Ohio Man Indicted Over Alleged Cannabis Candy Fraud Scheme
A Cuyahoga County, Ohio grand jury last week indicted Garett Fortune, 54, on 20 felony counts related to securities fraud in an alleged cannabis candy company scam. The grand jury indicted Fortune on six counts of false representation, six counts of securities fraud, four counts of theft from a person in a protected class, three counts of grand theft, and one count of money laundering. In total, he faces five second-degree felonies, nine third-degree felonies, and six fourth-degree felonies.
The indictment alleges that Fortune solicited $200,000 from six individuals for the purpose of operating a cannabis candy company but misrepresented material facts about the investment and did not disclose pertinent information to the investors.
In a statement, Ohio Securities Commissioner Andrea Seidt said, “It’s a crime to lie, cheat, and steal from Ohio investors.”
“Fraudsters should know that in Ohio the penalties are increased even for smaller-dollar losses when the misconduct involves older victims, as is the case here.” — Seidt in a press release
Fortune is the founder of OdorNo and FunkSac, which specialize in smell-proof and child-resistant for cannabis products, according to a Hoodline report.
In 2015, FunkSac received financial backing from Casa Verde Capital and, in a press release, the company was backed by Snoop Dogg.