Warnings
Investors had been warned of Juicy Fields – operating as Juicy Holdings B.V., Juicy Fields AG and Juicy Grow GmbH – being a possible scam as early as January 2022, when alert site TBBOB carried out a Juicy Fields review, warning investors that “something is not right” and to “beware”.
Further warnings also seeped through Reddit and YouTube early in 2022, with users warning others about the company’s promises for rapid, high return on investments.
As well as the fine from BaFin, Juicy Fields was also warned against by the Spanish National Securities Market Commission.
Juicy Fields’ eGrowers are now banding together to launch class action lawsuits against Juicy Fields, with many attempting to go through the banks to get their money back. Some investors have claimed that a number of banks had not warned customers but that some sent emails and rang customers to say that the transfers they were making to Juicy Fields were questionable.
It is also claimed that the company used banks in Cyprus, Lithuania and Germany.
In a published YouTube video, Neumann claims that the alleged owners of the juicyfields.io platform have moved funds to two banks: iSX Payment Services Bank in Cyprus and UAB Violet in Vilnius, Lithuania, stating that legal action will also be taken against these banks.
At the time of publication, Cannabis Wealth is awaiting comment from a number of banks.
Sweeden-based lawyer, Lars Olofsson, CEO of PrioStartup, claims his company will be taking on the investors’ case for an out-of-court settlement against the banks. Olofsson says the company is not part of the Swedish Bar Association, but that this allows the company to take settlements rather than charging each client individually by the hour.
Olofsson told Cannabis Wealth: “We have been working around the clock to come in contact with as many people investors as possible. I have identified around 30,000 investors and it could be more. It’s told to me that in Germany there are 11,000, in Portugal it’s about 5000 people, almost as many in Spain, and then there are a number of investors in the UK. I have had telephone calls from Wales, from England, from Scotland, Northern Ireland and Ireland, as well as France and all the other major countries in Europe.
“If we don’t succeed in this case, we’re not going to be paid, and that’s one very important factor. We are telling all our clients that we are in the same situation as them.
“I’m going to go mainly for the banks. My strategy is to go to those who actually facilitated this. One facilitator is definitely the banks. I would say that on average, every investor has made six or seven transactions. It’s not just one transaction. Many of them have had some kind of automatic withdrawal from their account each and every month.
“Quite a lot of the investors have done the transferring or payment by cryptocurrency. It’s my feeling so far, that about half of the investors used cryptocurrency and half of them used normal fiat money.”
Olofsson told Cannabis Wealth that those who invested using a cryptocurrency will fall under a second tier of claim due to the complicated nature of using these currencies.
