 PM EDT) -- Federal prosecutors and the U.S. Securities and Exchange Commission on Wednesday filed fraud charges against a trio of business associates accused of raising approximately $2 million for a caffeinated chocolate snack company under false pretenses, including a made-up proposed acquisition by Monster Energy.

Lisa Bershan, 60, her husband Barry Schwartz, 71,  and business partner Joel Margulies, 72, are facing securities fraud, wire fraud and conspiracy charges in connection to an alleged scheme to defraud investors in a company alternatively dubbed The Awake Co. and Starship Snacks,...
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