Thursday, July 7, 2022

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Former Eaze CEO being charged for transaction laundering

Jim Patterson, Eaze’s CEO until 2019, is under legal woes for “deceiving banks into processing $100 million worth of credit and debit payments for marijuana products,” according to MJBizDaily.

He will plead guilty tomorrow, thereby waiving an indictment.

The two men who were in charge of the online marketplace for Eaze were both indicted in March of 2020 for the scheme.

“The indictment alleged that the two, operating the Online Marijuana Marketplace, created fictitious online merchants that sold dog products, dive gear, carbonated drinks, green tea and face creams to route the marijuana transactions and get around cannabis banking restrictions,” again from MJBizDaily.

In the meantime, Eaze as a company is looking to put this all behind them and distance themselves from the controversy. A spokeswoman for the company wrote in an email to MJBizDaily, “as reported, we are cooperating with relevant authorities, Jim is no longer with the company and Eaze is not a defendant in this matter.”

Read the full story over at MJ Business Daily.

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