CannabisNews420.com – Cannabis/Marijuana Industry News
The owner of a prosperous, but unlicensed, Colorado Springs marijuana business called the Lazy Lion confessed in court that he did not pay $3.1 million in federal taxes as he should have, authorities say.
Andrew C. Poarch, 31, pleaded guilty last week to filing a false federal income tax return, according to a news release by U.S. Attorney Jason Dunn and IRS Criminal Investigation Special Agent in Charge Steven Osborne.
Between 2013 and August of 2016, customers could go to the store and join a private club by signing a customer agreement. The Lazy Lion, which was never registered as a recreational dispensary, sold membership agreements to members enabling them to buy marijuana. Members initially paid a one-time membership fee and then an entry fee thereafter, the news release said.
Unlicensed Colorado Springs Cannabis Shop Owner Guilty Of Not Paying $3.1 Million In Taxes