The former ASX-listed firm is linked to the implosion of cannabis investing platform Juicy Fields.
Exiled Australian fintech iSignthis has been ensnared at the centre of the collapse of one of Europe’s largest Ponzi schemes after the former ASX-listed firm was linked to the implosion of cannabis investing platform Juicy Fields.Established in 2020 with offices in Germany and the Netherlands, Juicy Fields enticed tens of thousands of customers with the promise of gargantuan returns by connecting investors with small-time marijuana crop growers.
The new European-based company, led by John Karantzis, is the product of a demerger of most of iSignthis’ operations last year, with the new organisationafter a travel ban was lifted on the executive stemming from an Australian Taxation Office lawsuit that alleged a $10 million unpaid tax bill.Investors in JuicyFields appear to have been directed to deposit funds into accounts at two banks. One was ISX Pay. The other was a Lithuanian institution Via Payments UAB.
The documents claimed Mr Karantzis told them payments of €500 million had occurred since the account was set up. Mr Karantzis said the suggestion €500 million was sent through its systems is “wildly over exaggerated”. Swedish lawyer and businessman Lars Olofsson said he plans to launch a claim against financial institutions that allegedly enabled investments in JuicyFields.
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