Cannabis Busts In California Yield Nearly $80M In Illegal Weed In January Alone


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Authorities seized over 30,000 cannabis plants, 2,720 pounds of weed and multiple firearms at an illegal cannabis-cultivation operation in Oakland, California last week, according to the Department of Cannabis Control (DCC). The agency estimated that the illegal cannabis was worth nearly $34 million.

According to DCC agents, the plants were valued at more than $22.1 million and the cannabis flower at more than $4.49 million.

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Agents said an AR-style semiautomatic rifle and a handgun were also seized, along with $68,841 in cash.

The two-day raid took place on Jan. 26 and 27 and was conducted at two warehouses on separate sides of the city.

Lt. Miguel Félix Ibarra, with the Alameda County Sheriff's Office, said the agency coordinated with the DCC on the “high-risk search warrants” at both facilities, reported SFGate.

“This search warrant operation was part of a large-scale marijuana cultivation and tax evasion investigation,” Ibarra told SFGATE in an email. “Two large warehouses located on these properties had been converted into sophisticated marijuana cultivation facilities.”

On the second day of the raid, agents with the Department of Fish and Wildlife conducted an operation in Oakland in which officials seized 7,113 plants valued at more than $5.8 million and more than 900 pounds of processed cannabis flower worth $1.49 million, reported a local CBS affiliate.

A total of nearly $40 million in illegal cannabis was seized during the three operations, officials said.

It’s not clear how many individuals were involved in the cannabis-growing operation. Neither agency said if anyone was arrested or if charges were filed.

Last week's operations were the latest in a series of raids targeting alleged illegal cannabis grows in California's East Bay, per CBS. In late January, authorities reportedly seized nearly $34 million in cannabis from a warehouse in Oakland while agents found more than $3 million in cannabis from a warehouse in Livermore, 25 miles outside of Oakland on January 10.

Photo: Dept of California Cannabis Control


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This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Posted In: CannabisNewsMarketsCalifornia cannabiscannabis bustsDepartment of Cannabis Controlillegal weed