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Be careful who you do #cannabis business with.

Be careful who you do #cannabis business with. The industry appears to attract the worst types of people.

"The group engaged in so many alleged actions, it’s easiest to just list them as follows:

-Claimed the investments would generate returns of 100% or more

-Misrepresented their compensation

-Misappropriated $2.7 million

-Misled and deceived investors about a purported “business loan,” secured by C-Quadrant’s real property

-Rather than using that business loan for the benefit of C-Quadrant, Gregory used the loan proceeds to pay off different investors in an entirely unrelated entity.

-Falsely claimed a relationship with a prominent California University

-Acted as unregistered broker-dealers in connection with the offerings, none of which were registered with the Commission

-Used general solicitation to attract prospective investors, including via cold calls, Craigslist, Facebook, and other websites and social media.

-None of the securities offerings were registered with the Commission as required by the Securities Act

-Many of the investors in each offering were unaccredited and unsophisticated.

-The defendants did not take reasonable steps to verify the investors’ accreditation status"

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