March 09, 2017

Notis Global, Inc., f/k/a Medbox, Inc., Vincent Mehdizadeh

Financial Fraud

SANCTION AMOUNT: Approximately $12 million

Defendants: Notis Global, Inc., f/k/a Medbox, Inc.
Vincent Mehdizadeh

Mehdizadeh was the founder of Medbox, described as a leader in the marijuana industry. However, its revenues were allegedly boosted by illegal stock sales carried out by a shell company created by Mehdizadeh called New-Age Investment Consulting. Further, Medbox allegedly issued press releases headlining the phony revenues as record earnings to legitimize itself as a viable commercial operation when in fact nearly 90 percent of the company’s revenue in the first quarter of 2014 stemmed from sham transactions with New-Age.

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