Bruce W. Spinney III, former chair of the Grafton Select Board, has agreed to plead guilty in the federal case accusing him of misleading investors who put nearly $500,000 into two cannabis businesses.

Bruce W. Spinney III, former chair of the Grafton Select Board, has agreed to plead guilty in the federal case accusing him of misleading investors who put nearly $500,000 into two cannabis businesses. The case was filed in June 2024 in the District of Massachusetts,

Bruce W. Spinney III originally pleaded not guilty at his initial appearance in June 2024 following his federal indictment. [1, 2]

The case against him, officially cited as United States v. Spinney, III (4:24-cr-40016) in the U.S. District Court for the District of Massachusetts, charges the former Grafton Select Board chair with: [1]

• Three counts of wire fraud
• One count of conducting an unlawful monetary transaction [1]

Prosecutors allege that Spinney defrauded investors by soliciting nearly $500,000 for a new cannabis dispensary venture, Noble Manna, Inc.. Instead of using the funds for construction and licensing in Grafton and Mendon, he allegedly diverted the money to pay down outstanding debts, collections, and personal expenses for his struggling equipment and linen rental business, Spinney Enterprises. [1, 2, 3, 4]

If convicted or if a change-of-plea agreement is finalized, he faces a maximum statutory sentence of up to 20 years in prison for each wire fraud count and up to 10 years for the unlawful monetary transaction charge.

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Also read press release about indictment