Federal Law Stops Pot Investor From Recovering $4.7M Loans – Law360

Law360 (April 2, 2020, 8:59 PM EDT) — A Nevada federal judge has thrown out a claim of unjust enrichment brought by a medical marijuana business investor that sought to recover $4.7 million in loans, saying the investor would have “unclean hands” if the court were to reach the company’s alternative claim.

U.S. District Judge Gloria M. Navarro said in Tuesday’s order that if the court were to let investor Bart Street III’s unjust enrichment claim against ACC Enterprises LLC, ACC Industries Inc. and Calvada Partners LLC stand, it would undermine enforcement of federal law “by giving prospective investors increased confidence in funding marijuana businesses.”

But with regard to…

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