Schottensteins Bilked Cannabis Firm With Bogus Talks: Suit (1)

March 10, 2022, 5:07 PM UTCUpdated: March 10, 2022, 6:47 PM UTC

Cannabis company Moxie sued three members of the billionaire Schottenstein family in Delaware on Thursday over a busted $310 million deal, claiming they used bogus transaction talks to usurp business opportunities and walk away with $9 million in ill-gotten loans.

The fraud lawsuit targets Jay Schottenstein—who runs prominent retail brands including American Eagle Outfitters Inc.—along with his wife, one of his sons, and All Js Greenspace LLC, the vehicle through which they invested in defunct Canadian cannabis company Green Growth Brands Inc.

It also names another GGB backer, real estate entrepreneur Adam Arviv, as a defendant. An attorney for ...

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