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$500K Medical Pot Loan Up in Smoke
Sometimes even the best laid plans go up in smoke. And sometimes these plans end up costing a lot of money. That's what happened to Mark Haile and Michele Hammer, two Arizona businesspeople who in August, 2010, loaned $250,000 each to Today's Health Care II (THC) http://www.todayshealthcaremeds.com, a Colorado-based medical marijuana dispensary. The agreements specifically stated that THC was using the loan proceeds for "a retail medical marijuana sales and grow center," but neither Haile nor Hammer thought that would ever be a problem. Marijuana is legal in Arizona and...
Published By: ABC News - Saturday, 12 May, 2012
