Implementers of a large-scale fraud scheme were arrested in the international Europol operation. Detention was also carried out in Latvia

About 400 law enforcement officers participated in the raids in Europe and the Dominican Republic on Thursday. The operation targeted the “JuicyFields” fraud scheme.

Police arrested suspects in Britain, Germany, Italy, Latvia, Spain and the Dominican Republic, where one of the main suspects was arrested.

“According to court estimates, the total losses resulting from false investments in the advertised crowdfunding platform for growing cannabis amount to 645 million euros,” Europol said.

Between 2020 and 2022, JuicyFields enticed customers to invest just 50 euros to buy a cannabis plant online in so-called “e-growing opportunities”. The website claimed to connect investors with medical cannabis producers, promising annual returns of 100% or more, and initial investors were paid double the investment amount, Europol has revealed.

“Motivated by these financial benefits, many investors raised their rates and paid hundreds, thousands or in many cases even tens of thousands of euros,” the police agency said.

“The platform appeared credible because it was not only represented in the digital environment, but also maintained the image of a reliable legal business entity with physical offices, staff and representation at cannabis industry events,” Europol explained.

However, in July 2022, “JuicyFields” suddenly stopped operating, freezing withdrawals. The police received many reports of fraud and carried out a complex coordinated investigation involving agencies from various European countries.

The police operation on Thursday also seized cash, luxury vehicles, artwork and other luxury items, as well as freezing millions of euros in bank accounts and cryptocurrencies.