VIDEO - The Juicy Fields Ponzi Saga: Facebook, Forbes, Google, YouTube, CNN Now Being Sued?

Remember the recent massive Ponzi scheme organized by marijuana investment platform JuicyFields?

The pyramid scam that guaranteed 66% returns in three months then suddenly froze all cash withdrawals and deleted its accounts from social media? 

Yeah, that one. 

The real-life story about the fraud perpetrated on hundreds of thousands of people around the world has a new update. Swedish attorney Lars Olofsson is planning to file a class action lawsuit against several social and news media platforms, which, according to him, helped forward the scheme. 

“I'm now taking legal actions against Facebook META, Instagram, Forbes, Google GOOGL, CNN, and YouTube, to begin with,” Olofsson told Green Market Report. “All of them have allowed JuicyFields to expose themselves on their platforms or magazines, and not just normal accounts but paid ads.”

“Later on, I’m targeting the German, Dutch, Swiss and Cyprus governments for a gross lack of their financial authorities, having not seen what was going on,” Olofsson added. 

Olofsson says there were some 125,000 investor accounts on the platform at the time it collapsed, exposing the reality of massive fraud. Now, he's representing roughly 800 plaintiffs though he says the $2 billion-$2.5 billion in those 125,000 accounts is probably long gone. 

“I know they have run away with the money,” Olofsson said. “There is no use to find the money, that’s for sure.”

Even though there’s another class action suit representing 1,200 JuicyFields ripped-off clients filed in August in Spain, Olofsson doesn’t hold out much hope for it, partly because the people behind the scheme are yet to be identified. 

So, what's Olofsson's game plan? 

Check out Javier Hasse's take on this on Benzinga's Cannabis Insider:

https://www.youtube.com/watch?v=_MCLPAeK1Ws

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