Financiers behind Colorado fund that sought $50M for pot investments faced legal troubles in Calif., Ariz. – The Denver Post

Members of a team that sought to raise $50 million from investors to finance the marijuana industry in Colorado and other states racked up more than $4 million in court judgments and settlements for their ties to a troubled California construction firm.

The Colorado High Yield Fund, based in Longmont, advertised itself on its website as “a capital fund that invests in financing instruments with financial entities in the medical and recreational marijuana industry as well as the related industrial hemp commodity market.”

The website stated the fund would “seek to accrue and payout no less than a net 15 percent dividend” to investors, and it made no mention of legal issues facing team members of the fund. The site was deactivated recently after inquiries by The Denver Post.

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