07/09/2014
Should Business Try to Capitalize on the Ma*****na Industry?
At least 20 states and the District of Columbia have legalized the growing, processing, transportation, sale, and use of ma*****na for medical purposes. Two states, Colorado and Washington, have even legalized pot for recreational and personal use. The Department of Justice is contemplating an end to prosecution of certain ma*****na crimes. So, should enterprising business people jump on the bandwagon and try to make a buck? I mean you could be a Landlord, a Lender, a Lawyer, an Accountant, an Expert on farming and / or distribution systems and make a buck legally, right?
Well , there is at least one problem --- It’s still illegal.
Ma*****na is a Schedule 1 drug, and possession, sale, and distribution are all still federal crimes. Because possession, sale and distribution are still illegal, conspiring with or aiding and abetting someone who possesses, sells or distributes ma*****na is a crime under federal law. So, if you are a business professional wanting to assist growers and retail sellers, by being their Accountant, Lawyer, Lender, Tenant , Landlords, or being one of those that would invent and manufacture technology associated with pot production, distribution or usage then you should be very aware.
Some eager and aggressive prosecutor may charge you with conspiring, aiding, or abetting your customers in possessing, distributing or selling ma*****na. Why you might even be charged with committing a federal crime of conspiracy.
Until the US Congress decriminalizes ma*****na use or distribution under federal law, lawyers, CPA's, other professionals and Business people considering assisting clients that are or want to be involved in the growing ma*****na industry need to look carefully at both local and federal laws plus their licensing requirements and exactly what they are being asked to do.