Former Congressman’s Unusual Dealings With Marijuana Company Detailed In Lawsuit

MASSACHUSETTS: A non-profit company led by former Massachusetts Congressman William D. Delahunt, which received three coveted state licenses last month for medical marijuana dispensaries, intends to give 50 percent of the company’s revenue to a management firm that is controlled by Delahunt and his business partners in the marijuana dispensary.

In its license applications, Delahunt’s dispensary company, Medical Marijuana of Massachusetts, projected it would earn revenue of roughly $49 million in the first three years from the dispensaries in Plymouth, Masphee, and Taunton, meaning the management company would get at least $24 million.

Delahunt is listed as a manager of Triple M management Company LLC, but the application does not spell out Delahunt’s share of income from the management company.  He also is supposed to receive a $250,000 annual salary as chief executive of the marijuana company, according to the applications—although he has said he doesn’t expect to be paid a salary for the first several years while the business is getting off the ground.

 

 

Read full article @ Boston.com