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

[Mary Stone]

Spray it with Fabreeze before you take it to the bank.

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Craig Gourley
Sent: Thursday, April 20, 2017 3:35 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Depositing cash for marijuana sale to trust account.

 

We called our bank and were advised that it was Ok as long as it did not
smell like weed.  I guess this is the literal example of something passing
the smell test.   Not sure that is the legal threshold I am comfortable
with. 

 

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> 

 

From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Bryce Dille
Sent: Thursday, April 20, 2017 12:33 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: Re: [WSBARP] Depositing cash for marijuana sale to trust account.

 

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>
[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 <mailto: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> 




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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