The New York Daily News is reporting that two years ago, Shane McMahon invested $500,000 in a Connecticut-based firm EnviroGrow, which sells pre-fabricated modules for growing marijuana where the drug is legal for medical or recreational use.
“He thought it was going to be a big boom and make a lot of money,” said a source with knowledge of the company.
The news of Shane’s involvement came about after he filed a lawsuit against the company’s owner, accusing him of duping him about the state of the company. Shane demanded his investment back after he traveled to the company headquarters to see the progress but found pretty much nothing going on anymore.
McMahon said that he demanded the return of his investment, but the owner refused. The lawsuit is ongoing.
When the NY Daily News contacted the Small Business Administration – which is headed up by his mother Linda – for comments about her view of her son’s investment or the legalization of marijuana in general, there was no response. The SBA does not give money to companies who invest in growing weed.