Russian billionaire Roman Abramovich (foreground) watches from the stands as Metalist plays Sampdoria in a UEFA Euroleague football match in Kharkov, Ukraine in October 2010. Credit: Iurii Osadchi / Shutterstock (Updated 12:45 p.m.) Cannabis regulators in Connecticut said that they are looking into whether Curaleaf violated state law when the company and its two largest shareholders accepted hundreds of millions of dollars in loans from companies owned by embattled Russian billionaire Roman Abramovich.
Two of Abramovich’s companies, Cetus Investments and Meliastove Investment, pumped over $400 million into the pockets of Curaleaf and at least two of Curaleaf’s top shareholders from 2017 to 2021, according to leaked financial documents, which were first reported in December by Forensic News.
Loans are generally permitted for cannabis operators, as long as the individuals providing the loans are disclosed to the state Department of Consumer Protection and also meet the state’s definition of a “backer” for the cannabis industry, according to spokesperson Kaitlyn Krasselt.
“As with any allegation of an undisclosed financial interest, the Department will review the allegations,” she said in an emailed response.