Blue Line Protection Group Launches Vaulting Services Division

COLORADO: Blue Line Protection Group,  a leader in providing armed protection, regulatory compliance and secured transportation services to high-value asset industries, today announced its new Vaulting Services Division to provide secure storage and processing solutions for clients across Colorado.

“We’re responding to the needs of a growing number of cash-intensive businesses seeking secure currency storage,” said Daniel Allen, Blue Line’s Chief Executive Officer. “We’ve seen increased interest from the local business community in a third-party, secure currency storage solution, and part of this is driven by the growth of the legal cannabis industry here in Colorado. Blue Line’s new Vaulting Services Division will enhance our ability to mitigate the risks posed to businesses that operate primarily through cash transactions.”

“Blue Line’s new facility and Vaulting Services Division will also serve the needs of regional financial institutions seeking an alternative for currency transportation and processing for their clients,” added Mr. Allen.

Blue Line manages security operations for Colorado’s most prominent lawful cannabis dispensaries and cultivation facilities. The Vaulting Services Division will offer personal and business currency vaulting services, as well as safe deposit box storage, and will be integral to its new operations headquarters located near downtown Denver and scheduled to open within the next month.

“As we near the opening of our new facility and our services expand across Colorado, our clients have expressed the desire for a centralized, secure facility to store their currency,” said Ricky G. Bennett, Blue Line’s Vice President of Operations and Compliance. “Currently, many of these business owners are left without banking solutions and are forced to store their cash inside their businesses, or even inside of their own homes. Transporting tens or hundreds of thousands of dollars in cash to their personal residences in unsecured vehicles only invites potential criminal elements into their neighborhoods. Blue Line minimizes the risks to these business owners, as well as to the community at large, by creating a central, secure facility to accommodate their cash storage needs.”

Blue Line has already established relationships with financial institutions across Colorado by providing on-site compliance investigations, helping banks comply with federal “know your customer” requirements. Blue Line will be able to transport currency from these banking customers directly to its centralized, secure location for processing, reducing the risk inherent with banks accepting hundreds of thousands of dollars through its teller windows. Blue Line employs primarily former law enforcement and military personnel to provide protection and armored transportation services to clients throughout Colorado.

“We’re protecting our businesses, we’re protecting our financial institutions, and we’re protecting our communities,” added Mr. Allen. “Our new Vaulting Services Division brings a much needed measure of security and peace of mind to cash intensive businesses and persons with assets in need of secure storage.”

Blue Line is now accepting applications from persons, businesses and financial institutions interested in its vaulting services. Contact Blue Line at 800-844-5576, or email Blue Line’s Vaulting Services Division at Vaulting@BlueLineProtectionGroup.com for more information.

 

Colorado Tourism Survey Shows Legal Pot’s Influence

COLORADO: Marijuana businesses have long proclaimed that cannabis is drawing visitors to Colorado. Now they have proof.

A study commissioned by the Colorado Tourism Office and presented to the office’s board of directors on Wednesday shows legal weed as a growing motivator for trips to Colorado — conflicting with the mantra of tourism officials statewide that savvy marketing alone is responsible for record visitation and spending in the last two years.

While the state’s “Come to Life” ad campaign is certainly successful, surveys in October and November of potential summertime visitors who were exposed to the state’s tourism ads revealed that the marijuana laws influenced vacation decisions nearly 49 percent of the time.

“I think it is rearing its head as a significant travel and tourism amenity for visitors coming to Colorado,” said Al White, who retired as boss of the Colorado Tourism Office in August and now serves on the board of a cannabis tourism company.

Judge Denies Bankruptcy Protection To Denver Marijuana Business

COLORADO: Buzz kill? A U.S. bankruptcy judge has dismissed the case of a Denver marijuana business owner, saying that though his activities are legal under Colorado law, he is violating the federal Controlled Substances Act.

In dismissing the case filed in U.S. Bankruptcy Court in Denver by Frank Anthony Arenas, Judge Howard Tallman said he realizes the “result is devastating for the debtor.”

The Arenas’ case is at least the second bankruptcy involving a marijuana business tossed out of bankruptcy court in Colorado. At least two others have been dismissed in California.

Tallman made a similar decision in a 2012 case involving Rent-Rite Super Kegs West Ltd, a company that operated a warehouse partially rented to a tenant engaged in cultivating marijuana.

Violations of federal law create significant impediments to the debtors’ ability to seek relief from their debts under federal bankruptcy laws in a federal bankruptcy court,” Tallman wrote in the Arenas’ decision last month.

Arenas, who couldn’t be reached for comment, has appealed the decision to the U.S. 10th Circuit Court of Appeals in Denver.