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Pro-Putin Russian Oligarch Backing Curaleaf Verified

A Russian oligarch backed by President Vladimir Putin is a significant funder of the Multi-State Operator (MSO) Curaleaf, according to Forensic News.

There had been some questions about Curaleaf’s connection to Russian oligarchs. It has now been verified. New documents from Cyprus that have been uncovered detail Russian oligarch Roman Abramovich’s finances and relationship with Curaleaf Chairman Boris Jordan.

Off-Shore Shell Games

According to Forensic News, Abramovich funneled money to Jordan and companies via a company based in the Caribbean Sea. He used British Virgin Islands LLC and Cetus Investments.

Abramovich funneled money to Jordan, who then spent it on Curaleaf. The funneling of money was previously never disclosed, according to Forensic News.

Jordan’s company Lafayette LLC received $14 million from Cetus Investments in November 2016. The money was earmarked for many company shares that would be purchased. It was known as PalliaTech before being renamed Curaleaf.

Cetus Investments is based in the British Virgin Islands in the Caribbean Sea, and Abramovich controls it.

Cetus also funneled another $45 million to Jordan through a company he owned called Sputnik Technology Ventures. Abramovich loaned Jordan about $69 million in total between 2017 and 2018.

Jordan is a long-time back of Putin, whose strong-arm tactics make a mockery of democracy. Putin is a war criminal who has thrown journalists and dissenters in jail like a dictator.

However, Jordan was not the only major shareholder in Curaleaf to be secretly funded by loans from Abramovich’s off-shore company. The second largest owner of Curaleaf, Andrey Blokh, also served as a funnel for Abramovich’s money. According to Forensic News, he received over $50 million for purchasing company shares from Cetus Investments in 2016. Blokh is a dual citizen of the United States and Russia.

Forensic News found that Abramovich ultimately invested $225 million through Jordan and Blokh.

Curaleaf defended itself, saying, “Cetus was a lender to many businesses around the world. All loans referred to in your email were repaid long before Curaleaf was formed or went public. Curaleaf has no debt with Cetus. We cannot speak on behalf of shareholders.”

Russian Oligarch Roman Abramovich

Abramovich is considered a noted Russian Oligarch. They control large swaths of the Russian economy with Putin’s blessing. He is a multi-billionaire who made his fortune in the crony capitalism that permeated Russia following the fall of the Soviet Union.

Abramovich has close ties to Putin. RA supported him in succeeding Boris Yeltsin as the President of the Russian Federation. He was a governor of a Russian province with Putin’s blessing.

The United States Department of Justice sought to seize two airplanes owned by Abramovich in June in the wake of the Russian invasion of Ukraine.

MSO Curaleaf Operations

Jordan previously called for a limited cannabis market dominated by a few corporations that would deny many opportunities. The company had to work hard to spin his comments.

They produced medical cannabis in New Jersey that was found to be moldy led to a recall due to the story being uncovered by Heady NJ.

In 2020 they were fined for a labor violation due to safety violations.

Curaleaf is one of the largest cannabis corporations operating in the United States. They’re based in Wakefield, Mass. Curaleaf currently operates 3 dispensaries in New Jersey.

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