Former CEO Of Marley Coffee Shane Whittle Charged With Fraud

Irina Mossi Love Detective

A tweet by Marley heir Rohan “We got so much things to say right now” and thought it was a ‘hmm’ moment. Well now we are wondering if it has anything to do with the former CEO of the company who has been charged with fraud.

Shane Whittle
who had been running the company is built  on the name of  the late reggae star Bob Marley has been charged in the US with running a stock scheme that netted US$78 million in illegal trading profits. 

(adsbygoogle = window.adsbygoogle || []).push({});

According to RJR News the US Securities and Exchange Commission (SEC) filed fraud charges on Tuesday against Shane Whittle, the former CEO of  Jammin’ Java Corporation, a company he co-founded in Los Angeles with Rohan Marley, the late singer’s son.

Marley, who is still involved with the company, was not accused of any wrongdoing.

According to the report Whittle helped by eight outside accomplices, illegally profited by secretly taking control of  millions of shares of  Jammin’ Java, inflating their value and later dumping them on unsuspecting investors.

It further continue that the scheme allegedly involved setting up a front company to make it appear that Jammin’ Java had a financial backer and making various promotional announcements that helped boost the share price.

The alleged accomplices , none of  who are affiliated with the company, are accused of  various promotional activities, including publishing false stock reports and facilitating illegal stock transactions through offshore holding companies.

The company was founded in 2008.The alleged illegal activities occurred in 2010 and 2011.

(adsbygoogle = window.adsbygoogle || []).push({});

If You Enjoy Our Updates Please Make A Donation To Help Keep Our Site Going
You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More