Wednesday, December 18, 2013

Republican NY Legislator Who Voted Against Medical Marijuana Now Investing in the Industry Himself

David Downs
Photo Credit: Carin
Republican New York Assemblyman Steve Katz, who voted against a medical marijuana bill in 2012, and was arrested for pot possession in March, will invest up to $10 million in the coming years in cannabis-related businesses, Smell the Truth has learned. 
Katz – a New York native and resident – joined the investor network of San Francisco-based marijuana investment and research firm  The ArcView Group this December, said ArcView CEO Troy Dayton. “He’s gung-ho.”

Katz intends to help pool millions of dollars of investment capital and fund marijuana-related start-ups focused initially on marijuana business software, security, and distribution, he said. The growth of the medical marijuana and adult-use cannabis industry rivals the personal computer revolution of the early ‘90s, Katz said in an interview with Smell the Truth.

“For me, entering this industry at this time is a dream come true from a child of the Sixties all grown up,” he said.

Critics labelled Katz a hypocrite after voting against medical marijuana in 2012, then getting a pot ticket in March 2013, when an officer pulled him over for speeding. Katz said he did not personally support his ‘no’ vote on medical marijuana in 2012.

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