xtsho
Well-Known Member
Just more proof how sleazy the cannabis industry has become since legalization has opened the door for a stampede of sleazebags and why I refuse to buy anything cannabis specific other than seeds. The industry has been hijacked by slick salesmen and con men. It's pretty disgusting. But with all the money at stake it's no surprise. So bend over and open your wallet if you're so inclined. I'm not.
www.oregonlive.com
Cura Cannabis finally completes sale at sharply reduced price following layoffs, record fine and fresh customer lawsuit
Cura had been under investigation by Oregon regulators for inaccurately claiming its flagship Select Elite products were 100% marijuana. The company settled the case Thursday, paying a record $100,000 penalty for not acknowledging additives in its products and an additional $10,000 for “dishonest conduct.”
Cura’s initial funding was diverted from Oregon retirees who had invested in a real estate investment firm called Iris Capital Partners. That company’s founder is serving a three-year prison sentence in Georgia, but several dozen Oregon retirees collectively lost about $1 million – and will recover none of that through Cura’s sale.
In 2019, Cura hired a new president – a man named Nick Sarnicola, who previously ran a business called ViSalus that sold protein powder for weight loss. Sarnicola and ViSalus had settled a string of lawsuits alleging they operated a pyramid scheme.

Cura Cannabis finally completes sale at sharply reduced price following layoffs, record fine and fresh customer lawsuit
Massachusetts-based Curaleaf agreed to pay nearly $1 billion in May for Portland-based Cura Cannabis. After a series of setbacks at both companies, though, the price at closing ended up around $400 million.
Cura Cannabis finally completes sale at sharply reduced price following layoffs, record fine and fresh customer lawsuit
Cura had been under investigation by Oregon regulators for inaccurately claiming its flagship Select Elite products were 100% marijuana. The company settled the case Thursday, paying a record $100,000 penalty for not acknowledging additives in its products and an additional $10,000 for “dishonest conduct.”
Cura’s initial funding was diverted from Oregon retirees who had invested in a real estate investment firm called Iris Capital Partners. That company’s founder is serving a three-year prison sentence in Georgia, but several dozen Oregon retirees collectively lost about $1 million – and will recover none of that through Cura’s sale.
In 2019, Cura hired a new president – a man named Nick Sarnicola, who previously ran a business called ViSalus that sold protein powder for weight loss. Sarnicola and ViSalus had settled a string of lawsuits alleging they operated a pyramid scheme.