~$20M Hemp Fraud Lands Disbarred Attorney In Prison
When states began to legalize the production and sale of weed, people were quick to try and make a quick buck off the blunts being passed around. 2020 was a big year for lawyers and their burgeoning cannabis practices. Between consumer demand and the legal ambiguities of weed being legal in some states while also being a Schedule 1 drug federally, the clear legal ambiguity put dollar signs in many a lawyers’ eyes. For example, DLA Piper made headlines when they announced their cannabis practice. Biglaw firms weren’t the only ones that wanted a slice of the leaf. One attorney’s attempt to cash in on the cash crop earned him decades behind bars. My News LA has coverage:
Mark Roy Anderson, 70, who was living in Beverly Hills while on supervised release after serving more than 11 years in federal prison in the earlier case, pleaded guilty in April 2024 to two federal wire fraud counts, according to the U.S. Attorney’s Office.
…
[He] was sentenced Wednesday to 25 years behind bars for duping investors out of about $18.4 million…by falsely claiming that his companies invested in high-profit hemp farms and cannabis-infused retail products as well as a sham bottling business.
The current meta for scamming people for millions is running for office and launching a bitcoin, but Anderson’s scamming happened between 2020 and 2021. Selling snake oil back then would have been a little too on the nose, but the booming CBD and Delta 8 markets easily lended themselves to swindling investors greedy for quick returns out of their cash. Anderson is ultimately responsible for 45 investors losing ~$18.4 million by working with him.
You can shame him for frauding his investors and ending up in the big house — you probably should — but you’ve gotta give him credit for at least going big.
Remember: there’s a line between getting paid to zealously represent your clients and using your law degree to siphon people’s bank accounts. Make sure you and your clients know which side you’re on.
Disbarred Attorney Sentenced 25 Years for Hemp Farm Fraud Scheme [My News LA]
Earlier: There Seems To Be A New Disbarment Baseline
Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s. He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who is learning to swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at [email protected] and by tweet at @WritesForRent.
