Rakoff calls forfeiture of $ 17 million in pot fraud case ‘excessive’


Law360 (Aug.31, 2021, 6:27 p.m. EDT) – Manhattan U.S. District Judge Jed S. Rakoff Denies Prosecutors’ “Fall Back” Request for $ 17 Million Forfeiture Order to Be Included in Sentencing prison sentence of a businessman convicted of a scheme to trick banks into processing more than $ 150 million in cannabis-related payments, calling it “unconstitutionally excessive”.

Instead, Judge Rakoff ordered Hamid “Ray” Akhavan on Monday to forfeit $ 103,750 – the value of the stock option he received from the Eaze-based marijuana delivery service. San Francisco – claiming that this amount is “commensurate with the seriousness of its offense”.

Prosecutors say Akhavan, co-conspirator Ruben Weigand and others were in a …

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