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Bogus Pot Business

Medbox will pay $12 million to settle charges of defrauding investors in its “biometric identification” marijuana dispensers, 90 percent of whose revenue came from sham transactions, the SEC said.

LOS ANGELES – Medbox nka Notis Global and Vincent Mehdizadeh, of Pacific Palisades, will pay $12 million to settle charges of defrauding investors in its “biometric identification” marijuana dispensers, 90 percent of whose revenue came from sham transactions, the Securities and Exchange Commission said.

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