1-833-663-7284 (Customer Support Available 24/7)
After a dramatic series of events, the state of New Jersey has officially passed recreational cannabis legislation. James Patterson, the former CEO of the cannabis delivery platform Eaze has admitted guilt in a conspiracy to commit bank fraud. And five-time NBA All-Star Chris Webber has made a mission to help minority entrepreneurs succeed in the cannabis industry
New Jersey has FINALLY officialized recreational cannabis use legislation
The former CEO of Eaze has pled guilty to bank fraud
This is Lo with Veriheal keeping you up to date with the latest in cannabis news
James Patterson, the former CEO of the cannabis delivery platform Eaze has pled guilty to conspiracy to commit bank fraud in a money-laundering scheme that duped banks into thinking they were processing non-cannabis related products
Between 2016-2019, over $100 million dollars worth of payments were disguised to avoid the many banking restrictions placed on the cannabis industry
Patterson was said to have “understood that if banks were aware of the nature of the transactions they would not allow them,”
So, payments were processed for various products such as dog toys, beverages and facial creams instead of cannabis.
He resigned from Eaze in 2019 and the company is currently cooperating with federal authorities
Next in news,
After several months of negotiations, New Jersey Governor Phil Murphy has finally signed legislation for recreational cannabis use
Voters approved adult-use cannabis 3 months ago but the state hit a snag in the legalization process over disagreements on penalties for underage use.
Gov Murphy stated that “This November, New Jerseyans voted overwhelmingly in support of creating a well-regulated adult-use cannabis market. Although this process has taken longer than anticipated, I believe it is ending in the right place and will ultimately serve as a national model.”
The new bill establishes a Cannabis Regulatory Commission that will oversee the state’s industry, removes penalties for possession, and allows adults 21 years and older to consume.
Unfortunately, the bill does NOT allow for at-home cultivation
Applications for recreational business licenses are expected to open this summer when the Regulatory Commission’s official framework is developed.
In the meantime, the only way to legally purchase cannabis in the state is with an active medical card
And lastly,
five-time NBA All-Star Chris Webber teamed up with JW Asset Management to start a $100 million fund to help minority entrepreneurs succeed in the cannabis industry
It’s no secret that getting into the legal cannabis sector is incredibly expensive
Laws differ across the nation, but deposits and application fees soar into the several hundreds of thousands of dollars with much of that being non-refundable
So this leaves a very small group of eligible applicants that actually succeed
Meanwhile, the War on Drugs has done its part to ensure that marginalized communities stay under its thumb unfairly leaving many unable to invest in a growing industry that crucially undermined them to begin with.
Webber emphasized that it’s not just about money, but fostering relationships and cannabis industry education that all sides can benefit from.
So, go ahead and like this video and give us a follow at Veriheal to stay up to date with the latest in cannabis news. Thanks for watching!
Who/How do I get in touch with a rep from JW Asset to take advantage of the minority entrepreneurship initiative? I am a candidate in NJ for a license application. Thank you.
Please visit their website https://jwfunds.com/ and fill out their contact form 🙂
I’m wanting to try to open a cannabis shop in Oklahoma, how do i start
A cannabis compound that has been described as “cutting-edge” and “so elusive, laboratories often misidentify the compound as CBC (cannabichromene) or CBL (cannabicyclol)” is finally becoming better understood. Delta-10-tetrahydrocannabinol (delta-10 THC) is a need-to-know cannabinoid, and here’s why. What Is Delta-10 THC? Does Delta-10 Get You High? Is Delta-10 Safe? How Is Delta-10 Created? Is…
What are Moon Rocks? Hash Oil Kief How to Smoke Moon Rocks Step 1: Gather Supplies Step 2: Break It Up Step 3: Pack a Bowl Step 4: Use a Lighter or Hemp Wick Step 5: Inhale Slowly Who Should Consider Moon Rocks? Tips for Smoking Moon Rocks Talk to Your Doctor About Medical Cannabis…
Medical cannabis is legal in 37 states, including our nation’s capital, Washington, DC. Nineteen states have legalized recreational or adult-use cannabis. Just because medical cannabis and recreational cannabis are legal in so many places doesn’t mean that the programs are uniform across the country. There are many existing differences between medical cannabis programs from state…
It is well known that consuming cannabis causes most people to get something known as “the munchies,” or feelings of intense hunger. Put simply, this heightened appetite results from THC activating cannabinoid receptors in the body. In a rodent study, those dosed with THC demonstrated enhanced sensitivity to smells and increased appetite compared to those…
Whether you live apart from loved ones or simply want a breather from the drama and political debates, spending Thanksgiving alone can actually be a blast—and delicious too. If you’re worried about your lack of turkey-cooking skills, don’t be. All you need is a joint, a cozy holiday film, and a heaping pile of good…
Growing cannabis at home is increasing in popularity thanks to widespread cannabis legalization. Many people prefer to grow their own medicine rather…
Cannabis has been making waves as an effective botanical approach to therapeutics and medication, but there is another substance worthy of just…
Cannabis and nuns are two things that aren’t normally lumped together, but a group of Californian women is changing that. A nun…
