On January 19, 2023, DW launches Cannabis Cowboys, its first investigative podcast.
The eight-part true crime series is about a cannabis investment platform called JuicyFields that has affected thousands worldwide. For more than two years, the Berlin-based start-up collected huge amounts of money from from internet users, promising huge returns through investments in medicinal cannabis.
DW business reporters Andreas Becker and Nicolas Martin had an early hunch that something was wrong. Becker and Martin thought the promised rates of return were good to be true.
So, they decided to investigate. At the time, JuicyFields was paying its investors on time and company managers were free to meet the press. Investors were euphoric and the power of social media helped JuicyFields grow fast.
A classic exit scam?
Then, in the summer of 2022, the house of cards collapsedbefore Becker and Martin’s eyes. The platform went dead, and content on the company’s social media channels was deleted. Thousands of investors in dozens of countries were blocked from their accounts — and still can’t access their money today.
One investor in Germany, we call him Eddie, invested 80,000 euros. Daniel Johansson from Sweden deposited 350,000 euros with JuicyFields. They told us their stories, through the highs and the lows.
The extent of the total damage is unclear. Police say it could be hundreds of millions of euros, other estimates run into the billions.
