04/11/2011 09:50 pm ET Updated Jun 11, 2011

Medical Marijuana Investment Funds Axed; Proponents: 'We Already Know The Mafia Is Here'

Medical marijuana lobbyists virulently plied their trade Monday in a furious attempt to stop an amendment to HB 1043, the medical marijuana "clean-up" bill, that struck language allowing for the creation of investment funds that proponents hoped would fund a restructuring of the industry. The amendment passed and the funds will not be allowed.

Legislation sponsored by Representative Tom Massey, R-Poncha Springs, and spearheaded by Josh Stanley and the Medical Marijuana Industry Group, could have changed the overall funding structure of the industry in Colorado by allowing individuals to enter into investment funds that would invest in the marijuana trade.

Read more on The Colorado Independent