JUICY Fields, a cannabis crowdfunding company offering investors outlandish returns, has collapsed in a characteristically complex and opaque fashion.
This collapse, while dramatic, has come as little surprise to many in the European cannabis industry who have long suspected the company of being fraudulent due to its lack of transparency and ‘promise of huge returns’.
Despite this widespread concern and Juicy Fields’ inclusion on numerous countries’ warning lists, many continued to sign sponsorship deals and take cash from the company’s relentless marketing efforts.
With thousands of investors now unable to access millions in funds, and numerous companies suddenly left without a sponsor, questions arise over how complicit the wider industry was in allowing the company to flourish.
What Happened to Juicy Fields?
There is still a great deal of uncertainty regarding what exactly has happened at Juicy Fields, who is responsible, and whether the entire business was indeed fraudulent.
As businesses and former employees scramble to distance themselves from the chaos, groups of investors are joining forces to share information and inform international authorities, seeing swathes of documents (few of which can be corroborated or confirmed as accurate) continue to emerge.
Below, we have constructed a timeline of events that we are able to verify.
BusinessCann will continue to track the ongoing developments at Juicy Fields, and will be publishing content as the story evolves. If you are an investor or business with any pertinent information regarding Juicy Fields, please get in touch with us here.
