Michael Llamas, the controversial former CEO of hemp products maker Medical Marijana, Inc. (MMI) has died in a car crash in California. Llamas, 33, crashed his 2016 Lamborghini in downtown San Diego in the early hours of Sunday, Nov. 5.
Traded as a penny stock, MMI is a network sales and marketing company that deals in hemp-based botanical products under brands such as Kannaway, Real Scientific (RSHO), and Cibaderm.
Llamas stepped down from MMI in 2012 after he was indicted for his role in a mortgage fraud scheme that cost lenders and other victims more than $10 million, according to prosecutors. He had recently pleaded guilty in that case.
Llamas had permission to travel abroad on business before his sentencing, and Michael Pancer, his attorney, told the Los Angeles Times he thought the former MMI CEO was out of the country at the time of the crash.