Cannabis Giant Curaleaf Accused of Russian Roots
If all publicity is good publicity, then Curaleaf is set for life.
Boris Jordan, Board Chairman of Curaleaf, was involved in Russia’s messy conversion to capitalism in the 1990’s. He is also still linked to Oleg Deripaska and others. Jordan and his backer, milk baron Andrey Blokh have made impressive sums off of Curaleaf. In fact, Jordan splits his time between Miami and Moscow. To deepen the connection Blokh, located in Moscow, grew up as a close friend of oligarch Roman Abramovich.
In response to pressure regarding the connection, Jordan tweeted, citing his Ukranian and Russian ties, and then his hopes for a ‘diplomatic solution.’
Curaleaf has been linked to controversy in my mind since their purchase of Select Oil, which was seeded using money from a real estate pyramid scheme which had been funneled from 50 Oregon retirees.
And then, there were the rape allegations against one of the leaders.
Is it any wonder people like me are skeptical of big cannabis?
It’s yet more proof that the best way to by cannabis is by focusing on local farmers and craft extractors. How else can you be sure some oligarch isn’t getting rich off your purchases?
UPDATE: Curaleaf has responded!
To our valued shareholders:
Rumors and misinformation spread during turbulent times. We are committed to fostering trust and transparency throughout the cannabis industry.
For the benefit of our investors and the transparency of the market, Curaleaf would like to provide some clarity by addressing speculation regarding how the Russia-Ukraine crisis may impact the Company.
- U.S. citizens, whether they hold other passports or not, are not subject to and cannot be subject to, U.S. economic sanctions.
- Curaleaf, as an American company, is also not subject to and cannot be subject to, U.S. economic sanctions.
- Our Executive Chairman and largest shareholder, Boris Jordan, is an American citizen, born and raised on Long Island, New York. He is not, and has never been, a citizen of any other country.
- Mr. Jordan spent several years working in Europe and Russia and currently has several businesses in the U.S. (Curaleaf among them), Europe and Russia.
- Our second largest shareholder is Andrei Blokh, a successful retired CPG entrepreneur who is not active in the Company. Mr. Blokh is a U.S. citizen, who also holds a Russian passport.
- The substantial majority of our shares are owned by the retail investor community and institutional investors.
The speculation on social media that the Company and its major shareholders and executives will somehow be subject to any U.S. government economic sanctions now or in the future is incorrect.
Your dollars — you decide!
