Category: News

Cannabis investments have experienced a real boom in recent years. Thus, even non-experts of the hemp industry and small investors could benefit from an extremely profitable and tempting business. In addition to the shares of cannabis companies traded on the stock exchange, for some time now dubious companies have also been offering cannabis cuttings for sale, which are supposed to produce dreamlike yields when harvested – crowd growing is the name of this enticing principle.

IG Hemp, August 2023 (As a member of IG Hemp, we also publish this scam warning on our blog).

The offers of these companies are obviously formulated to circumvent local financial market laws. For example, plants, crops, plant sites are sold (i.e. financial investments disguised as goods or services), sometimes lifetime incomes are promised with completely illusory returns. At least most of these offerings are pretty clearly prohibited Ponzi schemes or Ponzi pyramids, with new investors being paid with the deposits of old investors. This is the only way to explain the unrealistic returns.

For example, on July 1, various media portals reported that the JuicyFields company was an “exit scam” and that the Ponzi snowball scheme had collapsed, while millions of dollars in investor deposits had disappeared. An “exit scam” is a type of fraud in which someone collects advance payments for goods or services to be delivered while the business is in operation, without providing the agreed-upon consideration, and after a period of time, disappears with the customers’ money.

In the meantime, both in Switzerland and abroad, there are more and more companies that rely on exactly such a model and do not shy away from using the logos of associations and companies as references without permission. An example of this is the company “Budbird” or Green Agrotrade AG. IG Hemp has already asked this company several times in writing to remove the logo of our association from its website and from the company presentation, unfortunately without success.

IG Hanf – the trade association of the Swiss cannabis industry – advises investors considering an investment in cannabis companies to always subject them to close scrutiny in advance and to consult a professional advisor if necessary. For example, one should never invest in a company without knowing the latest financial statements, including the auditor’s report, or the business plan and strategy.

Currently, IG Hemp is receiving an increasing number of inquiries about other domestic and foreign companies that operate a similar business model to JuicyFields.

More articles about JuicyFields and other companies that suggest equally good investments can be found on the following pages:
– https://www.tagesanzeiger.ch/wie-schweizer-cannabis-investoren-ein-vermoegen-verloren-228525154624
– https://www.dw.com/de/exit-scam-und-betrug-mit-cannabis-bei-juicyfields-stehen-tausende-anleger-vor-gesperrten-konten/a-62551560

About IG Hemp
IG Hanf is the trade association of the Swiss cannabis industry. It represents its members vis-à-vis politicians, authorities and the public. In doing so, it promotes exchange and cooperation among members, thereby strengthening the cannabis industry in Switzerland.

Their mission is to create a regulated cannabis market to ensure Switzerland is at the forefront of the global cannabis industry. IG Hemp sets new standards for its members and the industry. First and foremost with the quality label Swiss Certified Cannabis, which guarantees reliable product and consumer safety. IG Hanf is also a founding member of the Cannabis Consensus Switzerland association, in which organizations and political parties jointly pave the way for an open and responsible approach to cannabis.

Further information: www.ighanf.ch | www.swiss-certified-cannabis.ch | www.ighanf.ch/ehrenkodex

At this point, we would like to emphasize once again that we firmly distance ourselves from such scams. The only thing we have in common with these crooks: You can invest with us, too! Of course, we offer maximum transparency instead of empty promises. We look forward to hearing from you: