Fresh blow for Anthony Joshua as cannabis firm is fined £100,000

Economy
By Liam

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Fresh blow for boxer Anthony Joshua as cannabis firm he backs is fined £100,000 and sees trading suspended

By Daily Mail City & Finance Reporter

Published: 22:22 BST, 25 August 2022 | Updated: 22:22 BST, 25 August 2022

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Anthony Joshua was dealt another blow after his defeat to Oleksandr Usyk in Saturday’s world heavyweight title fight.

A cannabis company the boxer backs was fined £100,000 yesterday and saw trading in its shares suspended. 

Joshua, 32, is a shareholder in Love Hemp, which specialises in cannabis oils that can help athletes recover from injuries.

Fine: Anthony Joshua (pictured in his rematch against Oleksandr Usyk) is a shareholder in Love Hemp

Fine: Anthony Joshua (pictured in his rematch against Oleksandr Usyk) is a shareholder in Love Hemp

But the firm is in hot water over a £2million fundraising that took place in February as some investors who took part failed to cough up the money. 

One of the investors who pledged £1.2million did not produce the funds but Love Hemp failed to inform its shareholders and the markets until May 3.

Stock exchange Acquis, where Love Hemp shares trade, fined the firm £100,000 after an investigation and it has now been delisted.

Graham Mullis, chairman of Love Hemp, said: ‘I am pleased the company has been able to resolve the situation with Acquis.’ 

It tops off a tough few days for Joshua who lost his rematch with Ukrainian Usyk in Saudi Arabia.

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