JuicyFields Cannabis Scam: New Arrests and Findings Made in 645 Million Euro Fraud Investigation

New revelations in the 2024 JuicyFields cannabis scam that swindled investors out of €645 million have thrown up grave questions regarding the extent and scope of international involvement. It is one of the largest financial frauds ever, involving almost 200,000 people who were attracted to investing in medicinal cannabis. DW's Cannabis Cowboys podcast had first unearthed this scam in 2023, but new European investigations have revealed much about the working behind JuicyFields.

The investigation has led to the arrest of Sergej B., a Russian national believed to be the mastermind of JuicyFields. His arrest in the Dominican Republic in April 2024 marked a pivotal moment, as authorities linked him to previous large-scale frauds involving waste recycling and cryptocurrency. Sergej B.'s involvement has sparked further suspicions about whether he acted alone or with external support.

The most interesting finding is the possible connection between JuicyFields and the Russian state. Investigative journalist Gabriela Keller from Correctiv.org found that a key figure in the JuicyFields network, Vitaly M., was registered at the Russian House of Science and Culture in Berlin. This raises questions about possible political protection and whether the Russian state may have played a role in shielding the fraud.

Adding complexity to the case is Swedish lawyer Lars Olofsson, who presented himself as the 'savior' of the victims offering class action lawsuits. Research has uncovered that Olofsson, who charged victims €100-150 for representation, has a history of crimes, including time served in prison for economic crimes. Olofsson's attempts at profiting from the scam have been criticized; many of his legal actions were dismissed by Swedish courts.

Authorities in Berlin, Madrid, and other European cities are still studying the material taken during the 2024 raids. Yet, no charges have been brought so far, as prosecutors try to reconstruct the gigantic web of fraud, which involved thousands of investors and left many wondering whether JuicyFields was a one-off operation or just a part of a much larger criminal network.