Scammer who posed as cannabis billionaire pleads guilty to securities fraud

Prosecutors in Federal Court in Seattle are recommending a 10-year sentence for a man who lied about his background, education, military service and finances to dupe cannabis investors.

The man, who posed as a billionaire and a twice-wounded Special Forces Iraq veteran, has pleaded guilty to securities fraud, reports CNBC.

The 42-year-old man, who previously lived in Bellevue, Wash., made the plea three months after being arrested in a remote area of Southern California en route to Mexico in the hopes of fleeing prosecution.

According to a news release from the U.S. Attorney’s Office, Western District of Washington, the man was carrying fake identification documents, US$60,000 ($80,735) in cash, gold bars, Mexican pesos, two designer watches and gem-encrusted jewellery at the time of his arrest.

In his guilty plea, the man admitted to scamming cannabis business owners and both private and public investors. He also stole

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Prosecutors in Federal Court in Seattle are recommending a 10-year sentence for a man who lied about his background, education,… Continue reading
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