WeHo cannabis store sued for not paying back $1 million loan

Aeon Botanika Los Angeles LLC and Golden Phoenix Holdings LLC — the organizations behind cannabis business Aeon Botanika, which was approved to open in West Hollywood but never did — are being sued over nonpayment of a $1 million loan by Cutter Miller LLC.

Cutter Miller made the loan in March 2021 and gave the borrowers 48 months to repay. At the end of the year, an extension was granted, and the borrowers were lent an additional $305,000. Cutter Miller alleges they now owe $2 million in principal and more than $315,000 in unpaid interest and other fees, according to Green Market Report.

Aeon Botanika was attached to properties at 8448 Santa Monica Blvd. in WeHo and at 1144 S. La Brea in Los Angeles.

A page on emeraldvillageweho.com describes Aeon Botanika, then set to open in Fall 2021, as “a cannabis-inspired wellness company, curating a collection of products and spaces that help customers live happier, healthier lifestyles. Whether at our flagship store in West Hollywood, or out in the world, we are a guide to helping people seek deeper connections to themselves and others. We integrate ethically-sourced cannabis with other plant medicines, nourishing food and expertise to create personalized wellness rituals that elevate health and happiness.”

3 2 votes
Article Rating

Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

8 Comments
Newest
Oldest
Inline Feedbacks
View all comments
trackback

[…] No Byline Policy Editorial Guidelines Corrections Policy Source […]

Ham
Ham
1 month ago

stoners

TCM
TCM
1 month ago

A “wellness company”. Run fast from these claims.

Investigate TCM, 2500 years of results.

Canary in the Coalmine
Canary in the Coalmine
1 month ago

The canary in the coal mine.

Wait until the deluge arrives in Wes Hollywood.

https://nypost.com/2022/10/22/san-diego-er-seeing-up-to-37-marijuana-cases-a-day/

Jon Drucker
Jon Drucker
1 month ago

Typo in my correction: Cutter, not Cuter.

Jon Drucker
Jon Drucker
1 month ago

Correction: the plaintiff is CUTER MILL, not Cutter MILLER.

Jon Drucker
Jon Drucker
1 month ago

In addition, Aeon’s CEO and her common law husband, Nicole Fix and Neil Parekh, along with their company, The Fox Consultancy, are being sued under the False Claims Act for defrauding the US govt out of $1.35 million in Covid loans. They invested the funds into Golden Phoenix– in violation of the Covid Loan Program requirements that a cannabis business could not apply for such loans, the money was only to be used to pay rent and wages, and not to be used to make investments.

TomSmart
TomSmart
1 month ago
Reply to  Jon Drucker

Dang, they’z in a ‘heapa trouble.

8
0
Would love your thoughts, please comment.x
()
x