SEC Sues Cannabis Fund, CEO Over $38 Million Ponzi-Like Scheme

4 months ago

Opalesque Industry Update – On July 22, 2024, the Securities and Exchange Commission charged fund manager Robert Newell and his prior firm, Black Hawk Funding, Inc., with engaging in undisclosed misuses of investor funds, making Ponzi-like payments, and distributing misleading disclosure documents to investors in connection with three cannabis-related private fund offerings. The SEC’s complaint […]