Brian C. Padgett and CWNevada Buried Under
Court-Imposed Fines, Penalties & License Revocations

Here’s a headline that should get CWNevada’s Brian C. Padgett’s attention; it’s from the Nevada Independent: “Cannabis company faces record penalty, loses licenses amid allegations of maintaining off-the-books marijuana, destroying evidence“.

Yes, that cannabis company is Padgett’s own CWNevada, hit with an avalanche of fines and settlements. I’ll pull out some of the highlights, as reported in the Nevada Independent article:

  • penalty … appears to be the largest in state history against a marijuana company”
    “revokes licenses from CW Nevada”
  • “forces the company to pay $1.25 million in penalties to settle allegations that the company had large quantities of marijuana off-the-books”
  • “sold cannabis that appeared to be untested and destroyed evidence”
  • “illegally moving marijuana around”
  • “failing to maintain video surveillance that would document product movements”
  • “inaccuracies in record-keeping in the state’s seed-to-sale tracking system METRC”
  • “six of CW Nevada’s marijuana licenses have been revoked” (eight remain active)
  • “As of March, the company owes the state back taxes of more than $1.5 million
  • “various others have made claims against the company totaling nearly $207 million
  • “the receiver has determined that about $32 million of those claims are allowable
  • “agreement says the state will continue to pursue civil penalties and fines against majority owner and manager Brian Padgett individually, as well as revoking his marijuana agent card”
  • “the value of the licenses that were revoked is about $4.5 million to $6.75 million
  • “the company will be dissolved at the end of the receivership

WHEW!

“Buried” is the word I would use.

Here is the Cannabis Compliance Board ruling: CWNEVADA BEFORE THE CANNABIS COMPLIANCE BOARD STATE OF NEVADA

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