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LOS ANGELES, California — A 70-year-old Beverly Hills man was sentenced to 300 months in federal prison for defrauding investors of nearly $18 million through sham businesses in the hemp industry. The sentencing took place while he was completing a sentence from a prior criminal case.
Mark Roy Anderson was sentenced by United States District Judge Fernando L. Aenlle-Rocha, who has scheduled a restitution hearing for June 4. During the hearing, Judge Aenlle-Rocha remarked on the severity of the fraud, stating, “The magnitude of the fraud is breathtaking…the [victims’ statements reflect] the depth of the harm. Many have lost their life savings reflecting decades of hard work.” He further described Anderson as “an accomplished and incorrigible con man” and emphasized the need to protect the public from him.
Anderson pleaded guilty in April 2024 to two counts of wire fraud and has been in federal custody since May 2023. He orchestrated two related schemes shortly after his release from federal prison, while still serving his sentence on home confinement and later on supervised release for a previous fraud conviction.
In the first scheme, from June 2020 to April 2021, Anderson deceived investors into funding his company, Harvest Farm Group, by falsely claiming ownership of a hemp farm in Kern County and promising profits from the sale of medical-grade cannabidiol (CBD) isolate. He misrepresented successful harvests and concealed his criminal history to maintain investor trust.
The second scheme, running from April 2021 to May 2023, involved soliciting funds for Bio Pharma and Verta Bottling, two sham companies. Anderson falsely promised returns from these businesses, according to a press release from the United States Attorney’s Office.
Acting United States Attorney Joseph McNally commented on the case, stating, “The defendant stole more than $18 million from dozens of investors by promising quick returns on their investments into hemp farms and other exotic investments. Today’s 25-year sentence takes him off the street so that he cannot harm other victims.”
”}]] LOS ANGELES, California — A 70-year-old Beverly Hills man was sentenced to 300 months in federal prison for defrauding investors of nearly $18 million through sham businesses in the hemp Read More
