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Investing in the Marijuana Business and Fraud

Investing in the Business of Marijuana and the Dangers of Fraud

The Baltimore Sun is reporting that several unscrupulous financiers are setting up fake stock scams that promise good returns on the business of medical marijuana and the legalization of marijuana.  In states that have set up regulations to legally sell marijuana either medical marijuana or for recreational purposes there has certainly been a boon to the local economies.  There are strong arguments, even in Maryland and Baltimore, to legalize pot and tax it.  I have seen the economic benefits of legalization in Denver, Colorado, where empty store fronts have been turned into shops and advertising money is flowing in promoting the sale of marijuana in newspaper ads and billboards.  But investors be warned.  If it sounds too good to be true it probably is.  The Law Office of David D. Nowak, LLC advises business start ups on the legality of setting up a pot shop.  I do not foresee any federally regulated industries or companies  opening their doors to sell marijuana as it remains illegal.  Additionally, an investor or business person would be wise to consult a marijuana business attorney prior to setting up their business or investing money in marijuana investments as the money could be seized as the fruit of an illegal industry.  Also, there are a wide variety of banking laws that must be considered.  Here is the article from the  Baltimore Sun:  http://touch.baltimoresun.com/#section/822/article/p2p-77099477/

Here is the website for a Maryland Lawyer:  www.davidnowaklaw.com

 

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Dr. Sanjay Gupta apologizes for criticizing medical marijuana in the past.

Medical Marijuan

Dr. Sanjay Gupta has apologized for his criticism of medical marijuana in the past, and has changed his tune regarding it’s medicinal benefits.  He also confirmed that marijuana does not have a high potential for addiction, just cigarettes or alcohols.  Maryland has passed a medicinal marijuana law, but it has not been implemented yet, and due to the wording of the law, no one should expect to use medicinal marijuana in the near future in Maryland.  Unfortunately, many players in the criminal justice system still believe marijuana is highly addictive.  I even had a drug court employee from Harford County Maryland tell me that there is no difference between marijuana , cocaine or heroin.   Hopefully, one day, that employee will look back and apologize for being wrong, just like Dr. Gupta.

http://www.cbsnews.com/8301-204_162-57597645/sanjay-gupta-backs-medical-marijuana-apologizes-for-previous-views/