SEC Sues LA Investment Firm for Allegedly Funneling Funds Designated for a Cannabis Business to a Pizza Chain
This suit was surfaced by Law.com Radar. Read the complaint here.
September 27, 2021 at 04:12 PM
1 minute read
The U.S. Securities and Exchange Commission sued VerdeGroup Investment Partners and other defendants Monday in California Central District Court for allegedly misappropriating approximately $467,000. The defendants are accused of misrepresenting to investors that their money would go toward a marijuana business venture, then funneling most of the funds to relief defendants Tommy's Pizza Ventures and Cynthia Gaffney. Lawyers have not yet appeared for the defendants. The case is 2:21-cv-07663, Securities and Exchange Commission v. VerdeGroup Investment Partners, Inc. et al.
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