California’s marijuana CEO Laid off, fined $2.4 million for illegal cultivation

California’s marijuana CEO Laid off, fined $2.4 million for illegal cultivation

California’Marijuana CEO fined; A primordial executive of several marijuana businesses in California has been expelled and ordered by a judge to pay a fined of $2.4 million for unlicensed cultivation.

According to the Salinas TV station KION, the former CEO Paul King of Monterey County-based California New Wave – a licensed distributor and cultivator – has been found liable for the penalties charged against the other two marijuana companies he ran in the year 2018 and 2019.

Those two cannabis businesses – Fuji Farms and Hands on Faith Association – were also found to have been cultivating marijuana without the required permits, according to a press release from Monterey County District Attorney.

Fuji Farms have been fined $375,760 and the other business Hands on Faith fined $2,038,424.

Fuji Farms did not have any marijuana cultivation licenses. Hands on Faith had obtained a cannabis cultivation licenses, but they had expired in the year 2019.

The companies were growing rapidly and selling cannabis under King’s leadership, the Monterey County district attorney’s office told KION.

King had sold an estimated $1 million worth of illegal marijuana in the cannabis market while running the two businesses. Unlicensed grows, the DA’s office said, by channeling cannabis sales through the licensed distributor and cultivator, California New Wave.

The judge in the case compelled that King was personally accountable for the Fuji Farms and Hands on Faith fines.

King was being removed from leadership by the California New Wave and all its related companies, the DA’s office said, and the two businesses are now operating under a new management.

California New Wave accepted to pay $150,000 in “civil penalties,” the DA’s office said.

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