More than a thousand Spaniards filed a complaint on Monday for fraud. They thought they were investing in cannabis and had their money stolen by a company based in the Netherlands.
The Dutch company offered to buy therapeutic cannabis plants online, with an attractive promise: a return on investment ranging from 29 to 66%.
At first it actually works. The first investors receive their money. According to the plaintiffs, the alleged purpose is to spread word of mouth. Because there would be no cannabis plant or real earnings, existing customers would actually be paid with new entrants’ money. It’s a classic scam scheme called a “Ponzi scheme”.
But on July 13, the pyramid collapsed. The Dutch company’s website is blocked with Spanish money. Unable to retrieve it, all funds are gone. The 1,200 plaintiffs lost an average of 6,500 euros each. But some losses would go up to 200,000 euros.
Many other Internet users have been scammed all over Europe. A first complaint has already been filed in France.
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