We are investigating Alexandra Bovee, aka Alexandria Montgomery and Aia Montgomery, who participated in a marijuana investment Ponzi. The former Edward Jones broker in Sumter, South Carolina accepted a securities industry bar rather than participate in the Financial Industry Regulatory Authority (FINRA) investigation into her alleged work for a cannabis growing company.
We are a firm representing investors and pursuing cases against securities brokerages.
Bovee declined to provide testimony when given the opportunity in FINRA’s investigation of whether she had “violated FINRA rules or federal securities laws” in connection with sales of securities issued by Integrated National Resources (INR), according to a FINRA Advice Waiver and Consent filing of settlement finalized on Wednesday. In that position she received inappropriate commissions totaling $715,000. Her refusal triggered the automatic bar under FINRA Rule 8210, according to the FINRA AWC filing.
Bovee resigned from Edward Jones in December 2022, according to the regulatory AWC. She had initially worked as a financial advisor (stockbroker) but was serving as a branch office administrator at the time of her resignation, according to a person familiar with the matter.
We allege that Edward Jones failed to appropriately supervise Bovee. Securities broker-dealers, like Edward Jones, has a duty to supervise inexperienced advisors, and investment actions advisors make away from the firm. Bovee had been a student and managed a Mexican restaurant in Las Vegas prior to starting at Edward Jones in 2019, according to BrokerCheck. Shortly thereafter, in 2022, Bovee started her inappropriate relationship of investing clients in INR.
INR, also known as WeedGenics, was shut down and all assets were frozen in mid-2023 following the initiation of the SEC’s legal action against the company. The company, which launched in 2019, purported to raise investor funds to develop and expand cannabis cultivation facilities in California and Nevada and had raised approximately $61.7 million from approximately 350 investors, according to the SEC’s complaint in a federal court in Santa Ana, California.
Some investors of the INR marijuana investment Ponzi have recourse.