A Greek billionaire was recently detained on the Caribbean Island of St. Kitts after a search for his private jet was found with approximately £1 million of cannabis with almost 5,000 plants, an unknown number of seeds and a bunch of other cannabis-based products.
Danielle Wallace From Fox News has confirmed that Isle of Man resident Alkiviades “Alki” David, 50, was arrested by the Anti-Narcotics Unit at the Robert L. Bradshaw International Airport. The man has been charged of“Possession with intent to supply”, “Posession of Controlled Drugs” and “Importation of a Controlled Drug” into the Federation after his airplane was stopped by the custom authorities for checking.
David hails from the Leventis family, who runs the biggest commercial bottling facilities in Europe after a merger with the beverage behemoth Coca-Cola hiked the family’s total net worth by almost £4.6 billion. David, the billionaire, himself is estimated to be worth £2.6 billion.
He claimed that the plants he was carrying were “pure hemp,” which is legal and contains minimal traces of the intoxicating compound THC found in marijuana plants. However, the security officials disagree with the statement made by David and highlight that the plants did contain significant amount of THC chemical in them.
It is believed that the crop was supposed to be destined for David’s medical cannabis company, SwissX, which specializes in products containing CBD or cannabidiol, an anti-inflammatory and non-psychoactive compound derived from the hemp plant of the cannabis genus.
The drug is popularly known to reduce pain, swelling, inflammation, anxiety, depression, insomnia and also treat several ailments such as Cancer, epilepsy and Alzheimer’s. Though these potential benefits of CBD are not backed by any internationally recognized scientific research or study, individual analysis and real-life patients have observed a substantial improvement in their health.
David was released after paying a hefty cash bail of approximately USD $30,000 and is also due to make another appearance at the Basseterre Magistrate Court on May 14. In the meantime, he must surrender all the travel documents in his possession and report everyday to the Frigate Bay Police Station.
With the upscaling industry of cannabinoid, it isn’t surprising that the bigheads of the industry are also delving into the CBD space. From start ups to retailers to multi national giant companies, almost every business leader is taking the leap on to the CBD bandwagon with an array of products that promise health benefits, especially for people suffering from any mental disorders or physical injury or pain.
Many people prefer CBD over their usual medicinally prescribed drugs as it is more effective. The compound has entered into the market covering a wide range of verticals – beauty and wellness to foods and beverages – people are trying their hands on the newly legalized substance with great curiosity and in the hope of attaining a better health.
David will be facing massive amounts of legal bills accumulating over time. Last month, the billionaire was ordered to pay £8.5 million to a former employee whom he allegedly fired after she refused to perform sex acts at work which is extremely disgraceful.
As for the substance’s legality, the U.S. has removed hemp-derived cannabinoid from its list of Controlled Substance Act. However, many states still hold back on the decision to allow the public to freely use CBD for recreational purposes.
The FDA is yet to set a public meeting on May 31 where it will discuss the regulatory framework of using CBD oil with stakeholders involved. A public forum is open on the website of the Food and Drug Administration where people can confess and explain their experience with CBD.
Once the air clears up from the FDA, many states and companies waiting for its decision will take a step accordingly. Till then, CBD based products are almost illegal in the market according to the FDA and many other agencies which are yet to confirm the effects of the compound on people.
While some are focusing only on gaining traction and expanding businesses, lawmakers and social workers argue that products such as gummy bears that appear lucrative to the younger generation should not be infused with CBD.