Search Results: money (995)

Ray Stern | Toke of the Town

Chris Martin is a medical-marijuana pioneer. He’s also a biker, ex-con, and father of five — a nice guy with a rough side, lots of tattoos, and a head full of business ideas. He got out of prison in February after serving a two-year sentence on a weapons violation related to a 2012 raid on his first medical-marijuana company, Zonka.

His Zonka chocolate bars and other edibles became popular for a while not long after Arizona voters passed the 2010 medical-marijuana law. But this was before state-authorized dispensaries; Martin sold the infused candy to unauthorized compassion clubs. Police raided the clubs and Martin’s home, finding guns (he says they belonged to his older sons) that he shouldn’t have had in the house because of a past felony conviction.

Now Martin, his family, and friends are back in the medical-marijuana business. And this time, they may have struck gold — or, rather, struck oil. CBD oil. Read Phoenix New Times in-depth article on the new oil boom.

Courtesy of the St. Francis Center

Colorado Governor John Hickenlooper and his staff visited the future St. Francis Center refuge in Capitol Hill earlier this week, highlighting the state’s effort to help fight homelessness with cannabis tax revenue. The state donated $250,000 to close funding gaps to complete the construction of the center at 1400 Washington Street, but that’s just a parcel of the pot tax dollars that the Colorado Department of Local Affairs is using to help the state’s homeless.

Marijuana is sold for both medical and recreational purposes in Colorado, but it’s definitely not sold at the same prices for both purposes. Not only is the cost of flower, concentrates and edibles cheaper for medical patients, but the taxes on those purchases are around 25 percent lower.

After paying a doctor’s consulting fee – usually anywhere from $60 to $100 – and the Colorado Medical Marijuana Registry application fee of $15, state medical marijuana patients are in the hole for a decent chunk of change. But buying enough medication can make up for the initial cost outlay.

The first time I wrote about pre-rolled joints, I labeled them the hot dogs of the cannabis industry: “Cheap to make, easy to consume and extremely convenient – but do you really want to know what’s inside?” Most of the time, you don’t.

Over the past few months, though, shops have started to carry more pre-rolls — not from their own grows, but from wholesale companies dedicated to joints and little else. They may be more expensive than what you’re used to, but at least they’re full of whole flower and not leaves and snickelfritz buds.

Are they worth the money? I smoked them all to find out.

Candace doesn’t particularly like sleeping outside, whether in the heat of the summer or the frigid winter. But as one of Aurora’s estimated 500 individuals experiencing homelessness, she doesn’t have much of a choice. The city’s only homeless shelter requires that its guests leave early in the morning, and after a bad night’s sleep in the crowded space, Candace is forced to sleep wherever she can outside.

And if it isn’t private property owners or Aurora police officers interrupting her sleep, it’s the raccoons.

Colorado has been a 4/20 destination for more than a decade, and the allure of tax dollars helped spur a legalization movement that now brings tens of millions of consumer dollars into the state every April.

Data from the Colorado Department of Revenue shows that Colorado made $2.49 million from the state’s 2.9 percent marijuana sales tax in March 2016. (That includes medical and recreational dispensaries and doesn’t count the 10 percent retail marijuana tax and other local taxes specific to cities and counties.) In May 2016, Colorado made $2.76 million from the same tax. But in April 2016, that tax total was significantly higher than in the preceding and following months: $3.29 million. Dispensary sales aren’t just rising in April; they’re rising annually, at an extremely fast rate.

Evan Amos/Commons.


A joint effort by the U.S. Attorney Office of South Florida, the Miami Police Department, and the Bureau of Alcohol, Tobacco, Firearms and Explosives resulted this week in the arrest of 21 members of a gang known as the Big Money Team.
The gang operated in the Little Havana and Allapatah neighborhoods and had their hands in everything from guns, crack cocaine, Molly, marijuana, and prostitution to armed robberies, assaults, car jackings, and intimidating locals. And yes, they had some sweet nicknames.

U.S. Attorney’s Office.


Federal raids on downtown Los Angeles Fashion District businesses and related bank accounts turned up a whopping $65 million, much of it in cash, that authorities say was drug money headed to the Sinaloa drug cartel in Mexico, the U.S. Attorney’s Office in L.A. announced today.
The whopping seizure of bank funds and currency, the latter of which was put on display for the press, was part of three cases against various fashion businesses, including lingerie and maternity concerns, that investigators say took drug money and exchanged it for imported goods so that the money would seem legit as it traveled south to the narco lords of Sinaloa. More over at the LA Weekly.


Ever since the legitimized cannabis commerce became a reality in the United States, pot peddlers and other weed-slinging warriors in the medicinal and recreational sector have been challenged to track down lenders that do not have gnawing fear of being gang raped in a federal penitentiary to help finance their ventures. This is because traditional banking institutions have flat-out-refused to walk that fine line where the possibility exists that Uncle Sam could show up at their front door, label them money launderers, and then cart the president of the bank off to the nearest tattoo parlor to have a set of giant set of tits branded across his shoulders.
It is for this reason that unconventional lending services have become increasingly more attractive for ganjapreneurs scouring the planet for someone willing to give them a small business loan. And while the majority of these lenders typically market themselves as stiff collared elitists with a nubby chubby for dicey business deals, the newest lender to emerge on the scene pulls no punches regarding its intentions – it aims to profit by lending money to sleazy bastards all across the nation.


With a November ballot initiative teed up for medical marijuana, the camps working both sides of the issue are now deep in the trenches, trying to lure voters. Cold, hard cash is obviously powering the efforts, which begs the question: Where’s the money coming from?
In both camps, big-money donors are footing most of the bill. But in terms of the pro-pot movement, two main funders are being underwritten by thousands of contributors from across the state — moms and pops and potheads opening their wallets for $50 and $100 donations.

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