Abner Kurtin is the Boston financier who founded Ascend Wellness Holdings (AWH), one of the largest multistate cannabis operators in the United States. He was arrested on a misdemeanor domestic battery charge in Miami Beach in September 2022, stepped down as chief executive weeks later, and formally left the company in March 2024 under a separation agreement worth $3.3 million. The battery charge was dropped by Florida prosecutors, and the separation was not an admission of wrongdoing by either side.
From Hedge Funds to Cannabis
Kurtin holds a bachelor’s degree from Tufts University and an MBA from Harvard Business School.1Revere CRE. Abner Kurtin Profile2MJBizDaily. Building a Multistate MJ Company: Ascend CEO Abner Kurtin3Preqin. K Capital Partners The fund was eventually liquidated.
In 2018, Kurtin turned to cannabis, founding JM10 Partners, a Boston private equity firm that deployed $50 million into 17 companies in the sector, including Green Thumb Industries.1Revere CRE. Abner Kurtin Profile2MJBizDaily. Building a Multistate MJ Company: Ascend CEO Abner Kurtin
Founding Ascend Wellness Holdings
Also in 2018, Kurtin founded Ascend Wellness Holdings and moved from investor to operator. He described his strategy as a “rifle approach,” targeting mature medical markets and states close to legalizing recreational sales. By early 2019, AWH had raised more than $100 million, including a $55 million round that February.2MJBizDaily. Building a Multistate MJ Company: Ascend CEO Abner Kurtin
The company built vertically integrated cultivation, manufacturing, and retail operations across limited-license states in the Northeast and Midwest, including Illinois, Massachusetts, New Jersey, Ohio, Michigan, Maryland, and Pennsylvania.4U.S. Securities and Exchange Commission. AWH Form 10-K Annual Report AWH trades on the Canadian Securities Exchange and the OTCQX under the ticker AAWH.5PR Newswire. AWH Reports First Quarter 2026 Financial Results
The 2022 Miami Beach Arrest
On September 6, 2022, Kurtin was arrested in Miami Beach on a misdemeanor domestic battery charge. According to the Miami-Dade State Attorney’s Office, a witness reported seeing Kurtin strike his domestic partner inside a vehicle and then grab her head and strike it against the dashboard.6MJBizDaily. Battery Charge Dropped Against Ascend Wellness Co-Founder Abner Kurtin
Charge Dropped by Prosecutors
On September 30, 2022, the Miami-Dade State Attorney’s Office dropped the charge. Public information officer Ed Griffith said neither the alleged victim nor the witness would cooperate with police or prosecutors, including refusing to provide statements for court. “This made it impossible for the misdemeanor battery case to go forward in our criminal court,” Griffith said.6MJBizDaily. Battery Charge Dropped Against Ascend Wellness Co-Founder Abner Kurtin
Kurtin denied any physical altercation in a statement issued through a public relations firm. “My partner and I were involved in a verbal argument that was never physical at any point,” he said. “I have apologized to her privately for my verbal actions, and we both moved on with our relationship in a positive manner.” He praised the Miami Beach police for their response, noted Florida’s mandatory arrest laws in domestic situations, and thanked “those who supported me and were patient with the due process of law.”7Cannabis Business Times. Former Ascend Wellness CEO Abner Kurtin Says Battery Charge Dropped
Removal as CEO
The arrest prompted a quick response at AWH. On September 28, 2022, two days before prosecutors dropped the charge, the company announced Kurtin was stepping down as chief executive and moving to Executive Chairman. Chief Financial Officer Daniel Neville and co-founder and President Frank Perullo were named interim co-CEOs while a search for a permanent replacement was underway.6MJBizDaily. Battery Charge Dropped Against Ascend Wellness Co-Founder Abner Kurtin
Kurtin did not return to the top job after the charge was dismissed. In May 2023, AWH appointed John Hartmann, a former True Value Company chief executive, as permanent CEO effective May 15. Neville resumed his CFO role and left the board, and Perullo shifted to a Strategic Advisor role focused on regulatory matters.8CityBiz. Ascend Wellness Holdings Appoints John Hartmann CEO
The 2024 Separation Agreement
Kurtin stayed on as Executive Chairman until March 29, 2024, when his employment ended under a separation agreement signed by Hartmann on behalf of AWH. The agreement was framed as a mutual decision to “amicably resolve any and all disputes” between the parties.9Justia. AWH Employee Separation and Release Agreement
Its financial terms were substantial. Kurtin received $3.3 million in termination compensation, calculated as two times his 2023 base salary plus two times his 2023 annual bonus, payable in installments over 12 months. All of his outstanding equity awards vested in full, including 635,686 stock options and more than 2.28 million restricted stock units. AWH also agreed to remove his name from every state cannabis license on which it appeared. The document included a broad mutual release of claims and stated explicitly that it was not an admission of liability or wrongdoing by either party.9Justia. AWH Employee Separation and Release Agreement