Former Minnesota DFL political operative Will Hailer paid $1.2 million to settle a lawsuit brought by two South Dakota cannabis companies and their investors accusing him of fraud. The case ends a two-year saga that began when Hailer approached 605 Cannabis founder Ned Horsted with an attractive business opportunity for him and the two founders of another cannabis company, Dakota Natural Growers.
Hailer promised he would bring in an additional $7.5 million in investment for the cannabis growers if they gave him the $3.54 million they raised from friends, family and acquaintances. Hailer, who previously worked for the Democratic National Committee and for Attorney General Keith Ellison, met Horsted years before through Democratic politics.
"He tells a great story," Horsted said of Hailer in an interview earlier this year. "It made sense in my mind. If you're well connected, and you could pick up the phone and get someone to give $100,000 to a campaign, you could probably get that same kind of money for a business venture."
The additional investment never materialized despite months of promises that the money was just days or weeks aways, according to court documents. Hailer returned $1.86 million in August 2022 and another $500,000 in October 2023 after the cannabis business owners and their investors sued Hailer and three of his companies, eST Ventures, Badlands Fund and Badland Ventures.
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