.Oaksterdam University’s Richard Lee: “It’s Time for Others to Take Over.”

The Los Angeles Times reported last night that Richard Lee will transfer his businesses like Oaksterdam University and Coffee Shop Blue Sky to others and step down.

“I’ve been doing this for a long time. Over twenty years…. I kind of feel like I’ve done my time,” Lee said Thursday. “It’s time for others to take over.”

“He plans to transfer the businesses to new operators but said he will shut down his marijuana nursery because his stock of mother plants, which he had nurtured for years, was confiscated,” the Times reports.

“Lee acknowledged that he was worried he could face major federal drug charges.”

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