Shane McMahon Looking To Recoup Legal Pot Investment?
The Daily News has an article up right now taking a look at a half million dollar investment Shane McMahon made in a legal cannabis company called EnviroGrow.
At this time Shane appears to be trying to recoup his investment from the failed endeavor.
You can read the full article HERE. Below is an excerpt:
EnviroGrow was started in 2012 by Joseph Palmieri, a volunteer firefighter and the owner of Connecticut Tank, an environmental cleanup company.
His success with Connecticut Tank prompted him to work with engineering companies to develop the marijuana-growing modules.
Currently, 29 states and the District of Columbia have legalized marijuana for either recreational or medical use.
Shane McMahon revealed his interest in EnviroGrow in a lawsuit filed in a Connecticut court last year in which he accused the company’s owner of duping him about the state of the company.
The lawsuit says that Palmieri had approached McMahon about investing, telling him that the modules were state of the art, allowing for “around-the-clock growth in a climate-controlled environment that was safe from theft.”
After making the investment, McMahon traveled to Fort Collins, Colo., to inspect EnviroGrow’s manufacturing plant, but found it virtually nonexistent, according to the lawsuit.
McMahon said that he demanded the return of his investment, but Palmieri refused.
Neither McMahon nor his lawyers responded to requests for comment.
The lawsuit is ongoing, but Palmieri has denied all the allegations in the lawsuit.
“EnviroGrow is a viable company,” he said. “It’s a great little business and it’s up and coming.”
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