HOW DID THE GENIUS FUND BLOW $164M?
Dot.LA ran a three–part series on the collapse of The Genius Fund, a Los Angeles entity that blew through a $164M investment from Russian coal oligarch Dmitry “Dima” Bosov. Bosov died in May of an apparent suicide.
The company had big ambitions in the California cannabis market:
[The two twenty-somethings who ran it] publicly referred to Genius Fund as a private equity fund, but the company functioned more like a family office for their high wealth investor, or a conglomerate that rolled up into one parent entity….
Genius Fund’s expansive structure included more than 50 corporate entities, mostly limited liability companies, spread across farming operations, CBD and THC manufacturing processes, product development, delivery operations and a retail front, according to domestic and international corporate filings.
Quick Hit
- A ProPublica investigation looks at how investors, many with cannabis connections, worked the underground mask trade.
