CBD Fraud Case In UK, Canada Wants To Reduce Regulatory Burden On Weed Companies And More Global Updates
UK CBD Co. Shares On Pause As Two Execs Tried To ‘Defraud’ It
The UK-based Chill Brands Group PLC (LON: CHLL) opted to suspend the trading of its shares on the London Stock Exchange as its board members and executives are not on the same page, reported Hemp Today.
According to the company’s Monday announcement two directors, Antonio Russo, chief commercial officer, and Trevor Taylor, chief operating officer attempted to “defraud” the business, prompting Chill Brands to launch an investigation into the matter.
The company claims the two executives seized the company’s Chill.com website and transferred £314,000 ($400,000) to their private bank accounts in the United States. That move was not approved by the company’s board of directors.
In an earlier announcement, the company said it halted trading to deal with “allegations that had been raised around the use of inside information” by CEO Callum Sommerton.
To learn more about cannabis stocks and …