Man accused of forgery to inflate value of his business

JEFFERSON CITY, Mo. (KMIZ)

A man who owned a marijuana business was charged on Tuesday with forging documents and other felonies.

Kelly Waggoner, of Peculiar, Missouri, was charged with forgery, filing false documents and identity theft. A criminal summons was issued and an initial court appearance was set for 9 a.m. Wednesday, July 17.

According to the probable cause statement filed by the Missouri State Highway Patrol, Waggoner was the founder and CEO of Red Tractor Cultivation. He allegedly submitted documents with signatures from past investor documents to the Missouri Department of Health and Senior Services. He allegedly reused those documents without the investor’s consent in an attempt to comply with DHSS regulations.

The value of the business was increased because of the action, court documents say. Waggoner then allegedly sold the business’ marijuana licenses to an investor from St. Louis and did not disclose the sale of the business to investors or the DHSS, according to court documents.

Waggoner allegedly raised capital from investors by selling convertible notes, court documents say. Some of the funds were allegedly then spent on an SUV, personal items and legal fees for Waggoner.