How Don Coram Used His Public Office to Unleash a Multi-Year, $25 Million Scheme to Line His Own Pockets
Don Coram brags a lot about working with Democrats. What Coram forgets to mention is that it's so he can get rich!
As a State Rep and State Senator, Don Coram spent FIVE years “working across the aisle” to pass SEVEN different Colorado hemp laws. It was legislation he would personally benefit from.
Coram voted For HB-1246 allowing startups to circumvent traditional investment regulations by raising money directly from Colorado Citizens via crowdsourcing.
Two years later Coram held a press conference at the state Capitol to push Colorado citizens to use this new law to invest in a hemp company--Don Coram's hemp company.
Source: Colorado Politics
An Ethics Complaint is sent to then-Colorado State Attorney General Cynthia Coffman alleging Coram's hemp scheme was launched "to enrich himself and his business partners at taxpayer expense"
Coram brushes off the Ethics Investigation saying: "I've never apologized in my life for being an entrepreneur."
Source: Durango Herald
Coram holds a Press Conference at the State Capitol with fellow politicians who voted for the 2015 Crowdfunding Bill.
He announces Paradox Ventures will be the first firm in the state to use the crowdsourcing permitted under the law and encourages to invest in a hemp company using the new investment vehicle. Coram’s Facebook post makes no mention of his ownership in Paradox Ventures.
On April 23, 2018, 21 days later, Senator Bennet announces he is co-sponsoring the Hemp Farming Act of 2018
The Federal Government legalizes hemp growing operations and--in the same month--Don Coram announces Paradox Ventures has a contract with a CBD Company for “around $50,000 per acre” and is anticipating more than 500 acres of production.
From CPR News: "He moved part of his operation in Montrose into a former garden store greenhouse and now has 30,000 square feet to grow hemp year-round. Coram hopes to produce more than 500 acres worth of material next year. He’s contracted with a CBD company at a price of around $50,000 an acre."
Folks, that’s $25,000,000 per year!
$50,000 x 500 acres = $25,000,000 in revenue for Don Coram and Paradox Ventures
Don Coram projected to make $25 MILLION for his own company, Paradox Ventures, thanks to Don Coram using his public office to change the laws, get a head start on investments, and line his own pockets.