A Beverly Hills man, Mark Roy Anderson, has been sentenced to 25 years in federal prison for defrauding investors of nearly $18 million through fake businesses in the hemp industry. The sentence was handed down by United States District Judge Fernando L. Aenlle-Rocha, who described Anderson as "an accomplished and incorrigible con man" and emphasized the need to protect the public from him.
Anderson, aged 70, pleaded guilty in April 2024 to two counts of wire fraud and has been in federal custody since May 2023. His schemes were carried out while he was on home confinement and supervised release for a previous fraud conviction.
Acting United States Attorney Joseph McNally stated that Anderson "stole more than $18 million from dozens of investors by promising quick returns on their investments into hemp farms and other exotic investments." The court scheduled a restitution hearing for June 4.
In one scheme between June 2020 and April 2021, Anderson duped investors into funding his company, Harvest Farm Group. He falsely claimed it operated a profitable hemp farm in Kern County that produced medical-grade cannabidiol (CBD) isolate. To appear credible, he concealed his criminal history and ongoing sentence from investors.
The second scheme involved soliciting funds for two fictitious companies, Bio Pharma and Verta Bottling, from April 2021 to May 2023. Anderson falsely represented these businesses as successful manufacturers of CBD-infused products and other commercial goods. He fabricated legal documents to mislead investors about purchase orders worth millions.
Instead of using the money as promised, Anderson spent it on personal expenses including luxury cars and real estate. In total, he obtained over $18.8 million from 45 victims with losses amounting to approximately $17,745,150.
The FBI investigated the case with Assistant United States Attorney Kerry L. Quinn prosecuting.