16 million euros in damage: company bankrupt after fraud with cannabis plants

The Klagenfurt company “My First Plant”, which is suspected of fraud and money laundering, is insolvent. On Monday, bankruptcy proceedings were opened at the Klagenfurt regional court based on a creditor’s application, reported the Credit Protection Association of 1870. Initially, there was no information on assets and debts. The company’s managing director is one of the defendants in the EXW case, which involves a million-dollar fraud involving investments in cryptocurrencies

With “My First Plant” investors should invest in the cultivation of cannabis plants over the Internet in order to then benefit from profits from the cosmetics and medicinal plant industries. In reality, no plant was ever grown, according to the suspicion that the economic and corruption public prosecutor’s office is investigating. There are said to be 17,000 victims worldwide, and the total damage is provisionally estimated at 16 million euros.

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