Nine busted in $686M Ponzi scheme that targeted medical marijuana investors

Nine gang members have been busted around the world for swindling over $686 million from people in 35 different countries by getting them to invest in a non-existent medicinal marijuana business.

The Spanish National Police announced the arrests early Saturday in an X post and provided video footage of the busts.

Spanish authorities worked with Europol and the European Union Agency for Criminal Justice Cooperation in orchestrating raids on the suspect’s homes.

None of the nine suspects have been identified at this time. At least one of them is 42-years-old.