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SEC sues Sunrise firm over African pot farm deal claims

Two South Florida men are in hot water for promoting their company's stock with reports of securing "preliminary approval" to cultivate medical cannabis in the African nation of Eswatini. The problem with that claim, according to a civil enforcement suit by the Securities and Exchange Commission, is that growing and smoking cannabis is illegal in Eswatini. The company said it had assurances from top-level officials in Eswatini that cannabis would soon be legalized. And then it was...
United States Pembroke Pines Boca Raton Golan Maimon Jim Sallah Markc Perry

SEC Claims Cannabis Co. Hid 'Executive-Like' Felon's Role

A penny stock company's CEO has agreed to pay $150,000 to end U.S. Securities and Exchange Commission allegations that the company lied about plans to grow cannabis in a part of Africa whereย it is illegal and concealed the fact that its "de facto executive officer" previously served time for securities fraud.
Emilie Ruscoe Dan Oran Exchange Commission Profile Solutions Inc Profile Solutions
Source: law360.com

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