[WSBARP] Depositing cash for marijuana sale to trust account.

[Bryce Dille]

This issue came up with one of my clients wanting to deposit those funds in our trust acct and it was a large amount that had to be reported and our bank said they would shut our acct down if cannbis funds were directly deposited in our account so you better check with your bank first.

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of John M. Riley III
Sent: Thursday, April 20, 2017 12:18 PM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] Depositing cash for marijuana sale to trust account.

Please respond to  list.


John M. Riley III
Principal | Witherspoon * Kelley
JMR at witherspoonkelley.com<mailto:JMR at witherspoonkelley.com> | Attorney Profile <http://www.witherspoonkelley.com/john-riley-1> | vCard<http://www.witherspoonkelley.com/s/jmr.vcf>
[WK]


422 W. Riverside Ave, Ste 1100
Spokane, WA 99201
(509) 624-5265 (office)
(509) 458-2728 (fax)
witherspoonkelley.com


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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Craig Gourley
Sent: Thursday, April 20, 2017 11:54 AM
To: wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Depositing cash for marijuana sale to trust account.

Listmates.  I have a client that is in the business of legally growing marijuana.  He wants to loan a friend money to construct a new commercial building.  Loan will be about $1,000,000.  Client has this in cash because apparently, he can't deposit it in a bank due to its source being the grow operation.   Does anyone have any experience with this type of scenario?  We will need to deposit the money into our trust account and then fund the loan and record a DOT against the real estate.  I don't want to get accused of some sort of money laundering or other nonsense so I am hoping someone may have already researched this issue.   Thank you in advance.  Craig

Gourley Law Group
Snohomish Escrow
The Exchange Connection

1002 10th Street / PO Box 1091
Snohomish, WA 98291

360.568.5065
360.568.8092  fax
Craig at glgmail.com<mailto:Craig at glgmail.com>

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