Shane McMahon Investment Goes Up In Smoke
Monday, October 2, 2017
The New York Daily News is reporting that Shane McMahon has filed a lawsuit within the last year over alleged fraud after he invested in a legal marijuana company.
The story says that Shane invested $500,000 into a company called EnviroGrow, with its main business being the sale of prefabricated modules that assist in the growing of Marijuana. The product was to be sold in states where pot is legal for medicinal or recreational use.
The lawsuit claims that Joseph Palmieri, who founded Envirogrow in Connecticut in 2012, duped McMahon out of the money saying that the product was state of the art in growing pot. Shane invested the money, but when he went to the company's growing operation in Colorado, it was nonexistent and demanded the money back, in which Palmieri refused.
Palmieri and Envrogrow CEO Dan Williams claim that they have been marketing the modules in question as well as doing business in four states for orders.
Adding to this story is that Shane's mother, Linda McMahon is the head f the Small Business Administration and part of the Trump administration. Many members of the administration have been very vocal about tightening restriction on Marijuana use.