Cannabis investments have experienced a real boom in recent years. Even those unfamiliar with the hemp industry and small investors have been able to profit from an extremely profitable and tempting business. In addition to the stocks of cannabis companies traded on the stock exchange, dubious companies have also been offering cannabis cuttings for sale for some time now, which are said to bring fantastic returns when harvested - this tempting principle is called crowd growing.
The offers of these companies are obviously formulated in such a way that they circumvent local financial market laws. For example, plants, crops, plant locations are sold (i.e. financial investments disguised as goods or services), sometimes lifelong incomes with completely illusory returns are promised. At least most of these offers are quite clearly prohibited Ponzi schemes or Ponzi pyramids, where new investors are paid with the deposits of the old investors. This is the only explanation for the unrealistic returns.
For example, on July 1, various media portals reported that the JuicyFields company was an "exit scam" and that the Ponzi scheme had collapsed, while millions of dollars in investors' deposits had disappeared. An "exit scam" is a type of fraud in which someone collects advance payments for goods or services to be delivered during the ongoing business operations without providing the agreed consideration and disappears with the customers' money after a certain period of time.
There are now more and more companies, both in Switzerland and abroad, that are relying on exactly this model and are not afraid to use the logos of associations and companies as references without permission. One example of this is the company "Budbird" or Green Agrotrade AG. IG Hanf has already written to this company several times asking it to remove the logo of our association from its website and from the company presentation, unfortunately without success.
IG Hanf – the Swiss cannabis industry association – advises investors who are considering investing in cannabis companies to always conduct a thorough review beforehand and, if necessary, consult a professional advisor. For example, you should never invest in a company without knowing its latest annual financial statements, including the auditor's report, or its business plan and strategy.
IG Hanf is currently receiving an increasing number of inquiries about other domestic and foreign companies that operate a similar business model to JuicyFields.
Continue reading articles about JuicyFields and other companies that suggest equally good investments can be found on the following pages:
https://blendbuster.com/tatort-juicyfields/
https://benedikt-lechner.com/author/benedikt/
https://www.tagesanzeiger.ch/wie-schweizer-cannabis-investoren-ein-vermoegen-verloren-228525154624