New Juicy Fields Suspect To Be Extradited To Spain
A Russian national held in Estonia will be transferred temporarily from Estonia to speak directly with investigating authorities in Spain
In breaking news on the Juicy Fields fraud investigation, a new suspect is being extradited to Spain after losing an appeal by his lawyers to phone it in from Estonia. The Russian national is being investigated on separate charges in three different European countries right now.
This latest extradition comes on the heels of the alleged founder of the scam, Sergei Berezin, being transferred from the Dominican Republic last month.
The Central Court of Instruction Number 6 of the Audencia Nacional issued the extradition order on September 18.
The unnamed individual is alleged to have received over 36 million euros from the scam.
According to Swedish lawyer Lars Olofsson, who is leading international private prosecutions against facilitators of the scam as well as helping authorities, “It is a sign that authorities are moving forward with a large, coordinated and targeted effort to track down the perpetrators. We are committed to working with them at every step of the way as we continue to advocate for justice for our clients.”
What Was Juicy Fields?
The Juicy Fields scam was one of the largest cannabis investment frauds so far in the burgeoning industry globally. It began in 2020 as an online platform that offered investors the chance to participate in the booming medicinal cannabis industry in Europe. Operating under the guise of a legitimate business, Juicy Fields claimed to allow everyday people to invest in the cultivation of cannabis plants, promising significant returns from the sale of cannabis crops. Investors could choose various "grow plans," which allegedly funded the planting and harvesting of cannabis, with profits distributed over a few months.
Juicy Fields attracted tens of thousands of investors by heavily marketing itself as a crowdfunding platform for legal cannabis production. Promoted via social media, cannabis trade shows, and industry influencers, the platform capitalized on the growing global interest in legalized cannabis and the potential for financial returns. Investors from Europe, Latin America, and other regions were lured by the platform’s low entry barrier, with investments starting as low as €50. The promised returns were too good to pass up, with the platform guaranteeing profits as high as 66% on investments within a few months.
The Collapse: July 2022 Exit Scam
Despite the buzz and apparent success, signs of trouble began to surface by mid-2022. In July 2022, without warning, Juicy Fields suddenly stopped allowing withdrawals. Investors could no longer access their funds or track their supposed cannabis plants. Shortly after, the company’s website went offline, and key personnel disappeared from public view. This "exit scam" marked the collapse of the fraudulent operation, which had by then raised millions of euros from more than 186,000 investors globally.
Investigations soon revealed that Juicy Fields was always a Ponzi scheme. Contrary to its claims, the company never cultivated or sold cannabis on a large scale, nor did it operate any legitimate grow operations. The scam was initiated by the Russian mafia operating out of St. Petersberg.
The International Investigation
The unraveling of Juicy Fields prompted a massive cross-border investigation. Law enforcement agencies across Europe, led by Europol and Eurojust, quickly launched a coordinated effort to track down those responsible. Countries like Germany, Spain, France, and Estonia played key roles in these investigations. Raids have been carried out in multiple countries, with authorities seizing millions in assets, including cryptocurrencies, real estate, and luxury goods.
As of 2024, at least eleven high-profile arrests have been made, including key figures associated with the scam and multiple extraditions at this point.
Ongoing Legal Battles – Private Prosecutions Continue
While many of the masterminds behind the scam have been caught, the investigation is far from over. Authorities are working to trace the money and uncover additional accomplices. There is also growing scrutiny over the role of facilitators who may have helped promote or turn a blind eye to the fraud. Swedish lawyer Lars Olofsson and his team are continuing to fight for their clients in private prosecutions in multiple countries that are targeting facilitators, including not only banks, social media firms and others, but individuals.