The U. S. Securities and Exchange Commission has filed suit against the former business development chief of a purported medical cannabis company, claiming he “duped” half a dozen would-be investors out of nearly $480,000 with misleading claims about the company’s “revenue, profits and cash flow that had no basis in reality.
“In a complaint filed Wednesday in Los Angeles federal court, the SEC claimed that Nicolas Arkells, the former chief of strategy and business development at C3 International Inc. , falsely presented C3 as “a successful, sophisticated company with existing operations and prospects for huge financial growth,” when he knew that the company…
To Read The Rest Of This Article By Emilie Ruscoe on Law360
Published: August 25, 2022
Founder & Interim Editor of L.A. Cannabis News