A 42-year-old individual has been apprehended for his involvement in an extensive international investment fraud. Appearing in Westminster Magistrates’ Court, he faced charges related to swindling £550 million from investors through his association with ‘JuicyFields’, described by the National Crime Agency (NCA) as a “notorious and elaborate Ponzi scheme”.
Operating from early 2020 to 2022, JuicyFields attracted over 500,000 individuals from various countries, offering investment opportunities in the cultivation, harvesting, and distribution of medicinal cannabis. More than 180,000 investors transferred funds, totaling £550 million. However, undisclosed damages could escalate the sum significantly. In July 2022, the scheme’s orchestrators abruptly vanished from social media platforms and blocked users’ access.
Prompted by numerous reports across Europe, a collaborative investigation ensued, resulting in the arrest of nine individuals and the search of over 30 properties on April 11, 2024. Substantial amounts of crypto assets and bank accounts have been frozen, along with the seizure of real estate properties, vehicles, artwork, cash, luxury items, electronic devices, and documents. 
The 42-year-old suspect from Atherstone, Warwickshire, held responsibilities such as salary disbursement and legitimization efforts for JuicyFields, including attendance at industry events. Following his arrest, electronic devices seized will undergo analysis. He appeared at Westminster Magistrates’ Court on April 11 for the commencement of extradition proceedings.
Tom Barford, NCA Branch Commander, emphasized the collaborative effort involved in tackling sophisticated criminal operations like JuicyFields, underscoring the devastating impact on victims and the need for coordinated action against serious and organized crime.
