Investors Say Car Dealer Scammed Them With Phony Pot Biz

Law360 (August 20, 2020, 8:06 PM EDT) — A group of investors that sank more than $2 million into a purported cannabis venture has demanded the return of their funds plus treble damages, alleging they were bamboozled into participating in a $15 million unregistered securities offering.

The investor group — consisting of Areti Ventures LLC, BWO LLC, Westlake Investment Group LLC, Bud Brothers LLC and several individuals — said in a lawsuit Wednesday that Kris Swaffer made various misrepresentations and omissions about a cannabis venture he said would operate in Macedonia, Michigan and Texas.

But the investors said that Swaffer, a car dealer from Michigan, used the investment funds…

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