SEC Files Charges Against Pot Company
The Securities and Exchange Commission charged Medbox, now Notis Global, and its founder, Vincent Mehdizadeh, with falsely touting “record” revenue numbers in its marjuana consulting services and vending machines for marijuana to investors. Meanwhile 90% of its earnings came from sham transactions from illegal stock sales' proceeds to boost its false earnings with a secret affiliate. In order to settle the charges Mehdizadeh agreed to pay more than $12 million in disgorgement and penalties and agreed to be barred from serving as an officer or director of a public company or participating in any penny stock offerings. Andersen Sleater Sianni represents investors injured through fraudulent schemes. Click here to read more about Medbox.