Update, July 11 at 2:49 p.m.: We spoke with representatives from the Bakersfield PD who tell us they did not make a mistake. Seriously. The Sergeant we spoke with said that they valued the haul based on a price per-gram. Yes, they value all 3,067,192 grams at roughly $24 a pop. He said they don’t go by the bulk price, only the street price, and according to their research, they think $24 a gram is reasonable.
But the reality is that by doing that, they’ve completely blown any credibility they had left. Nobody is selling 3 million grams of pot by the gram. Nobody. Try as you may to sell even an ounce at that rate, and you’d go crazy. That’s why people (the majority) buy in bulk. Also, nobody in California is paying $25 a gram on the street. Nobody. These cops are just plain clueless about the things they are supposed to know about. A more reasonable figure would be $7.6 million, or just over $1,000 a pound. Even if it was top shelf, it wouldn’t get more than $3,500 a pound — meaning it would be worth $23.67 million at most.