Who Owns It?
- Want a stake in the medical marijuana business but missed out on getting a coveted state license? You might not be too late.
Weed businesses that scored licenses to grow in Illinois are looking for investors.
But if the chance to get in on the ground floor of what’s already a $2.7 billion industry in the United States sounds too good to be true, insiders say the tiny number of patients so far permitted to use marijuana in Illinois is causing them sleepless nights.
They’re looking for tens of millions of dollars in financing to build marijuana farms — and to keep running while hoping the state will loosen its restrictions on who can use the drug.
The continuing search for investors means that, despite the background checks that were required in the lengthy and costly license-review process designed to weed out organized crime and other undesirables, it’s still not clear who will end up owning many of Illinois’ medical marijuana businesses.
We're pretty sure the owners will be connected. And among the connected will be one or more Organized Crime types who appear in the Chicago Crime Commission book in some form. The Outfit has to get their slice.
Labels: scandals
posted by SCC at 12:31 AM
22 Comments:
No reason a far sighted police union should not be one of those investors.
Very connected. Go out of IL if you want a chance
Ask Peter Silvestri if he knows any owners?
The clouted and connected (Daley et al) ARE Organized Crime. Just a different wing of the Outfit.
If it is a good investment, the peasants are the last ones to hear about it.
If I could brew my own beer (good)I would. I am just not motivated. There are plenty of motivated pot heads that will just grow their own.
It is one of the more creative ways to obtain revenue.
sO OUR PENSION FUNDS HAVE NO CHANCE OF BEING INVESTORS?
Rahm and Rauners wine buddies scoop up all the great money making scams but all the city pension funds are soaked dry.
Lol - one potential owner is none other than Jon Loevy, whose clients have included convicted killers and self-admitted gang bangers and drug dealers. See this link, one of many.
http://chicago.suntimes.com/chicago-politics/7/71/213997/would-be-marijuana-farmers-pledge-half-of-earnings-to-education
Believe Loevy's group missed out on first round but are still in running. No ties to criminal elements there....
You guys are so naive to think that anybody in the crime commission book which is outdated would have the politician connections or tens of millions of dollars. Let it go already the only organized crime out there now is politicians, the reverends and what's left of HDO. The old timers in what your considering organized crime would have trouble getting a parking ticket fixed.
Only 1600 people cleared to buy it in the entire state. Not a good investment if u ask me.
Do people in the marijuana business have to pass drug tests?
Gene Karcezski aka "Wacky" will be more than willing to point out the OC connections.
Some character who hit big on marketing permits here is already "processing money from Colorado pot retailers" in some joint up on Elston Avenue. Was in paper not long ago.
No explanation -- why does cash have to be trucked to Chicago to be "processed? Don't they have banks in Colorado?
Stinks, huh?
There are plenty of motivated pot heads that will just grow their own.
3/08/2015 08:22:00 AM
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"...motivated pot head"
hahhahahaha good one
Even a downstate Illinois police chief wants a cannabis license:
http://www.pjstar.com/article/20140919/News/140918989
Anything for a dollar.
One of the biggest license winners, GTI, hired Terry Gainer as their security head, and hired Hillard Heintze to do their security plan. Just to make sure they had enough clout, they also had Mike McClain (former IL House Majority Leader and Mike Madigan pal) as a lobbyist. Another license winner is affiliated with a former director of the IL Department of Agriculture, the same agency evaluating the license applications.
Funny how the department put out a Special Order forbidding coppers to work off-duty for any business related to cannabis. But I'm sure the politicians will all have their hands in the cookie jar getting richer!
Here it is --
http://www.chicagotribune.com/suburbs/oak-park/news/ct-oak-marijuana-tl-0212-20150203-story.html
Feb. 3, 2015 --
"State officials have awarded a business license to a medical marijuana dispensary planned for the corner of North and Harlem avenues in Oak Park.
"Future Transactions Holdings, LLC won the sole license to operate a marijuana dispensary in Oak Park, River Forest, Berwyn, Cicero and Riverside. It will be one of the state's 60 dispensaries under the four-year pilot program.
"The dispensary's tentative name is "District 36," named after the Illinois State Police district it's located within.
"Its owner is Chicagoan Brad Zerman. He's also the CEO of Sky Processing, an ATM processing service company located at 3360 N. Elston Ave. in Chicago, which already processes cash for marijuana dispensaries in Colorado."
So what is this "processing?" No banks in Colorado?
Sounds like this place needs a real good set of bollards out front...
"Wacky Gene's" Maxwell Street wig will be going round and round again chasing so-called organized crime figures!
@0611 on 3/9
The problem with "no banking" is that despite it being legal at the state level, there's fear about banks seizing deposits made because of federal laws regarding marijuana. After all, the IRS will find a way to fuck you even if you pay your taxes (it happens.) So middlemen get involved and take a percentage to make it legit.
As for "legal" weed in Illinois, you know none of us without our hand in a politician's pocket will ever get a fair shake. Clout, bitches!
"So middlemen get involved and take a percentage to make it legit."
3/09/2015 11:32:00 AM
Yeah, you are probably safer banking with your Gypsy King than with JP Morgan Chase.
Just saw a tarp tied over a bank sign -- overnight the joint is called "Byline Bank."
I love this stable, reliable economy.
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