The Securities and Exchange Commission announced October 1, 2026 that it charged Thomas J. Moore, III, of D’Iberville, Mississippi, with misappropriating about $1.94 million from about 20 individuals in connection with a medical marijuana business he primarily owned and controlled. The complaint was filed September 30 in the Southern District of Mississippi.
According to the SEC, between at least December 2021 and August 2024 Moore raised about $4.94 million from investors who bought equity interests in Mississippi Green Oil, LLC, a Prentiss, Mississippi company he set up around December 2020. He told investors the money would develop the business. The SEC says he spent about $1.94 million on personal expenses unrelated to the company, including jewelry and travel.
The complaint also alleges Moore promised short-term profit distributions but paid none, and did not disclose related lawsuits by other investors alleging that principal was not returned and promised distributions were not paid. He is charged under Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act. The SEC seeks injunctions, disgorgement with interest and a civil penalty.