JuicyFields’ Alleged Ponzi Scheme May Be The Biggest Scam In The Cannabis Industry

A cannabis investment platform operating worldwide promised high returns to invest in cannabis plants cultivated by top cannabis industry giants.

Many so-called “e-growers” joined the company and invested in the cannabis crowdfunding platform.

But recent investigations suggest the company may have scammed hundreds of thousands of investors, running off with millions of dollars deposited in the company’s bank accounts through bank deposits and cryptocurrencies.

Here is what you need to know about JuicyFields’ alleged scam.

In recent weeks, several European news media outlets reported an alleged scam involving Juicy Fields, a cannabis crowdfunding platform. According to the journalism investigations, the company allegedly scammed its investors for hundreds of millions of dollars.

Established in 2020, JuicyFields offered a service where investors or, as the company called them, e-growers, could participate in the cultivation, harvesting, and sale of cannabis plants promising monthly returns between 6% and 14%.

JuicyFields claimed its platform had 500,000 users, mainly from Europe and Latin America.

Users could invest up to €180,000 (around $183,000) starting from €50 (around $51).

Money could be deposited and withdrawn via bank transfer or cryptocurrencies.

They could buy and sell plants, manage them in virtual greenhouses, and have their…