Cannabis Investment Fraud: Serial Con Artist Pleads Guilty in $18M Scam

April 8, 2024


California authorities have exposed a major cannabis investment fraud scheme. Convicted con artist Mark Roy Anderson has pleaded guilty to swindling $18 million. He targeted investors shortly after his release from prison for a previous fraud conviction. Anderson faces up to 20 years in prison.

Source: APNNews


This case highlights the dangers of investment fraud, especially within the rapidly growing cannabis industry. Serial fraudsters like Anderson often prey on investor enthusiasm in emerging markets, where regulations and oversight may still be developing. Understanding these risks is crucial for investors seeking opportunities in the cannabis sector.



iCognative™ is a brainwave-based tool that detects specific knowledge held by an individual. Investigators can input confidential information into the technology and show it to suspects. In cases of serial investment fraud, it could offer investigators significant advantages:

Mark Roy Anderson’s guilty plea is a victory for law enforcement and defrauded investors within the cannabis industry. However, his history highlights the need for continued vigilance against repeat offenders. iCognative technology offers a powerful investigative tool to expose these schemes, aid in asset recovery, protect investors, and ensure justice is served in investment fraud cases.

Source: Brainwave Science