Missouri State Highway Patrol accuses Kelly Waggoner, CEO of Red Tractor Cultivation, of forgery, filing false documents and identity theft. The charges allege that Waggoner submitted fraudulent documents to the Missouri Department of Health and Senior Services in an attempt to comply with regulations and increase the value of his marijuana business.
According to court documents, Waggoner raised capital from investors by selling convertible notes, but some funds were misused on an SUV, personal items and legal fees for Waggoner. Allegedly, Waggoner sold the business’s marijuana licenses to an investor from St. Louis without disclosing the transaction to stakeholders or the DHSS.
A criminal summons has been issued for Waggoner, who is a resident of Peculiar, Missouri. An initial court appearance is set for 9 a.m. on July 17th. The legal proceedings stem from Waggoner’s alleged fraudulent activities associated with his marijuana business.
