Maryland Gov. Wes Moore’s (D) administration on Monday announced he has created a blind trust for his assets, which includes about $1.2 million in shares of stock in a cannabis company, NBC 4 Washington reports. The Green Thumb Industries stock comprises about 46% of the governor’s assets now in the trust. Moore had served on the company’s board of directors from 2018 until March 2022.
Carter Elliott, a spokesperson for Moore, told NBC 4 that creating the blind trust “will ensure the governor is removed from even the appearance of potential conflicts of interest that could arise as a result of his duties as governor and further demonstrates his commitment to serving the people of Maryland to the best of his ability ethically, transparently, and effectively.”
The trust is required to be diversified and a large portion of his Green Thumb stock is likely to be sold.
Maryland voters approved an adult cannabis use ballot initiative last November and last month lawmakers approved legislation greenlighting a licensing plan which aims to get adult-use cannabis licenses issued by this summer.
Moore is expected to sign that legislation this week.
Green Thumb holds a dispensary license in Maryland under its RISE brand.
Get daily cannabis business news updates. Subscribe
End