According to MintPress News, the emerging marijuana industry is projected to be worth close to 9 billion dollars in the next five years. Though this presents a great opportunity for new people to enter the industry, it also invites the company of marijuana scammers. As an international cannabis license consultant firm, it is important for Quantum 9 to follow up on these possible claims.
The Financial Industry Regulatory Authority Issues an Investor Alert
An Increase in Marijuana Scammers in the Stock Market
The FINRA Issued an alert that there was an increase in marijuana stock scams. Because the cannabis industry has steadily built momentum over the past 10 years, con artists have become attracted to the industry. According to the alert, these scammers use fax, email, and phone to target investors.
Gerri Walsh, FINRAs Sr. VP said that investors who are thinking about investing heavily should think twice when approached by a stranger.
“Why [would] a total stranger tell [you] about a really great investment opportunity?”
Welsh’s advice? Always find out if the person promoting this opportunity is licensed. You can do this using FINRAs BrokerCheck. You can also research the investment using the Securities and Exchange Commission’s EDGAR database of company filings. These are great ways to figure out if you might be working with a marijuana scammer!
Bruce Perlowin of Hemp Inc.: Guilty?
Hemp Inc. CEO Enraged at Possible Accusations
The Las Vegas-based CEO says that if the warning is about him, it’s absurd. He thinks he was targeted because he used to sell illegally. He also ran one of the biggest smuggling/illegal marijuana trade operations in the United States. Perlowin doesn’t see his past as a negative, however. He also doesn’t consider himself a marijuana scammer.
The increased interest in him happened when Hemp Inc stocks went from 1.5 cents to 10 cents in February of 2013. He insists that his products are real and that he invests out of his own pocket.
Quantum 9’s own cannabis license consultant extraordinaire and CEO, Michael Mayes is a major investor in the industry. However, an 8.5 cent jump is pretty dramatic. Who knows how Perlowin achieved it!
Tricky? Yes. Worth it? Definitely Yes.
Marijuana Scammers Only Make Something Tricky, Trickier
In the last five years, investing in the cannabis industry has gotten less tricky. However, it’s still a difficult business. Quantum 9’s Michael Mayes says:
“The reality [is] that if you’re swinging for the fences, you have to know you might strike out.”
That’s why having a knowledgable cannabis license consultant is so important. Of course, this is especially true when you’re just starting out. Quantum 9 is a fantastic globally acclaimed consulting firm. Check out our resources for more information.
Investing in cannabis, just like with any industry is always going to have risks. Furthermore, the truly important thing is to educate yourself about the risks. That is why it’s so important to be aware of cannabis scammers and other dishonest people who may just be trying to take your money!
