The New York Cannabis Social Equity Investment Fund has seen a significant shortfall in achieving its mission, with only 21 dispensaries financed despite substantial revenue for its managers.
The state's goal of aiding 150 individuals affected by outdated drug laws has not materialized, raising concerns over the fund's effectiveness and the potential collapse of dreams for many.
Despite the public mission of supporting social equity, the three managers of the fund have profited significantly, earning $1.7 million in just a year, amidst allegations of predatory practices.
The fund was designed with a clear purpose to assist social equity licensees but has faced scrutiny for failing to deliver on its public policy goals.
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