The Securities and Exchange Commission sued a Minnesota businessman and two entities he controlled, alleging they created fake sales to inflate revenue figures and mislead investors about a now-defunct organic spirits company.
Mark D. Anderson orchestrated sham transactions between Drake’s Organic Spirits Inc. and his other entities to artificially boost the company’s sales figures when seeking investor funding, according to the SEC’s complaint Tuesday in the US District Court for the District of Minnesota.
Drake’s raised approximately $21 million from about 180 investors from its founding in 2016 to when it ceased operations in 2023, with investors losing most of ...
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