Bruce W. Spinney III, a former Grafton town official, was arrested on Friday on federal fraud charges. The charges allege that he solicited hundreds of thousands of dollars for his marijuana company and used the money to pay off debts.
Spinney, who previously served as chairman of the Grafton Board of Selectmen, resigned in August 2019. After leaving office, he allegedly solicited funds from investors for his new marijuana dispensary venture, Noble Manna Inc., which was supposed to have locations in Grafton and Mendon. However, instead of using the funds for the intended purpose, Spinney is accused of paying down debts for his linen business and rental business.
According to prosecutors, Spinney used the money from investors to make payments to debt collectors, outstanding business loans, cash withdrawals, and personal expenses. In March 2020, he allegedly used $27,000 from the scheme to pay a debt related to his rental business. Spinney appeared in federal court in Worcester on Friday and was released with conditions.
If convicted, Spinney faces up to 20 years in prison
