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Juicy Fields ‘Splinter Group’ Claims To Be Raising New Funds To Refund Victims, But Investors Warned Not To Share Details

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As everybody suggests.. tread extremely carefully

BusinessCann reports

LAST month a new iteration of Juicy Fields, dubbed Juicy Fields DAO (Decentralised Autonomous Organisation), contacted BusinessCann directly to inform us of a supposed new refund initiative, which it says has seen €367,014 reimbursed to 56 investors.

This new entity claims to be a ‘splinter group’ of volunteers and supporters who have banded together with the ‘sole mission to restore the platform’s operations, honour and investment’.

The so-called ‘Emergency Refund Group’ provided a number of email screenshots as evidence that these refunds had indeed taken place, which are also published on the company’s website.

Investors urged to remain cautious

BusinessCann has so far been unable to corroborate any of this evidence and has been unable to find anyone who can confirm the receipt of any funds from the company.

When asked if he was aware of any victims that had received a refund in his class action lawsuit, now understood to include around nearly 1,000 victims, Swedish lawyer Lars Olofsson told BusinessCann: “One of my clients has said that he has received money back. I’ve asked him if he could show me, and he has then refused. So, I’m not totally convinced.”

The Asociación Afectados Inversiones CBD, an organisation representing 1,050 victims in a class action lawsuit in Spain, told BusinessCann that its advice to investors considering signing up to the refund scheme is ‘never believe the scammers’.

“Taking into account our experience in this kind of case, the scammers are never going to send the money back to the affected people. Because we are talking about money that can be tracked by the authorities, they won’t give any clue to the courts.

“Never send personal information to the scammers, because they are just trying to gain time and, if they can, get more money and information from the JF investors to sell.”

For the first time since BusinessCann began investigating the Juicy Fields case in July 2022, the group has responded to our questions regarding its recent claims.

The 56 refunds that the group claims to have issued were reportedly selected based on how vulnerable the victim is and whether they are able to provide ‘relevant documents confirming the fact’.

Asked where the money for these refunds has been sourced from, the group said: “Part of the operating capital balance is in cryptocurrency. As the platform’s user base and fund turnover increased, the platform has always maintained a pool of funds in three cryptocurrencies to ensure minimal delay in withdrawals (a reserve fund).”

Bankruptcies

However, this reserve fund is reportedly being used to ‘pay for emergencies’ only, while Juicy Fields’ central funds ‘are frozen in bank accounts’ since the company officially entered insolvency.

On November 4, 2022, Juicy Holdings BV, part of the wider business registered in the Netherlands in 2021, was declared bankrupt by the Amsterdam District Court.

The administrators, CMS Law, say that ‘conducting an investigation into the causes of the bankruptcy’ is one of its primary tasks, one that it says ‘will take a long time given the complexity of the bankruptcy’.

Crucially, this means that not only are there no longer any funds available for the supposed refund team to dish out, but any creditor claims against Juicy Fields will now have to go via the Dutch courts.

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Juicy Fields ‘Splinter Group’ Claims To Be Raising New Funds To Refund Victims, But Investors Warned Not To Share Details



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Massachusetts: Office of the Inspector General Publishes Press Release Re Appointing A Receiver To Manage State’s Cannabis Commission

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Independent journalist Grant Smith Ellis  writes today to linked in

Press release from Massachusetts Inspector General confirms that a decision in June of 2024, by three CCC Commissioners, to strip the powers of acting agency Executive Director Debbie Hilton-Creek led to today’s emergency hearing request on Beacon Hill.

 



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Movie Time In Oregon. Special Screening of Frenchy Dreams of Hashish

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CHEECHABLE & OG EMPIRE PRESENT:

A SPECIAL 7/10 with FRENCHY CANNOLI! We are pleased to announce a special screening and Oregon premier of the movie Frenchy Dreams of Hashish, a documentary by Jake Remington. Frenchy Dreams of Hashish showcases master hashishin Frenchy Cannoli’s lifelong pursuit of perfect hashish and highlights the ethos of sustainable, sun-grown cannabis. Join us as we celebrate the art of making hash and honor the late master, Frenchy Cannoli. Get your tickets here!

 



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Curaleaf Start Process Of Getting Their Claws Into The UK’s National Health System – With Former MP (Resigned Today 30/5/24) As The Front Man

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It’ll take a while but the business plan to get Curaleaf products available via the NHS starts here…and the front man is  now former Conservative MP George Freeman

See the press release dated 28 May (scroll down)  about his involvement and and what a surprise

30 May 2024

George Freeman is no longer a Member, but was most recently the Conservative MP for Mid Norfolk, and left the Commons on 30 May 2024.

https://members.parliament.uk/member/4020/career

 

 

 

Positioned at the heart of the life sciences sector, the Cannabinoid Research & Development Group UK is a new research strategy group led by academics, researchers, clinicians, patients and industry.

The group will propel scientific research and development of pharmaceutical cannabinoid-related products in the UK.

Our ambition is to develop and implement a comprehensive strategy to transform the UK into the global leader in cannabinoid research and medicine development.

We will build a robust ecosystem by integrating universities, research institutions, investors, businesses, and the NHS – driving innovation and development, nurturing top talent and fostering advances in healthcare.

 

 



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