$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 European law enforcement authorities, backed by Eurojust and Europol resulted in the arrest of 9 suspects of Russian, Dutch, German, Italian, Latvian, Maltese, Polish, Jordanian, United States and Venezuelan nationality, following the "JuicyFields" investment fraud case. A Ponzi scheme is an investment scam that makes payments to early investors with money coming from later investors thus creating an illusion of big profits while promising a high rate of return with little risk to the investor, according to Investopedia.
