DENVER—A Fort Collins medical marijuana company that state officials say sought investors on Craigslist has been ordered to stop selling or offering securities in Colorado.
Colorado Securities Commissioner Fred Joseph said Wednesday that Colorado Wellness Providers LLC and its owner and manager, Charles Perry, were trying to raise money for their facility by advertising on Craigslist. Joseph says Perry didn’t register his security offering and has agreed to the state’s order.
State officials say Perry’s ads invited investors to capitalize on an “excellent return on a short term investment” and were seeking $50,000 to finish the company’s facility. They say Perry advertised that the investments would be collateralized by a marijuana crop insured by Lloyds of London.
