Investors Lost Millions to Scam Deal Involving Fake Cattle, Colorado Marijuana Business

 Investors Lost Millions to Scam Deal Involving Fake Cattle, Colorado Marijuana Business

The SEC has taken receivership over any assets tied to Ray and Stachniw and their various business entities. The court-appointed receiver, in a report filed in federal court this week, cites that Ray’s estate has 98 claims against it totaling $64.1 million, which includes claims from investors in the cattle scheme and banks that were involved. The receivership report also noted Stachniw and her husband had settled with the court for $7 million last October.

Stachniw, Throgmartin, Ray and others, according to the indictment, solicited money from investors with claims that their funds were backed by “short-term investments in cattle.” They also solicited money fraudulently for the marijuana business, Universal Herbs….

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