Marijuana reached the market of Spanish investors, but as a pyramid “scam”. The Dutch cannabis-growing company, JuicyFields, promised its more than 40,000 Spanish investors, and 120,000 international investors, great interests in 2021. However, in June of this year the company disappeared, causing the “ruin” of those who risked investing in this business.
JuicyFields’ strategy was to invite people to invest in small amounts of money to plant cannabis “legally”, with a profit of 65%. In Spain, more than 40,000 people invested, according to data from the
The mode of operation was through a Telegram group, an application in which they shared photos of their plants and commented on the investment. Once the harvest was harvested, investors received their money back plus a benefit of between 29% and 66% additional to the initial contribution, depending on how the harvest had gone.
The model seemed to work. This is how JuicyFields was with its clients, according to the statement to OK Diario by one of those affected by this pyramid scam: “they did not fail even once in the payment, every three and a half months you could collect your benefit. What’s more, a friend had a problem with a contribution and they applied the performance retroactively for a final benefit of 60%”.
End of operations
However, it all ended in June. First the alerts went off with a “supposed” strike by the company’s employees that led to the departure of the CEO, the closure of social networks and later the blocking of customer accounts.
Previously, he had notified her that the Dutch company did not have any type of “authorization” and was not “registered” with the same entity.
The same case occurred with the . Those who had prohibited the investments offered by Juicy Fields, since a sales prospectus previously approved by the financial regulatory entity was required to apply, and the company based in Germany, “did not have it.”
“Benefits in South Africa” and “reimbursement”
“We want you to understand one thing. The feedback we received in your emails, as well as the personal financial disaster and much more that everyone involved in the project has experienced, is the responsibility of the owners. And we, the team that has been The co-culture idea came up, we feel the bitterness of it all. Unfortunately, we cannot turn back the clock and we cannot erase the day we signed up to work with Friedrich Graf von Luxburg Carolath.”
In it, they count as a way of generating “confidence” that they will generate profits from the sale of a new crop in South Africa. “Funds equivalent to €5,500,000 to service the deal will come from us, the initial team that has been with all of you since day one of the platform,” they state.
The “supposed” reimbursement format goes through following a procedure that the same company has generated. They ask to send an email with a video message from the grower, the amount of money to recover, the DNI and indicate that the refund can only be made through the Ethereum network.
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