Mo. Atty Agrees To Pay $137K To End SEC's Pot Fraud Suit

Law360 (April 22, 2021, 8:47 PM EDT) -- A Missouri attorney has agreed to pay nearly $137,000 to settle U.S. Securities and Exchange Commission allegations that he misrepresented how he was going to use investments in two entities he incorporated purportedly to launch a medical marijuana business, the agency announced Thursday.

The SEC said that Kansas City resident Corbyn W. Jones, 44, had agreed to disgorge about $82,700 with prejudgment of interest of $3,950, and to pay a $50,000 civil penalty after the SEC sued him in Missouri federal court over his alleged use of investor funds for personal expenses.

According to the SEC, in March 2019, Jones co-founded...

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