New York regulators chose an NBA Hall of Fame player and his business partner to help manage a fund intended for social equity participants in the state’s marijuana sector despite a potential conflict of interest posed by their ties to industry player Cookies.
According to The (Syracuse) Post-Standard’s NY Cannabis Insider, Gov. Kathy Hochul selected former basketball star Chris Webber and entrepreneur Lavetta Willis in June as part of the Social Equity Cannabis Investment Fund management team despite their “strong financial ties” to Cookies, which is anticipated to make a push for the New York market.
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“In short, Webber and Willis are tasked with raising funds for dispensaries that will compete with their own financial interests if Cookies gets a license to sell recreational marijuana in New York,” the news outlet reported.
Willis did not respond to a request for comment from NY Cannabis insider.
Webber and Willis
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