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Fraud is a MAJOR problem in the cannabis industry.



Fraud is a MAJOR problem in the #cannabis industry. One area which really needs to be addressed is: Who really owns a cannabis business license?


Unfortunately, all too often, license "ownership" devolves into a murky cesspool of corporate-shell-game alchemy, through which "non-transferrable licenses" somehow change hands multiple times, miraculously without triggering any violations or corrective actions by the licensing authorities, who watch as meticulously scrutinized, and cautiously awarded licenses hop out of the hands of highly qualified applicants, to gangs of "NewCo" corporate pirates, bearing no resemblance whatsoever to the originally vetted and approved team (resumes, plans and commitments) that applied for and won the competitive license.


I've experienced these shenanigans first hand. It's shocking and incredibly frustrating.


However, when it comes to MEDICAL cannabis programs with limited licenses, those licenses represent much more than just an opportunity to make money. They come with a serious level of responsibility to the vulnerable patients of that particular state.


To allow them to be flipped to unvetted teams who didn't apply/compete for the license in the first place is an unethical bait and switch fraud on the patients of the state.


Read more here:


https://www.politico.com/news/2020/12/27/marijuana-legalization-corruption-450529


#cannabis #cannabisindustry #cannabisnews #cannabislicensing #newyork


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