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WHAT DID FORMER EAZE CEO JIM PATTERSON PLEAD GUILTY TO?

Over at Green Market Report, Artery Pay executive Ashley Elsner dives into the case which led former Eaze CEO Jim Patterson to plead guilty to federal bank fraud, “in connection with credit card processing for cannabis products on the Eaze platform.”

  • Two associates of Patterson are currently on trial for related charges.
  • Elsner argues that cannabis businesses need to care since participating in a state-legal enterprise does not excuse companies from following the law, “Cannabis protections from federal prosecution do not extend to other crimes.”
  • She also explains how to avoid getting into trouble.
  • Eaze has not been charged, denies wrongdoing and says it cooperated with authorities.

Read the whole thing.

Separately, a federal judge in Oregon threw out a lawsuit against Eaze and a subsidiary, related to payments for billboard ads. (Paywall)
Law360