No Avoiding $100M Pot Credit Card Fraud Case, Gov't Says

Law360 (July 15, 2020, 7:34 PM EDT) -- Prosecutors pushed back on a bid by a pair of businessmen to toss an indictment charging them with running a $100 million fraud scheme involving payments for marijuana at dispensaries, arguing Wednesday in New York federal court that the charges are specific enough to go forward.

Ruben Weigand and Hamid "Ray" Akhavan are charged with conspiracy to commit bank fraud over allegations they created a web of fake companies to trick banks into processing credit and debit payments for marijuana products from legal sellers. The pair have asked a federal judge to dismiss the indictment, arguing it doesn't show any bank,...

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