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Ex-Eaze CEO Pleads Guilty In $100 Million Marijuana Payment Scheme

Such pretrial pleas often are an indication that the individual is cooperating

The former CEO of California cannabis delivery platform Eaze pleaded guilty to one count of conspiracy to commit bank fraud in connection with an alleged scheme to deceive banks into processing more than $100 million worth of credit and debit payments for marijuana purchases.

James Patterson’s plea, reported Friday by Law360.com, comes a week before a scheduled March 1 conspiracy-to-bank-fraud trial of businessmen Ruben Weigand and Hamid Akhavan in the Southern District of New York federal court.

Such pretrial pleas often are an indication that the individual is cooperating with prosecutors and could testify against other defendants in exchange for a lighter sentence.

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