Business Community Law Local Money News State

California Sheriff will stop stealing cannabis cash from armored cars, halt highway robbery

Empyreal Logistics, a Pennsylvania-based company that transports cash from state-licensed marijuana businesses, reached a settlement with the San Bernardino County, California Sheriff’s Department, which had seized more than $1 million from its armored cars.

Because cannabis companies do not have access to banking and financial systems, they are forced to have their days’ intake of cash hauled off to safe storage by transport companies in armored vehicles.

Eager Sheriff And Reverse Highway Heist

San Bernardino County Sheriff-Coroner Shannon Dicus, for reasons best known to himself, ordered Empyreal’s vans to be stopped and, well, robbed right on the spot on three occasions, making off with a total of $1.1 million, reported Reason.com.

Money earned by state-licensed cannabis businesses is not subject to forfeiture under California law. Dicus, obviously a smart cookie, transferred the cash to the FBI, apparently seeking federal “adoption” of the seizures, which would have allowed his department to claim up to 80 percent of the money under the Justice Department’s “equitable sharing” program.

To Read The Rest Of This Article By Maureen Meehan on Benzinga

Published: May 09, 2022

SHARE
RELATED POSTS
Senator Wiener introduces legislation to create tax credit for commerical cannabis retailers
image 2019 08 07 ma designer491 1
Cronos Group Picks Up Lord Jones CBD Brand in $300M Deal
120638 full
Two More Illegal L.A. Dispensaries Shut Down by Officials

Leave Your Reply

*