WeedGenics Co-Owner Must Pay Over $38 Million for Investor Fraud

WeedGenics co-owner Rolf Max Hirschmann must pay more than $38 million in an enforcement action brought by the Securities and Exchange Commission over an allegedly fraudulent offering.

The penalty against Hirschmann, who also went by the name Max Bergmann, includes $20 million in disgorgement, a nearly $11 million civil fine, and more than $7 million in prejudgment interest, according to an amended final judgment entered Sept. 5 in the US District Court for the Central District of California. He will also be permanently barred from participating in securities offerings or purchases outside of his own accounts.

Hirschmann and Patrick Earl ...