Investigations Aren't Just For Crimes

The CannaBS Detector

Have you ever wondered how legit an associating business is, or the people within it? Are you investing into a business with someone you aren’t entirely sure of? Well, lucky for you, we’re speaking with Tanya Hoke, a due diligence investigator.

Tanya has 6 years of experience managing investigative due diligence for clients in the cannabis industry. What does that mean exactly? It means that Tanya will investigate specified associates for you to confirm facts or details of a matter under your consideration. She’ll figure out their detailed history to determine if they’re a reliable associate to go into business with. Not only that, but she’s also a certified fraud examiner, a certified anti-money laundering specialist, and a licensed private investigator in Massachusetts and Colorado.

4 Lessons Learned:

1. There are different levels to due diligence. Dependent on the context and the regulations surrounding the situation, there are different regulatory guidelines you are allowed, depending on what the situation of your client.
2. A lot of people don’t think to investigate into their associates or business partners histories. But, why? A lot of investors in our industry either have friends involved in the investment so they feel more secure or they have trusted their gut in past successful endeavors and plan on doing so again.
3. Compliance is everything in the cannabis industry. If a company doesn’t have a specified employee or team that is focused solely on compliance and regulatory changes, such as a Chief Compliance Officer, then chances are they aren’t going to be as successful as the companies that do. Especially in an industry where our regulations change at the drop of a hat.
4. Impressive faces on a board of directors does not mean a successful company. Most likely, it’s just a play for increase in their investor’s trust.

List of Topics/subjects discussed:

• Investigative due diligence within the cannabis industry
• Tanya’s expectations upon entering the cannabis industry and what she discovered
• The Fair Credit Reporting Act
• The different regulations within the Fair Credit Reporting act and how it differs depending on the context of the situation
• Pre-investment regulations VS. pre-employment regulations
• Kristen’s experience with background checks within her career
• The time crunch with due diligence in the cannabis industry
• Tanya’s personal experiences working with the CBD industry specifically
• Assumptions that came with the Farm Bill
• Tanya’s first OSHA complaint - how did it end up?
• The shady businessmen joining the industry from outside of Cannabis
• Googling VS. Tanya Hoke
• What you can do to ensure you’re making the right business decision?
• Legacy farmers and investors
• An ‘unprofessional industry’
• The financial risks you take with not investigating your business associates

Links to Referenced News Articles from interview:

Interested in doing some research like Tonya? Use her recommendations to try out the basics for yourself and your business.

https://www.glassdoor.com/

Interested in checking out the mentioned podcast American Scandal? Link below for the referenced episode

https://podcasts.apple.com/gb/podcast/enron-a-sense-of-urgency/id1435516849?i=1000447908889

Did you learn something new about the cannabis industry today? If so, let me know in the comments below!

Guest Bio and Social Media Links:

Tanya Hoke | Founder & Managing Director

Tanya has more than a dozen years of experience managing investigative due diligence for clients in industries ranging from pharmaceuticals and manufacturing to financial services and consulting. She has been advising investors in the cannabis industry since 2015.

Tanya has led hundreds of due diligence investigations into management teams, helping clients to identify business, legal, and reputational risks prior to proceeding with high-value transactions. She was previously a Senior Consultant in Corporate Investigations at Control Risks Group, a global security and political risk consulting firm.

Tanya speaks regularly about due diligence, risk management, and integrity in the cannabis industry. She currently serves on the NCIA’s Banking & Financial Services Committee, and previously served on the State Regulations Committee.

She is a Certified Fraud Examiner, a Certified Anti-Money Laundering Specialist, and a licensed Private Investigator in Massachusetts and Colorado. She received a Bachelor of Arts degree from Swarthmore College and a Master of International Business degree from the Fletcher School at Tufts University, where she serves on the MIB Alumni Advisory Board.

Galen Diligence

Tanya Hoke Linkedin

Credits:

Audio Editing - Seth Cross - Frontal Lobe Productions

Intro/Outro - Jef Judin

Music - The Master by Flashing Lights

Show Notes - Henley Beall

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