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Story time: A former coworker's brother got hired in Colorado as a dispensary's first CFO. He soon discovered that employees were making cash pickups every day
by chiph 3y ago
Story time: A former coworker's brother got hired in Colorado as a dispensary's first CFO. He soon discovered that employees were making cash pickups every day from their locations using their personal cars - which isn't good for the personal safety of the employees, and way too tempting for theft by the employees. He called a couple of armored car companies - none of which wanted his business. They were concerned over the possibility of mingling his cash with that of other businesses, and the banks (who were their main customers) objecting. Banks, being federally regulated, are not allowed to take deposits from cannabis businesses, even accidentally.
So he started a subsidiary armored car business that only served the cannabis market.
- Scubabear68 3y agoOne of the banks I have worked with have done something similar, they are targeting cannabis businesses entirely through a dedicated subsidiary that is firewalled from the rest of the organization.
- CameronNemo 3y agoSo he started a subsidiary armored car business that only served the cannabis market. Which promptly went bankrupt when he got repeatedly robbed by the San Bernardino Sheriff's Department. https://abc7.com/fbi-san-bernardino-county-sheriffs-department-new-lawsuit-marijuana-dispensaries/11530204/ https://abc7.com/fbi-san-bernardino-county-sheriffs-departme...