$145,000 in Cannabis Cash Stolen From Unmarked Van. Can We Pass Banking Reform Now?

The cash-heavy nature of cannabis has very few upsides. It invites inefficiency and crime. And last week, it cost the government cannabis tax revenue. 

“A man stole $145,000 in cash from a marijuana money courier’s unmarked van at a Santa Ana gas station after the driver collected the proceeds from several dispensaries, authorities said Friday," the Los Angeles Times reports.

Santa Ana police released video footage of the theft, which occurred when the driver got out of the van to walk into a gas station. The thief smashed the passenger window open and removed the cash from inside before driving away in his vehicle. Authorities say they do not believe the courier had anything to do with the crime.

Many dispensaries operate in nearly all cash environments because of banks’ reluctance to do business with an industry that is still illegal under federal law.


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Monday, July 13, 2020 - 07:07

The California Department of Tax and Fee Administration (CDTFA) has served tax warrants on a dozen illicit cannabis businesses operating illegally in Southern California.