NJ Bureau of Securities Issues Order Today to Halt Internet Sales of Fraudulent and Unregistered Securities Tied to Cannabis Products

The NJ Bureau of Securities took action yesterday to halt an online entity from fraudulently offering unregistered securities in the form of investment packages related to various forms of marijuana and marijuana products.

In a Cease and Desist Order issued today, the Bureau directed online entity Buy Cannabis Stocks Investments Inc. a/k/a BCSI Inc. to immediately stop violating New Jersey’s securities laws and cease and desist from offering bogus investment stock packages related to pharmaceutical, medical marijuana, legal hemp/CBD oil, and legal marijuana that promise investors monthly returns ranging from 7.5% to 55%.

To lend an air of legitimacy to its enterprise, BCSI fabricated documents, including one purportedly signed by the Bureau’s Acting Chief indicating that BCSI was registered with the Bureau as a broker-dealer for a period of time.