(Bloomberg) -- Con artists are taking advantage of the legalization of medical marijuana to lure investors into buying stock in weed-related companies, regulators said.
The scammers may be promoting the shares, then selling them to gullible investors in whats called a pump-and-dump scheme, the Financial Industry Regulatory Authority said today in an e-mailed statement. The companies are touting their growth potential as more states allow pot for medical or recreational use, Wall Streets self-funded regulator said.
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