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Replies to post #65543 on Marijuana Inc (MAJI)
"The declarations lay out in detail the factual basis of the concern that PBC may immediately “divert [plaintiffs’] remaining $2.8 million to other accounts, companies or individuals.”
"In conjunction with the history and discussions between plaintiffs and PBC and its CEO,
Costello, plaintiffs were made aware through a review of the issued checks that some or all of their
funds had been transferred to another company controlled by Costello, GRN. Despite having no
contractual relationship with plaintiffs, a number of the checks issued on plaintiffs’ behalf were
drawn on GRN’s account. As such, it appears that PBC has transferred plaintiffs’ funds to GRN.
Costello has represented to plaintiffs that GRN is a company under his control and that he is the
authorized signatory on that account. GRN's retention of plaintiffs' funds is especially concerning
when coupled with plaintiffs' efforts to confirm PBC's corporate status. Plaintiffs' investigations
suggest that PBC was never incorporated. To act as a financial institution in Washington, it is
plaintiffs' understanding that PBC should be registered to so act in Washington. Its apparent
failure to be so registered is, thus, very concerning."
"the concern that PBC may immediately “divert [plaintiffs’] remaining $2.8 million to other accounts, companies or individuals”
04/14/20 9:39 PM
AI
