By Habit 420
Oregon Cannabis Connection
Sept 5, 2016 – The Oregonian reported that another person was bilked thousands from unsuspecting investors in a securities fraud case. Todd C. Grange was fined $60,000 dollars for defrauding Colorado investors to the tune of $80,000.
The con man had a website set up, and had made claims of major investments having already made, to the tune of millions. It was all a lie to fool investors. His sham company was called THC Pharmaceutical.
The Oregon Department of Consumer and Business Services imposed the fine, the second one in a few months. Cannacea’s founder Tisha Siler was fined $40,000 earlier this year under similar charges of fraud.
“The state also determined that Grange’s claims to have raised $9 million from 27 investors and that the company had been in business for at least five years were false. Investigators concluded that THC Pharmaceutical was never incorporated in Oregon.
“This is a classic case of a fraudster going out there and pitching an investment that is clearly too good to be true using the hot new industry as the hook,” said Jake Sunderland, a spokesman for the agency. “Sometimes it’s oil. Sometimes it’s gold and sometimes it’s silver. In this case, it’s marijuana.”
With the law suits facing Steven Travis Maurer, and the problems Paul Stanford recently encountered, it’s best that people stay aware of who they are dealing with, and maybe do a background check if you plan on investing tens of thousands of dollars?
Lets hope so.
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