C3 International, a California-based cannabis company, refused to participate in a case in which it is being accused, along with its CEO and president, of defrauding at least 40 investors out of approximately $2 million.

The Securities and Exchange Commission (SEC) ordered the company to pay $1.9 million in reimbursement, along with $146,000 in interest and $3.1 million in civil penalties after ignoring the defendant's case, which also enabled the SEC to ask the court for the default judgment.

The company’s founders were spared as they apparently responded separately, reported the Green Market Report.

The SEC complaint (2021) alleged that from October 2011 to November 2019, Steele Smith and Theresa Smith …

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