Nevada Pot Co. Fined $1.25M, Dissolves After Discipline

Law360 (July 22, 2020, 10:07 PM EDT) -- A Nevada cannabis company will pay $1.25 million in fines, forfeit six of its licenses and dissolve following a settlement with the state's cannabis regulators over claims the company falsified records, ignored rules and failed to pay its taxes.

The Cannabis Compliance Board, Nevada's new cannabis regulator, signed off on the agreement with CWNevada LLC, which operated multiple recreational and medical dispensaries and grows, at its first ever meeting Tuesday. As part of the settlement, CWNevada has also agreed to sell the eight licenses it has remaining and pay $1.5 million in back taxes, according to the agreement. The company's ownership...

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