Medical Marijuana Grower’s ‘Loans’ Duped Investors, Lawsuit Says

Mississippi Green Oil LLC and its principals violated securities regulations when they solicited unregistered 30-day loans from two Georgia residents who were never repaid, the investors say in a new suit.

The company used impressive valuations and forecasts, along with assurances that “the plants were in the ground,” to induce the loans, investors David Konits and Scott Shier say. Their suit against Mississippi Green, its founder Thomas Moore III, and Charles Hill, who may also be an owner, was entered in the docket of the US District Court for the Northern District of Georgia on Monday.

Mississippi Green “did not ...