By Thea DiGiammerino
A former Grafton, Massachusetts official, Bruce W. Spinney, III, 49, has been arrested on multiple fraud charges. Spinney faces accusations of defrauding investors in his marijuana business, Noble Manna, Inc., out of hundreds of thousands of dollars. Instead of using the funds as promised for setting up marijuana dispensaries in Grafton and Mendon, Spinney allegedly used the money to pay off personal debts from his previous business, Spinney Enterprises.
Spinney resigned as chair of the Grafton Select Board in August 2019 and subsequently sought investor funding for his new venture. However, prosecutors say that instead of adhering to his business plan, Spinney diverted the money for personal expenses, including debt payments and withdrawals.
The charges, which include three counts of wire fraud and one count of conducting an unlawful monetary transaction, carry severe penalties. Spinney faces up to 20 years in prison for each wire fraud charge, along with fines, and up to 10 years for the unlawful monetary transaction charge. He was arrested and appeared in federal court in Worcester on Friday, where he was released with conditions.
