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HEMP Smoked!

June 22, 2016:  One of the biggest and longest continually run scams on the OTC was delivered a serious blow today following the SEC's filing of civil charges against the principals behind HEMP, Inc. (HEMP).

Although it never really claimed to be involved in the consumable marijuana industry, HEMP  nonetheless rode the coattails of the frenzy for marijuana-related stocks, largely in part to its CEO's infamy. Bruce Perlowin, the self-professed King of Pot, ran the share selling scheme with his lieutenants, evangelizing Born Again Christian, Barry Epling, and Jed Perlowin, Bruce's brother. Interest in the stock was maintained by active message boards and HEMP's penchant for daily re-releasing of news unrelated to the company as if it did actually have some relation to HEMP's operations

According to the complaint, Bruce Perlowin and Epling conceived a scheme under which hundreds of millions of unregistered shares of HEMP would be sold into the public market. Epling and Jed Perlowin received enormous quantities of stock at various times through companies they controlled, sometimes per consulting agreements and at other times as gifts in recognition of “affection and appreciation for over 20 years of friendship and loyal assistance.”. These co-conspirators would then sell those shares and kick back a significant portion of the proceeds to Bruce Perlowin.  In order to facilitate the selling of the ill-gotten HEMP shares, Bruce, Epling and, Jed Perlowin made false written statements to Alpine Securities and Scottsdale Capital, regarding the circumstances under which the shares had been obtained and the restrictions on those shares.

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