Boynton Beach man becomes third arrested in alleged $32M Delray Beach THC scheme
Tetrahydrocannabinol (THC) is the primary psychoactive compound found in the cannabis plant (Cannabis sativa)A third suspect was arrested Friday in a multimillion-dollar drug and money laundering investigation involving a Delray Beach business, "Not Your Bakery."
Michael Carey Ives, 33, is accused of helping operate a nationwide THC distribution business that investigators say disguised illegal marijuana products as legal hemp while funneling millions through affiliated companies.
According to a Palm Beach County Sheriff's Office probable-cause affidavit, Ives faces 11 charges, including money laundering, conspiracy to commit organized fraud, selling controlled substances and using a communication device to facilitate a felony.
Investigators allege Not Your Bakery generated more than $32 million in criminal proceeds during 2024 and 2025, while reporting significantly less revenue to the state.
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