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Inside Cannabis

Inside Cannabis (Mar 14th, 2017)

The marijuana industry's first unicorn turned out to be a fraud. Marijuana vending machine company Medbox appeared to be on the rise. The company, which sold $50,000 cannabis vending machines, was publicly traded and reportedly worth $3 million. Now the SEC is claiming that nearly 90 percent of the company's revenue reported in the first quarter of 2014 was actually false. The company's founder, Vincent Mehdizadeh, agreed to settle the SEC charges and pay over $12 million in disgorgement and penalties. – FORTUNE

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The Trump administration's purge of U.S. attorneys could spell trouble for the marijuana industry. Attorney General Jeff Sessions fired 46 local attorneys appointed by Obama, with only two surviving the overhaul. Every state where adult-use or medical marijuana is legal, a new federal prosecutor is coming to town. These new appointees will be chosen by Sessions, and many in the industry fear they will share his disdain for the substance. – HIGH TIMES

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A Republican senator is the latest high profile endorser of the effort to reschedule marijuana. Sen. Johnny Isakson of Georgia said weed is "miscalculated in the schedule" of the Controlled Substances Act, where it is currently classified as Schedule 1, the most restrictive category reserved for substances with no medical value and a high potential for abuse. Last month, a Republican-sponsored bill became the latest in a long line of attempts to reschedule the drug, but so far Isakson has not added his name as a cosponsor. – MASS ROOTS

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A new study suggests that the use of marijuana may put you at a higher risk of stroke and heart failure. The study was conducted by Einstein Medical Center in Philadelphia and analyzed millions of U.S. medical records. The findings add to a number of conflicting studies about the safety of cannabis use. While the researchers couldn't prove cause-and-effect, the study still found a higher rate of both stroke and heart failure in marijuana users even when correcting for known risk factors.  – CBS NEWS

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