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Colorado marijuana business owner ordered to stop illegally soliciting investors

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Submitted by Marijuana News on Sat, 07/18/2015 - 08:45

For two months one man posted Craigslist advertisements seeking “high net worth investors to strategically partner with one of the largest MMJ chains in Colorado.”

But the man, Ryan M. Quinn, was not registered to sell securities and has been ordered to stop.

Colorado Securities Commissioner Gerald Rome issued a cease and desist order Thursday to Quinn stipulating that he can no longer illegally solicit investments for a marijuana business in Colorado.

Quinn, who during the months of April and May 2015 posted the Craigslist advertisements was found by the division, which is part of the Department of Regulatory Agencies, to be conducting solicitations improperly.

The terms of the order, which Quinn agreed to, requires him to immediately cease and desist in the offering of unregistered securities, to cease offering securities as an unlicensed issuer, and to cease engaging in any further violation of any provision of the...

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Colorado
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URL: 
http://www.bizjournals.com/denver/blog/finance_etc/2015/07/colorado-marijuana-business-owner-ordered-to-stop.html

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