$700M+ Medical Marijuana Ponzi Scheme With Over Half-Million Duped Investors Busted In Europe
A massive medical cannabis Ponzi scheme was dismantled in Europe on Thursday.
A joint investigation by EU law enforcement authorities, backed by Eurojust and Europol resulted in the arrest of 9 suspects of Russian, Dutch, German, Italian, Latvian, Maltese, Polish, Jordanian, US and Venezuelan nationality following the so-called “JuicyFields” investment fraud case.
The massive April 11 bust included the collaboration of 400 law enforcement officers across 11 countries.
The two linked criminal organizations behind the online advertisement scheme laundered profits that totaled roughly EUR 645 million ($692.2 million), per judicial estimates al although Europol said “actual and unreported damages could be significantly higher.”
The move comes shortly after Germany legalized recreational cannabis, a topic that will surely be discussed at the upcoming Benzinga Cannabis Capital Conference …