Tom Downey is a director and attorney at Ireland Stapleton Pryor & Pascoe, PC where he represents primarily liquor and marijuana businesses. Prior to that he led Denver’s Department of Excise and Licenses where he redrafted Denver’s policies and procedures for liquor licensing and wrote the original policies and procedures for Denver’s recreational marijuana licenses.
Despite being illegal under federal law, the marijuana industry is rapidly growing in many states around the country. As product and profits blossom, so do stockpiles of cash, because federal law prohibits banks from offering services to these “green” enterprises. Concerned that large amounts of cash will result in crime, legislators are supporting a new...
Despite being illegal under federal law nationwide, marijuana businesses in states like Colorado, Washington, and Oregon are growing rapidly. With varying degrees of state licensing, where does that leave growers and sellers criminally? Just because certain state governments are not enforcing drug laws doesn’t mean the federal government won’t. Adding to this confusion, the marijuana...
