A Maine-based medical marijuana company and its founder settled SEC allegations of advertising unregistered sales of securities on Craigslist.
Richard J. Greenlaw and his firm will pay more than $390,000 to settle Securities and Exchange Commission allegations of raising $500,000 from investors through unregistered securities sales, the agency said Aug. 28. Greenlaw and NECS LLC, formerly known as New England Cannabis Solutions LLC, solicited investments in the medical marijuana business on Craigslist, according to an Aug. 17 SEC complaint in the U.S. District Court for the District of Maine.
Greenlaw first posted Craigslist ads seeking investors for his medical marijuana ...
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