Recent changes in state cannabis legislation has resulted in yet another California gold rush. Creative investors have started pouring money into ‘legal’ grow operations. Federal lawmakers are rattling their sabers. Eager customers are crashing the ticket booth. News pundits sit in the grandstands with their beer and hot dogs cheering the opposing sides.
Money, marijuana, new tax opportunities…the Greenest Show On Earth is just getting started.
The winner is anyone’s guess!
Although the details of permits, legislation, taxation, and zoning are not yet finalized, one thing is certain. Everyone agrees that owners of legal cannabis operations should not be serious criminals, nor should they represent those that are involved in selling or manufacturing illicit drugs.
California has already drafted cannabis legislation, yet the word ‘felon’ rarely appears. The state appears to be more interested in taxation, THC levels, and money flow rather than the reputation of the people at the top who will control the product.
So how does one assure that the bad guys stay out of the legal cannabis market?
Vcheck Global, an industry leader in due diligence background checks, already works with commercial lenders that finance medicinal marijuana operations in Canada and other legal jurisdictions. Our research has uncovered irregularities such as criminals posing as distant ‘investors’ who have placed straw owners to do their bidding.
Determining the reputation and history of business owners is one of the crucial factors in a commercial lender’s decision. If a business is shut down or the owner is arrested and convicted, the ability to recoup the investment is significantly reduced. It’s all about risk management and protecting collateral.
Opportunities exist in the cannabis market, and Vcheck Global will help you recognize what’s behind the curtain of business management and expose the reputation of those in control.