EGCM Emirate Global Capital Markets Newsletter No. 72
Dear Clients,
Europol Action: Nine Suspects Arrested in Case of False Cannabis Investments
A joint investigation by European law enforcement agencies, supported by Europol and Eurojust, has led to the arrest of nine suspects in connection with the “JuicyFields” cannabis investment fraud, Europol announced today.
During the investigation, €4.7 million was seized or frozen in bank accounts, €1.515 million in cryptocurrencies, €106,000 in cash, and €2.6 million in real estate. Police also confiscated luxury vehicles, artworks, cash, luxury items, electronic devices, and documents.
According to court estimates, the total damage amounts to €645 million, but Europol believes the actual damage may be significantly higher. Approximately 550,000 participants, mostly European citizens, were registered as online investors, with 186,000 participants transferring funds into a Ponzi scheme that was active from early 2020 to July 2022.
The suspects, mostly of Russian nationality but also Dutch, German, Italian, Latvian, Maltese, Polish, Jordanian, American, and Venezuelan nationality, used social media advertisements to lure victims to their websites. These platforms offered false opportunities to invest in the cultivation, harvesting, and distribution of cannabis for medical purposes, promising high profits without guarantees.
Europol assesses that criminal networks often add new illegal practices to existing illicit activities, especially during periods of regulatory changes, leading to the promotion of false low-risk and high-profit investment opportunities.
Recently, there has been an evident increase in the fight against cybercrime, so we rightfully expect the EGCM case to be addressed soon.
Zoran Miljakovic
Attorney at Law
Poštovani klijenti,
Akcija Evropola: Uhapšeno Devetoro Osumnjičenih u Slučaju Lažnih Investicija u Kanabis
Zajednička istraga evropskih organa za sprovođenje zakona, uz podršku Evropola i Evrodžasta, dovela je do hapšenja devetoro osumnjičenih u vezi sa prevarom “JuicyFields” u investicijama u kanabis, saopštio je Evropol.
Tokom istrage zaplenjeno je ili zamrznuto 4,7 miliona evra na bankovnim računima, 1,515 miliona evra u kriptovalutama, 106.000 evra u gotovini i 2,6 miliona evra u nepokretnostima. Policija je takođe zaplenila luksuzna vozila, umetnička dela, gotovinu, luksuzne predmete, elektronske uređaje i dokumente.
Prema sudskim procenama, ukupna šteta iznosi 645 miliona evra, ali Evropol procenjuje da stvarna šteta može biti znatno veća. Oko 550.000 učesnika, uglavnom evropskih državljana, registrovano je kao onlajn investitori, a 186.000 učesnika je prenelo sredstva u Ponzijevu šemu koja je trajala od početka 2020. do jula 2022.
Osumnjičeni, uglavnom ruske, ali i holandske, nemačke, italijanske, letonske, malteške, poljske, jordanske, američke i venecuelanske nacionalnosti, koristili su reklame na društvenim mrežama da namame žrtve na svoje veb stranice. Platforme su nudile lažne mogućnosti za ulaganje u uzgoj, berbu i distribuciju kanabisa za medicinske svrhe, obećavajući visoke profite bez garancija.
Evropol ocenjuje da kriminalne mreže često dodaju nove nezakonite prakse na postojeće ilegalne aktivnosti, posebno u periodima promena regulatornih okvira, što dovodi do reklamiranja lažnih niskorizičnih i visokoprofitabilnih mogućnosti ulaganja.
U poslednje vreme očigledno je da se pojačava borba protiv cyber kriminala, pa opravdano očekujemo da će i slučaj EGCM uskoro doći na red.
Advokat Zoran Miljaković