Cannabis Fraud

$700M+ Medical Marijuana Ponzi Scheme With Over Half-Million Duped Investors Busted In Europe
A massive medical cannabis Ponzi scheme was dismantled in Europe on Thursday. A joint investigation by European law enforcement authorities, backed by Eurojust and Europol resulted in the arrest of 9 suspects of Russian, Dutch, German, Italian, Latvian, Maltese, Polish, Jordanian, United States and Venezuelan nationality, following the "JuicyFields" investment fraud case. A Ponzi scheme is an investment scam that makes payments to early investors with money coming from later investors thus creating an illusion of big profits while promising a high rate of return with little risk to the investor, according to Investopedia.
Securities Fraud Saga Comes To Close As Former Cannabiz Mobile Consultant Receives Final Judgment
Anthony Jay Pignatello has been handed a final judgement by the US Attorney's Office in relation to a cannabis securities fraud scheme at Cannabiz Mobile, where he served as consultant and secretary. Pignatello was alleged to be part of a pump-and-dump scheme with Christopher Esposito, Cannabiz's former owner, whose fraudulent activities had already seen him sentenced to five years' probation in November. Pignatello has been permanently restricted from being an "officer or director of any issuer that has a class of securities registered under Section 12 of the Exchange", as well as permanently banned from participating in penny stocks. He is also obliged to pay $43,337, a fee that has already been deemed settled due to a parallel criminal hearing regarding securities fraud to which Pignatello had already pled guilty.