HEMP, Bruce P., and the SEC??? what happened with the investigation after SEC charged Bruce with fraud, etc.
2017 Article
https://www.forbes.com/sites/nathanvardi/2017...05cf11608a
On Friday, the Securities & Exchange Commission filed fraud charges against CannaVest, now known as CV Sciences, and its CEO, Michael Mona, Jr. CV Sciences currently has a market capitalization of $26 million.
The SEC has already sued Bruce Perlowin, who likes to be known as the king of pot, claiming he committed a long-running fraud as CEO of Hemp Inc, evading registration provisions and selling hundreds of millions of unregistered shares. Perlowin has denied the charges and the case remains open.
2016 Article
https://www.sec.gov/litigation/litreleases/2016/lr23575.htm
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23575 / June 21, 2016
Securities and Exchange Commission v. Hemp, Inc., et al., No. 2:16-cv-1413 (D. Nev. June 20, 2016)
SEC Charges Issuer, its CEO, and His Associates with Engaging in a Fraudulent Scheme to Evade the Registration Provisions of Section 5 of the Securities Act of 1933
The Securities and Exchange Commission on June 20, 2016, charged Las Vegas-based issuer Hemp, Inc.; its CEO, Bruce Perlowin; Bruce's friend, Barry Epling; Bruce's brother, Jed Perlowin; and certain other private companies with engaging in a long-running fraudulent scheme to evade the registration provisions of Section 5 of the Securities Act of 1933 in connection with securities issued by Hemp.
According to the SEC's complaint, Bruce Perlowin and his co-defendants sold hundreds of millions of unregistered and purportedly unrestricted Hemp shares to public investors. The execution of this scheme involved, among other things, purported gifts and consulting agreements that do not appear to have been bona fide, the use of nominee companies, and fraudulent statements made to Commission-registered broker-dealers.
The SEC's complaint charges Hemp, Inc., Bruce Perlowin, Epling, Jed Perlowin, and private companies owned by Epling or Jed Perlowin with violating the registration provisions of Section 5 of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks permanent injunctions, financial penalties, disgorgement of ill-gotten gains plus interest against all defendants, and officer-and-director bars against Bruce Perlowin and Epling.
The SEC's investigation was conducted by James J. Thibodeau and supervised by Richard R. Best of the SEC's Salt Lake Regional Office. The SEC's litigation will be led by Amy J. Oliver.
2017 Article
https://www.forbes.com/sites/nathanvardi/2017...05cf11608a
On Friday, the Securities & Exchange Commission filed fraud charges against CannaVest, now known as CV Sciences, and its CEO, Michael Mona, Jr. CV Sciences currently has a market capitalization of $26 million.
The SEC has already sued Bruce Perlowin, who likes to be known as the king of pot, claiming he committed a long-running fraud as CEO of Hemp Inc, evading registration provisions and selling hundreds of millions of unregistered shares. Perlowin has denied the charges and the case remains open.
2016 Article
https://www.sec.gov/litigation/litreleases/2016/lr23575.htm
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23575 / June 21, 2016
Securities and Exchange Commission v. Hemp, Inc., et al., No. 2:16-cv-1413 (D. Nev. June 20, 2016)
SEC Charges Issuer, its CEO, and His Associates with Engaging in a Fraudulent Scheme to Evade the Registration Provisions of Section 5 of the Securities Act of 1933
The Securities and Exchange Commission on June 20, 2016, charged Las Vegas-based issuer Hemp, Inc.; its CEO, Bruce Perlowin; Bruce's friend, Barry Epling; Bruce's brother, Jed Perlowin; and certain other private companies with engaging in a long-running fraudulent scheme to evade the registration provisions of Section 5 of the Securities Act of 1933 in connection with securities issued by Hemp.
According to the SEC's complaint, Bruce Perlowin and his co-defendants sold hundreds of millions of unregistered and purportedly unrestricted Hemp shares to public investors. The execution of this scheme involved, among other things, purported gifts and consulting agreements that do not appear to have been bona fide, the use of nominee companies, and fraudulent statements made to Commission-registered broker-dealers.
The SEC's complaint charges Hemp, Inc., Bruce Perlowin, Epling, Jed Perlowin, and private companies owned by Epling or Jed Perlowin with violating the registration provisions of Section 5 of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks permanent injunctions, financial penalties, disgorgement of ill-gotten gains plus interest against all defendants, and officer-and-director bars against Bruce Perlowin and Epling.
The SEC's investigation was conducted by James J. Thibodeau and supervised by Richard R. Best of the SEC's Salt Lake Regional Office. The SEC's litigation will be led by Amy J. Oliver.
Disclaimer:
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in all and any posts.
My posts are NOT investment advice. I am not paid to post.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in all and any posts.
My posts are NOT investment advice. I am not paid to post.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
