Replies to post #68100 on GRN Holding Corp (GRNF)

[e-ore]

Money laundering? So you're saying that CANN electronically transfers "dirty" money to PBC, PBC moves it it to the GRN Funds checking account, and GRN Funds "cleans" it for them by paying CANN's bills?

[Admtiger]

If these guys are laundering money you expect us to believe they are dumb enough to go before a judge and expose themselves because they can't get their dirty money back.

[I-Glow]

The Judge has granted all of the Motions filed by CANN - the Judge understands that Costello was dodging service.

Costello breached the contract - and you have yet to be correct about any of the CANN complaint - much like the $500 price and GRNF listing on the OTCQB tier on 420.

CANN wasn't laundering money - they were trying to pay taxes, payroll and pay vendors that in no way is money laundering - Costello stated that PBC - "Pacific Banking Corp. ("PBC") is engaged in the business of providing marijuana businesses that are legal under state law."

CANN is certainly a legal business in California and Costello stole the the CANN Funds to maintain his fake lifestyle.

IG

[e-ore]

Gotta love Costello's I'm guilty of money laundering defense

"PBC and GRN are both MRB’s. Their businesses involve providing financial, investment and other services to Tier I MRB’s."

"The federal anti-money laundering statutes make it a crime to knowingly engage in monetary transactions involving proceeds of certain unlawful activity, including the sale of marijuana. Under these laws, all proceeds generated by MRBs (even if operating in compliance with state law) are unlawful, and financial transactions with such proceeds (including accepting deposits, making loans, and other banking services) constitute illegal money laundering."

“Because federal law prohibits the distribution and sale of marijuana, financial transactions involving a marijuana related business would generally involve funds derived from illegal activity. Therefore, a financial institution is required to file a SAR [“Suspicious Activity Report”] on activity involving a marijuana-related business (including those duly licensed under state law)…the decision to open, close, or refuse any particular account or relationship should be made by each financial institution based on a number of factors specific to that institution.... Thorough customer due diligence is a critical aspect of making this assessment.”

So every transaction that PBC processed on CANN's behalf should have generated a SAR by the financial institution that was holding the money "deposited" by CANN with PBC. Hawkins stated that money was at Chase bank. Chase should have refused to accept it, unless PBC hid the fact that it was MRB money.