Company immediately terminated relationship with man accused of financial crimes.
LAKE WORTH, Fla.–(BUSINESS WIRE)–Green Life Farms, the leading controlled-environment agriculture grower in the Southeast U.S., has terminated its relationship with Raymond Pirrello Jr. following his indictment for investment fraud.
Green Life Farms fully and completely cooperated with the investigation of Mr. Pirrello and will continue to provide any support requested by the Securities and Exchange Commission or other agencies. Green Life Farms had no knowledge of, involvement in, or benefit received from the activities of which Mr. Pirrello is accused and is deeply troubled by the charges. At various points in the company’s history, Green Life Farms sold portions of its stock to several investment funds to support ongoing operations and to fund facility growth, as is typical for many small businesses at this stage of growth. These transactions followed all regulatory rules; if and when re-sale of its stock by third parties occurred, Green Life Farms did not participate in those sales.
Although self-described as a “founder” of the company, that is an inaccurate and inflated description of Mr. Pirrello’s role. Mr. Pirrello served in a Public Relations capacity for Green Life Farms and assisted with the company’s marketing and investor relations efforts. At no time was he involved with the company’s accounting or finance departments, nor was he a member of the company’s leadership team.
The company is conducting an independent investigation of Mr. Pirrello’s activities and will pursue all legal remedies should it become evident that Mr. Pirrello abused his position with Green Life Farms for his own personal profit.
About Green Life Farms
Green Life Farms operates state-of-the-art hydroponic greenhouses in Lake Worth and Punta Gorda, Florida. Another 11 additional facilities are currently in construction or development, for a total of 5.2 million square feet of greenhouses planned. By incorporating agriculture with technology and focusing on food safety and local delivery, Green Life Farms provides consumers with fresh, tasty, and clean greens that are good for their bodies, families, communities, and planet. For more information about Green Life Farms, visit GreenLifeFarms.ag.
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