Fraud in the cannabis industry typically spans investor schemes, online consumer scams, and supply-chain or potency misrepresentations driven by a heavy reliance on cash and evolving regulations.  Investor and securities fraud includes Ponzi and pump-and-dump schemes where fake operators hype micro-cap stocks or non-existent dispensary builds, and misappropriation through diverting capital raised for licenses into personal debts or unrelated businesses.  Consumer and online scams include social media/messaging scams where phone accounts on Telegram or WhatsApp take payments for shippable “packs” and ghost buyers, and potency inflation through labs or brands allegedly mislabel THC percentages or hide failed contaminant tests.  Operational risks result from cash-heavy vulnerabilities and include internal theft and skimming due to federal banking restrictions keeping transactions cash-centric.

Mitzi Keating is a partner in the firm’s Rhode Island office and Founder and Co-Leader of the Cannabis Advisory Services Practice.  She has over 20 years of experience providing accounting and audit services, tax planning, business consulting, and forensic services.

Mitzi is known across the country as a cannabis industry expert in matters of financial due diligence, accounting, tax, and other financial challenges faced by operators, regulators, investors, and others ancillary to the cannabis industry.  She is a regular speaker and presenter at national cannabis conferences, has published many articles, videos, and podcasts, and is an author of the Massachusetts Cannabis Law Manual.

Mitzi has a unique perspective on the cannabis business, as she has previous experience as an elected official in the town of Lakeville, MA, allowing her to understand the local regulatory challenges facing this industry.  Having established a network of cannabis advisors, Mitzi is able to translate her knowledge to the needs of this unique industry as the industry evolves and is able to give you industry experience from working with actual growers, distributors, and applicants who have already navigated these waters.  She has experience working with cultivators, dispensaries, cannabis transportation companies, and cannabis-related business in both the United States and Canada.

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