The SEC in October charged two other CanaFarma executives, Vitaly Fargesen, CanaFarma senior vice president of strategic planning, and Igor Palatnik, the company’s senior vice president of product acquisition, of defrauding investors out of at least $4 million. Fargesen and Palatnik pleaded guilty later that month to two counts of fraud related to the scheme.
The complaint against Barone and Chumenko alleges that CanaFarma executives made misrepresentations to investors, including claims that the company was fully integrated and was processing hemp from its own farm when in fact it had not processed any of its own hemp, and its products used hemp supplied by third parties.
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SEC Obtains Judgements Against Two Former Hemp Company CEOs for Fraud
Sean Hocking
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