California Eases Asset Forfeiture Risks for Cannabis Businesses
Asset forfeiture is a serious concern for cannabis businesses across the United States. The government has the authority to seize assets involved in the manufacture, importation, sale, or distribution of a controlled substance, such as marijuana, and in the past decades it has not shied away from using this power. What’s more, property seized by the government under suspicion of criminal activity does not have to be returned even if a conviction is never obtained. For cannabis business owners, this can mean losing their homes and cars. But even investors and landlords involved in cannabis businesses are subject to risk. For investors, they risk seizure of any investments or loans made to the cannabis business. And landlords leasing to cannabis businesses are at risk of having their property seized.
Recently, however, certain events have signaled a possible shift in asset forfeiture cases. The federal government dropped its asset forfeiture case against Harborside Health...
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