Media Report: NY’s $200 million cannabis fund: Webber & Willis may hold serious conflicts of interest

Syracuse.com report

NY Cannabis Insider has learned that the two high-profile individuals selected to manage a $200 million state cannabis fund may hold significant conflicts of interest that could place New York’s social equity-focused rollout in precarious ethical waters.

In June, Gov. Kathy Hochul announced NBA Hall of Famer Chris Webber and entrepreneur Lavetta Willis were selected as part of a team to manage the state’s Social Equity Cannabis Investment Fund, which will pay for the buildout of New York’s first 150 retail dispensaries.

What’s gone unmentioned by state officials, however, is that Webber and Willis have strong financial ties to the major global cannabis brand Cookies, including a partnership between Webber, Willis and Cookies U on a $50 million cannabis training facility in Detroit, in addition to a deal in which Cookies dispensaries in Michigan will carry the duo’s Players Only branded weed – an announcement made in August, after the two were selected as fund managers.

Read  more at

https://www.syracuse.com/marijuana/2022/11/undisclosed-the-big-names-running-nys-200-million-cannabis-fund-may-hold-serious-conflicts-of-interest.html

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