FCPA Blog Article: Legitimate cannabis investors face massive tax and legal headaches

FCPA Blog Article: Legitimate cannabis investors face massive tax and legal headaches

Author Martin Kenney Martin is Managing Partner of Martin Kenney & Co., Solicitors, a specialist investigative and asset recovery practice based in the BVI, focused on multi-jurisdictional fraud and grand corruption cases. In 2014 he was the recipient of the ACFE’s highest honor: the Cressey Award for life-time achievement in the detection and deterrence of fraud. In 2017, 2018 and 2019 he was chosen as a global elite “Thought Leader” by Who’s Who Legal and also selected as the number one offshore asset recovery lawyer worldwide over the same period. Martin Kenney November 15, 2019 Article After several states in the U.S. and Canada legalized cannabis and cannabis derivatives over the last few years, the legalized cannabis industry in North America has managed to attract investment from the UK. But it is the profits made by British investors from these speculations that could create some pressing problems. An excellent article by Angela Bilbow for Commercial Dispute Resolution (CDR) draws attention to the potential pitfalls of the fiscal elements of the investment and ongoing legitimization process around the cannabis industry. Globally, there is a never-ending cascade of information and research extolling the use of cannabis and its derivatives as a medical treatment for various illnesses…