A marijuana development firm is promising to make big investments in Indian Country with the help of a prominent tribal citizen.
President Leslie Bocskor of Electrum Partners
told CNNMoney that he will start with $25 million to $50 million. In three years, he hopes to invest up to $300 million in deals with tribes.
"This is going to be bigger than bingo," James "Jim" Billie, a former chairman of the Seminole Tribe
who is working with Bocskor, told CNNMoney.
Very few tribes have joined the marijuana industry due to uncertainties in state and federal enforcement. But it could prove to be lucrative if tribes are able to develop their own regulatory and taxation systems without interference from states.
During the Obama administration, the Department of Justice
policy statement that seemingly opened the door to marijuana in Indian Country.
The Trump administration has not rescinded the memo but Attorney General Jeff
does not support legalization of the drug.
Read More on the Story:
Former Seminole chief to help other tribes grow legal weed
Department of Justice Document:Policy
Statement Regarding Marijuana Issues in Indian Country
chairman of Seminole Tribe launches marijuana venture
(June 7, 2017)
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