Richard Lee, Oaksterdam University's founder, has announced that he'll be giving up his downtown Oakland-based pot businesses after a federal raid bankrupted him.
The medical marijuana school was recently raided by feds too — which seemed like a waste of time and money to many as it happened just blocks away and not too soon before a shooter went on a killing spree at a local nursing school.
He had this to say:
"I am now in this legal situation, so it's better for me to step aside. It was something we've always feared, but we've always known it's a part of the politics of this issue."
While the feds had warrants, not a single person has told him why he was raided or what they were seeking.
Lee has been the main financial backer of the ballot measures to legalize pot. He gave more than $1.5 million to the cause. He's now going to focus on that advocacy work.
Such a shame — who was he hurting but teaching people the proper way to legally run a business like this??
[Image via AP Images.]