By Joe Tilton
Both marijuana/cannabis use and CBD industries are running into proverbial brick walls in their effort to stuporize the nation with false health claims for financial gain.
Nationally known attorney Dave Evans, wrote this week: “We are having success because we are working to keep marijuana illegal on the federal level. This gives investors uncertainty and prevents marijuana companies from bankruptcy protection and from getting federal COVID loans and having access to banking. They are starting to fall apart because they cannot expand. Their investors are also suing them. A New York investors’ lawsuit alleges false medical claims for marijuana and for violations of the federal securities laws. Skibbe v. Curaleaf, 1:19-cv-04486-13 (ED N.Y. 2019)”
In what appears to be desperate attempt to win over even conservative citizens, advertising from talk-show hosts Rush Limbaugh and Sean Hannity continue ads promoting CBD oil while carefully avoiding medical claims. Even CBD is under fire from investors and government for making claims they know to be inaccurate.
In both cases, political corruption is well known, particularly in Washington, D.C. Former Speaker of the House John Boehner, a avid pot smoker, according to multiple sources, has been offered $20-million if he will get Congress to pass legislation taking marijuana off the Schedule 1 designation and open normal banking rules for pot producers and business.
A case in point is the 2018 opening of a marijuana business in California by a group known as MedMen. This group promoted themselves as the “Apple of the marijuana industry.” Investors poured in, along with Corey Booker’s girlfriend, Rosario Dawson. Congressman Ted Lieu was there to support opening of the business with founder Adam Bierman. A few months later their business began to unravel. Employees filed a class-action lawsuit, claiming labor-law violations. Investors sued the group, saying they were into self-dealing and underhanded tactics. Their chief financial officer filed a complaint in a Los Angeles court claiming stock-price manipulation, bank fraud and hiring private investigators to get “dirt” on enemies, plus making straw man contributions to a Nevada politician. Other crazy things include a “panic room” installation in Bierman’s home and pearl-colored Cadillac Escalades. Some eight-figure investments went up in smoke.
MedMen’s fall reverberates beyond stakeholders. Their promise of an “entire industry” has fallen apart. The product is still illegal according to the Federal Government, and traditional banking is impossible, making a patchwork of regulators by states necessary. Add to it all, huge and insane social costs needed to keep marijuana/cannabis victims alive while they are unemployable.
Efforts by groups like Smart Approaches to Marijuana (SAM) and Mom’s Strong plus Americans’ Against Legalized Marijuana (AALM) are paying off. Liberal-leaning politicians continue to sneak in pot-banking potentials, such as the new multi-trillion dollar bill authored by Nancy Pelosi. Boehner wants that $20-million payday, and is staying in D.C. to promote his cause instead of going home.
The battle is not over; still efforts to stem the tide are working. Stupid claims are now quiet about how “marijuana cures Covid-19” and proven to be the opposite by making one more susceptible to the virus, demonstrated by medical claims being challenged in court.
Aside from the Michigan initiative petition making “recreational” pot in Michigan legal, continue to remind legislators it’s still federally illegal and not for our families.