Cannabis hedge fund Navy Capital Green Management agreed to pay $150,000 to settle charges levied by the Securirties and Exchange Commission (SEC) that the firm misled investors about its anti-money laundering/countering the financing of terrorism (AML/CFT) policies and allowed a sanctioned Russian oligarch to invest.
Navy Capital told investors it abided by strict AML/CFT due diligence policies despite actual due diligence practices being materially inconsistent with its representations, the SEC alleged in an order Tuesday.
