Washington cannabis farm focus of $4.8M Ponzi scheme case

SEATTLE – A Seattle cannabis farm owner has been accused of operating a Ponzi scheme that took in $4.85 million from at least two dozen investors in Washington, Arizona, California and Texas. The Seattle Times reported 60-year-old Robert W. Russell of Duvall has been charged by the U.S. Securities and Exchange Commission with civil violations of federal securities law. No criminal charges were filed in the case involving Green Acre Pharms. An SEC complaint says investors were enticed by promises of enormous profits, while Russell and partner Guy Scott Griffithe spent $3.5 million on luxury items including cars and a yacht.

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