Connect with us

Cannabis Law News

Oklahoma AG to Prosecute Attorney Accused of ‘Ghost Owner’ Medical Cannabis Scheme

Published

on


Ganjapreneur reports

The Oklahoma Attorney General’s office is taking over the prosecution of the attorney accused of helping set up illegal cannabis businesses under the state’s medical cannabis program, KFOR reports. Matt Stacy is facing 13 charges related to the scheme in which he is accused of assisting nearly 400 illegal grow operations as so-called “ghost owner.”  

Oklahoma Attorney General Gentner Drummond told KFOR that Stacy’s role was not just “enabling” but that the attorney is “culpable of the crimes that were committed by his clients.”  

“He was in a position of authority and power and influence. And those are the people that we need to make an example of perfect. … His impact on the state of Oklahoma is remarkable. He’s basically been the consigliere to almost 400 illegal grow operations, which covers multiple counties. He needs the full force of the law against him.” — Drummond to KFOR 

The Oklahoma Bar Association told KFOR that Stacy remains in “in good standing” with the organization but Lori Rasmussen, director of communications for the association, said, “It is always concerning when an Oklahoma licensed attorney is charged with a crime.” 

In a statement, Stacy’s attorney, Joe White, denied that his client had broken any of the state’s laws.  

“On behalf of our clients whose operations fall under the medical marijuana laws and regulations, our firm was in regular communication with the [Oklahoma Bureau of Narcotics and Dangerous Drugs] for three years discussing the agency’s ever-changing interpretations of the statutes and rules that must be met for OBNDD licensure,” the statement says. “We have been and will continue to be extremely transparent and adaptable based on our understanding of the law and current regulations, even when we are in fundamental disagreement with some aspects of the agency’s interpretation and implementation of the licensing requirements.”  

Read full story at 

https://www.ganjapreneur.com/oklahoma-ag-to-prosecute-attorney-accused-of-ghost-owner-medical-cannabis-scheme/?utm_source=newsletter&utm_medium=email&utm_campaign=hawaii_legalization_bill_advances_senators_vote_to_research_medical_cannabis_for_veterans_and_more&utm_term=2023-02-17



Source link

Continue Reading

Cannabis Law News

EWeb Page / SEC Docs – SEC Charges Acreage Holdings, Inc. For Accounting Violations

Published

on

By


ADMINISTRATIVE PROCEEDING
File No. 3-22389

January 10, 2025 – The Securities and Exchange Commission today announced settled charges against Acreage Holdings, Inc. for violating the books and records provision of the federal securities laws when it created false records regarding a transfer of approximately $4 million that was temporarily moved into the company’s bank account a few days before the end of Acreage’s 2019 fiscal year.

According to the SEC’s order, Acreage caused an affiliated entity to transfer approximately $4.2 million into Acreage’s bank account on December 26, 2019, with the express understanding that Acreage would return the full amount at the beginning of the new year, which it did on January 3, 2020.  Acreage then allegedly created journal entries and other records that mischaracterized the round-trip transfer, first as a repayment of debt owed by the affiliate and later as a short-term loan to Acreage.  The SEC’s order further finds that after certain employees’ concerns about the round-trip nature of the transaction were escalated to a member of Acreage’s board of directors, Acreage recorded an additional journal entry that effectively reversed the transaction.

The SEC’s order also finds that during the audit of Acreage’s fiscal year 2019 financial statements, Acreage created and provided written documents to the accounting firm conducting the audit that misrepresented and omitted material facts about the round-trip cash transfer.  As a result, the SEC’s order finds that Acreage violated Section 13(b)(2)(A) of the Securities Exchange Act of 1934 by failing to make and keep books, records, and accounts that accurately and fairly reflected the round-trip cash transfer.

Without admitting or denying the findings in the SEC’s order, Acreage agreed to cease and desist from committing or causing violations or future violations of Section 13(b)(2)(A), and to pay a civil penalty of $225,000.

The SEC’s investigation was conducted by Kiran Patel, Nandy Celamy, Russel Feldman and George N. Stepaniuk, and was supervised by Thomas P. Smith, Jr., all of the New York Regional Office.



Source link

Continue Reading

Cannabis Law News

Homberg Leaves Dentons For New Post At Gunnercooke

Published

on

By


Peter Homberg writes on Linked In Today

After more than 12 exciting years at Dentons, I’m delighted to share that I have joined the international law firm gunnercooke.

I’m excited to offer my clients truly exceptional service, leveraging gunnercooke’s flexibility, innovation, and collaborative culture to support them closely through their legal challenges, while also shaping and expanding my practice in a direction I’m passionate about.

I look forward to the many exciting projects and cases to come, please reach out if you’d like to know more.

 



Source link

Continue Reading

Cannabis Law News

Germany: The Conference of Ministers of Justice propose a resolution to amend the Cannabis Act, allowing authoriries to re-access surveillance for illegal cannabis growers and distributors

Published

on

By


German Cannabis Business Association

Conference of Justice Ministers calls for adjustments following partial legalization of cannabis

2024-11-21 | The Conference of Ministers of Justice (JuMiKo) will discuss a proposed resolution to amend the Cannabis Act on November 28, 2024. Berlin Senator for Justice Felor Badenberg criticizes the fact that important investigative instruments such as telecommunications surveillance, online searches and acoustic home surveillance for the fight against commercial cannabis trafficking have been restricted since the Consumer Cannabis Act (KCanG) came into force. In particular, the collection of traffic data and location data for cannabis-related offenses is now no longer permitted, which makes prosecution more difficult, LTO reports.

The JuMiKo is calling on the Federal Minister of Justice, Volker Wissing, to take this problem into account when evaluating the KCanG. Inadequate adaptation of the Code of Criminal Procedure could lead to ongoing investigations failing due to a lack of evidence. In one notable case, a dealer of around 450 kilograms of cannabis was acquitted because findings from the EncroChat software could not be used.



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media