Information and Alerts
Alert Details
This business has 1 alert.
Government Actions
Vitaly Fargesen and Igor Palatnik Misappropriated Approximately $4 Million of Investor Funds
On July 10, 2024, Vitaly Fargesen and Igor Palatnik were sentenced to 4 years and 78 months in prison, respectively, by U.S. District Judge Loretta A. Preska (United States Attorney’s Office Southern District of New York) for participating in a scheme to defraud investors in CanaFarma Corp. and, later, CanaFarma Hemp Products Corp. (together, “CanaFarma”), by soliciting funds based upon false and misleading representations, failing to invest investor’s funds as promised, and secretly misappropriating millions of dollars of CanaFarma funds. In addition to the prison sentence, FARGESEN, 54, of Manalapan, New Jersey, and PALATNIK, 49, of Morganville, New Jersey, were each ordered to forfeit $1,733,000 and to pay restitution in the amount of $4,703,915.26. For more details go to https://www.justice.gov/usao-sdny/pr/two-new-jersey-men-sentenced-scheme-defraud-investors-hemp-company.
Important Information
Additional Info
Mail sent to the business on 10/24/2022 was returned by the U.S. Postal Service as Undeliverable as Addressed.
Service Area
- 08557
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.