By Katie Burke
This past weekend Michael Llamas, the founder of Medical Marijuana Inc. passed away in a fiery car crash in his Lamborghini after reaching speeds upwards of 100 miles per hour on North Harbor Drive in downtown San Diego. There was a female passenger that was ejected from the car. Her identity has not yet been released and the extent of her injuries are still unknown at this point. He had stepped down as the CEO in 2012 which was the same year he was accused of being involved in a Ponzi scheme. The company released a statement,
“The company has learned that Michael Llamas died in a traffic accident over the weekend in San Diego. The company mourns the loss of one of its visionary founders. Mr. Llamas was an incredible philanthropist and changed countless lives throughout the world.”
Medical Marijuana Inc, is self-described as a company of firsts. It’s the first company to be publically traded in the United States. First to introduce medical cannabis products to Puerto Rico, Paraguay, Brazil, and Mexico.
Michael Llamas had stepped down in 2012 after he was indicted for mortgage fraud scheme. He was three weeks away from being sentenced for the role he played. It’s been reported that he had cost lenders and other victims more than $10 million dollars.
