![Former Massachusetts official accused of defrauding investors in his cannabis business Former Massachusetts official accused of defrauding investors in his cannabis business](https://i3.wp.com/www.bostonherald.com/wp-content/uploads/2024/05/Marijuana-Daily_Use_56188.jpg?w=1024&h=682&w=1200&resize=1200,0&ssl=1)
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A former Grafton Select Board chairman has been charged with three counts of wire fraud related to a scheme to defraud investors in his marijuana company. (KeynoteUSA Photo/Jeff Chiu, File)
The feds have arrested a former Bay State elected official for allegedly defrauding investors in his marijuana company.
Bruce Spinney III, who was previously president of the Grafton Select Board, was arrested Friday by FBI special agents in Boston.
The 49-year-old was charged with three counts of wire fraud related to a scheme to defraud investors in his marijuana company, according to the Massachusetts U.S. Attorney’s Office. He was also charged with conducting an illegal monetary transaction.
The feds allege that after Spinney resigned as chairman of the Grafton Select Board in August 2019, he solicited hundreds of thousands of dollars from various investors for his new marijuana dispensary company, Noble Manna, Inc.
Prior to incorporating Noble Manna in October 2019, Spinney operated Spinney Enterprises, an equipment and linen rental business that was accumulating large amounts of debt.
Spinney allegedly told Noble Manna investors that he would use the money to build and license marijuana dispensaries in Grafton and Mendon.
“However, it is alleged that, contrary to his statements regarding the use of the investment money, Spinney immediately used the investors’ money to pay off previously existing debts for his clothing and rental business, including payments to debt collectors, loans Pending trades and cash withdrawals. and personal expenses,” the U.S. Attorney’s office said in a statement.
Also in March 2020, Spinney allegedly used proceeds from the wire fraud scheme to wire $27,000 to pay a debt related to his rental business in an illegal monetary transaction.
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