9 arrested in Europol operation for marijuana fraud worth 645 million euros.

Two criminal organizations linked to each other have been exposed promoting fraudulent investments and laundering profits estimated at €645 million. Eurojust has supported European law enforcement authorities, including Portugal, in tackling an estimated €645 million fraud involving fake investments in the medical use of cannabis, as announced by the European Crime Agency.

In a statement released on Friday, Eurojust reported that two interconnected criminal organizations were uncovered, which promoted fraudulent investments and laundered profits amounting to 645 million euros. As part of the operation against fraud, nine individuals were arrested.

Support from Eurojust

Eurojust reports on the support of the authorities in Germany, Spain, and France in establishing a joint investigation team for fraud.

• The fraud lasted from January 2020 to July 2022.
• The financial fraud scheme operated on the pyramid scheme principle.
• The companies involved in the scheme were used for money laundering.

A total of about 550,000 participants worldwide have been registered as online investors, the majority of whom are citizens of Europe. Approximately 186,000 participants transferred funds both through cryptocurrencies and bank transfers.

Operational Actions

At the request of German and Spanish authorities, recent operations have been carried out against criminal networks in Estonia, Latvia, Italy, Malta, Poland, Portugal, the United Kingdom, and the Dominican Republic. Searches were also conducted, and millions of euros in cryptocurrency assets and bank accounts were frozen.

• Europol sent agents with mobile offices to various locations around the world during the operation.
• Real estate, luxury cars, works of art, cash, and luxury items were confiscated.

The operation received support from Europol, which exchanged investigation results with the involved countries and provided important information.