California Attorney General Rob Bonta just released a statement about "the arrest of a Sacramento fraudster and the dismantling of a cannabis investment scheme. Between December 2017 and March 2026, the conman defrauded investors out of more than half a million dollars through a fake cannabis investment scheme."
“The California Department of Justice is committed to safeguarding the public and ensuring a fair, transparent marketplace for everyone,” said Attorney General Bonta. “To uphold this promise, our team works tirelessly to investigate, expose, and dismantle the complex financial crimes and fraudulent schemes that threaten our communities. Those who exploit trust of innocent people to enrich themselves will face the full consequences of the law.”
"According to the charging documents, the defendant targeted patrons at California bars and casinos, enticing them with promises of rapid and exceptionally high returns on investment. The defendant never invested the money. Instead, he used it for personal expenses, gambling, and paying associates. He also pressured victims to invest more money and recruit others into the scam. The investigation was a joint effort between California Department of Justice and the Federal Bureau of Investigations. The United States Attorney’s Office is prosecuting the case and the charges include wire theft and grand theft."
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