DENVER (CBS4) – The pot business at six Denver marijuana dispensaries has gone up in smoke.
The owners of a half-dozen dispensaries who collectively owe $63,952 in back taxes to the city of Denver will see their gear sold at auction.
For sale: furniture, safes, office supplies, pot-related posters and even marijuana leaf-shaped green neon signs. Everything but the pot itself. The product seized by federal agents during raids will be destroyed.
The city has contracted Rich Schur to auction the contents of the six stores, including Kushism at 26th Avenue and Federal Boulevard and VIP Cannabis at Alameda Avenue and Federal Boulevard.
At the Kushism store — a purple building whose signs brags it has the “best kush in Denver” — court papers were scattered in the parking lot. One portion of the papers said the dispensary owners owed more than $7,000 in back rent.
Schur doesn’t expect the seizure and the auction to be an isolated event.
“I think this is going to be the first of a series with new laws coming into place and this being a new business enterprise in Colorado,” Schur told CBS4. “Like many business ventures, many of them fail in the first year or two.”
The auction began Monday at successauctions.com. Those arrested on separate federal charges are accused of illegally laundering money from Colombia.
More Marijuana Legalization Stories
- Neighbors Upset Over Company Listing Homes As ‘Pot Grow Friendly’
- New Law Helps Crack Down On Illegal Marijuana Grow Operations
- State Leaders: Rescinded Pot Policy Throws Colorado ‘Into Limbo’
- Prosecutors In Pot-Friendly States Will Decide On Crackdown
- Colorado Lawmakers Push Back On Marijuana Prosecution Change
- Sen. Gardner Vows To Protect Legal Pot After U.S. Shift
- Colorado Has Some Retail Pot Competition In California