JuicyFields, a pyramid scheme for cannabis investment that guaranteed its clients returns of up to 66% in just three months, froze cash withdrawals, removed their profiles from social media networks and those responsible disappeared without a trace, reported elDiario.es.
“The project has proven to be a textbook pyramid scheme, but this time with the attractiveness that a booming sector such as cannabis represents for many investors,” the Spanish media reported. Meanwhile, tens of thousands of investors worldwide saw their savings disappear in a flash.
Youtubers, Influencers And The Promise Of Getting Rich Overnight
Through an aggressive campaign on social media – including dozens of YouTubers, influencers and cannabis events – the company managed to position itself in public opinion by promising astronomical returns. Based in the Netherlands, JuicyFields presented itself as a “collective farming platform,” even though Dutch financial regulators had warned about a “possible scam.”
The web platform allowed, without requesting a single identity document, people to invest up to 180,000 Euros via bank transfer or cryptocurrencies. The investment was supposedly intended to grow marijuana plants in legally authorized companies. In theory, after 108 days the plant would be harvested and sold, amortize the investment plus interest that ranged between 33% and 66%.
On Monday July 11, a group of company workers announced they were going on strike for non-payment of wages….
