Pot Co. says founder embezzled up to $ 4 million, hidden rap sheet

Law360 (July 21, 2021, 9:35 p.m. EDT) – A cannabis company and its shareholders have filed a lawsuit against its founder in a New York state court, alleging he embezzled at least 1.1 million dollars dollars and possibly up to $ 4 million and had hidden his criminal record to encourage investment in the company.

The company and investors alleged that William Sydney “Trey” Prevost III, who co-founded cannabis cultivation and manufacturing company Tower 26 Inc., stole money they had provided him with for rent, electricity bills, employee salaries and other expenses. Investors also alleged that Prevost misrepresented the amount of experience, knowledge and contacts he had in the business, as well as his alleged …

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