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An investor in a prominent California edibles company is accusing the firm’s CEO of securities fraud and is seeking to invalidate his claim in the company.
The investor claims in the lawsuit, filed anonymously on July 18, that Robert Weakley, CEO of Altai, lied about his contributions to the company’s accounts and spent some $750,000 of investors’ money on private jets, fancy hotels, and personal legal bills, according to BuzzFeed.
The complaint, BuzzFeed reported, alleges that Weakley told the investor in January 2015 at a meeting they had in Monterrey, California, that he had put in $250,000 cash into