Over Christmas and New Year’s, people behind the supposed “reboot” of the company claim that they are now operating as a decentralized autonomous organization, and that the operators of the same had no connection to the previous company. Say what?
As scams go, the Juicy Fields saga has been quite unbelievable – and in a number of ways. Not the least of which is what is now apparently happening in the reconstituted “company.” Namely, over Christmas and New Year’s, former investors in Juicy Fields began receiving emails claiming the following.
The first was that the organization claimed to have reorganized as a “DAO” – Decentralized Anonymous Organization – because of the supposed need to create a ‘proxy’ organization to act as a beneficiary with regards to the ‘cooperation agreements’ set up with cannabis producers and a centralized authority to avoid the situation that occurred with the previous ‘centralized’ project. Power to the people, right?
The company also has specifically claimed that the “media and lawyers” are spreading false information about this new regrouping, and are even going so far as to post job openings on the website.
It is hard to understand why anyone would believe this, especially as the company is now in insolvency proceedings in Berlin and under investigation in multiple countries, by authorities and others.
Regardless, it also appears that the people behind the new version of the scam, perhaps the same ones that appeared in this “investor communications” video, appear to believe that there are still suckers out there.
One thing is for certain. This is still a fraud, and still fails to be in compliance in any way. As a very simple example, even the revamped company’s impressium page is not in compliance with German law, as there is no address, phone number or other required information for firms with websites here, despite the claim, on the same page, that everything they are doing is “entirely legal.”
Why Juicy Fields DAO Is a Total Fraud: Part II
For those with less formal understanding of both cryptocurrency if not the Juicy Fields premise, here are the top reasons this is not only ludicrous, but actually criminal. Having a Linked In or other social media profile does not a legitimate company make.
- Juicy Fields’ contracts with producers (and distributors) were never properly executed or implemented. There are in fact no agreements with the company, in any of its iterations that are valid. There is also no way to make the kinds of returns promised by the company if one is operating in the legal medical cannabis space. See the financial issues if not meltdowns of even the biggest names in the industry of late.
- Juicy Fields itself is now considered by authorities and lawyers representing scammed investors in multiple countries to be an organization that, at minimum, defrauded investors. There is no walking back from that, no matter who is in charge.
- A “decentralized” organization essentially means that the people behind the next iteration of the scam have no intention of following regulations that are required in this space. Starting with the fact that you cannot just take over the website of a defunct organization now in insolvency proceedings. Technically, the website, as an asset of the defunct company, belongs to creditors now filing complaints and criminal charges against the company.
- The tokens the company is supposedly issuing, or trying to issue, are worthless.
Bottom line? Do not believe the lies. This is just another aspect of the exit scam. Nobody is going to get their money back this way.
If you don’t believe me, check out this interesting post from anwalt.de, a website helping to connect clients with lawyers across Germany.
And if you want a real chuckle, check out the “new whitepaper” now online at the revamped site.