On Tuesday, Former US House Speaker John Boehner signaled clearly why he and others are diving into the industry - i.e. the green. No, not that green, the other green - $$$
In what many say felt like a parody video, Boehner announced he was joining the National Institute for Cannabis Investors.
The so-called American Cannabis Summit, an event organized by the National Institute for Cannabis Investors, has been aggressively marketed over the past week with a direct message that the cannabis industry could be a get-rich-now opportunity for any investor.
The Institute appeared to be offering insider access to stock tips that investors could use to accumulate massive wealth as well as promising of more conferences and forums to come.
Kevin Sabet, whose non-profit anti-cannabis group Smart Approaches to Marijuana, said the conference is indicative of a wider industry problem. “I think the only thing worse than the special interest pot industry is the special interest pot conference industry,” he told Cannabis Wire. “They constantly are holding conferences and duping investors into thinking that they are the next big thing. The whole thing is a racket.”
Back in April, Boehner shocked the political world when he joined the advisory board of Acreage Holdings, one of the largest vertically integrated cannabis holding companies. Yet, Acreage spokesman Howard Schacter confirmed Boehner’s appearance at the American Cannabis Summit but said it wasn’t on Acreage’s behalf. Boehner, however, wasn't shy about touting his ties to the growing cannabis firm.