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CBD Co. Hit With $12M Fraud Suit Over Failed Biz Transaction
Law360 (April 29, 2021, 10:23 PM EDT) India Globalization Capital took ownership of a brokerage company owned by Apogee Financial Investments in an effort to break into the cannabis industry, but it didn t live up to its financial promises, leading to the downfall of the brokerage, according to Apogee s New York federal lawsuit filed Thursday seeking $12 million.
Apogee said that in 2014, Ramachandra Makunda was struggling to raise capital for Maryland-based IGC and was at risk of losing the company s registration with the New York Stock Exchange. It was at that point that Makunda sought the services of Midtown Partners & Co. LLC, a broker-dealer owned by.