CV Sciences Inc (CVSI)

[MontanaJackIsBack]

Naivete again.

Why was he fined and banned?

This was a plea bargain to keep him out of jail...not a dismissal of wrong doing.

SEC doesn't need a guilty finding to question integrity

Exactly 100% correct, plus let's not forget this beaut perpetrated by the founder of CVSI and their largest stockholder;

In 2011, Michael Mona was on trial in California for fraud. After the trial, the court stated; “Mr. Mona intentionally defrauded the plaintiff by “misrepresent[ing] material facts and conceal[ing] other material facts.” The California Superior Court found that Michael Mona committed fraud and awarded plaintiff Far West a $17.8 million dollar judgment against Michael Mona — both individually and in his capacity as trustee of the Mona Family Trust. In order to avoid paying the proceeds of the Judgment Mr. Mona wanted to file Bankruptcy but he couldn’t. He had previously filed in 1999 (case # 9912412) but wasn’t discharged until January 4, 2006. Due to the 7 year rule he was unable to AGAIN to file Bankruptcy to AVOID the now 18+ million dollar judgment he duly owed. He therefore formed the “Mona Family Trust” and moved ALL his and his wife’s assets to The Mona Family Trust. However, The California court also found that Michael Mona Jr. was the alter ego of the Mona Family Trust, and that both Michael Mona and the Mona Family Trust were liable for damages awarded to Far West. Far West then domesticated the California judgment in Nevada against Michael Mona and the Mona Family Trust for damages caused by his fraud.

(Source: Far West Indus. v. Mona, et al., California Superior Court, Riverside County, No. RIC495966.)"



The collection of this judgment by Far West is still being litigated today as with post judgment interest the judgment has now grown to 20+ million dollars



Source: https://caselaw.findlaw.com/nv-supreme-court/1750014.html