Fraudsters target pot stocks — POLITICO

Companies selling marijuana products and spinoff businesses associated with its distribution have tapped the public stock markets. They provide an easy target for fraudsters looking to convince gullible investors there is gold in weed.

“Right now, the flavor of the day is marijuana,” said Thomas Sporkin, who spent 20 years at the Securities and Exchange Commission’s enforcement division and is now a lawyer at BuckleySandler. “People want to make a quick buck. Investors are predisposed to promotions that promise big returns.

via Fraudsters target pot stocks – Patrick Temple-West – POLITICO