Articles under ‘OneCoin’:

Italian OneCoin affiliates provided letter template demanding refund

The OneCoin affiliate investor pool is currently divided into two camps. The first group of investors are those who believe the points in their backoffice are actual money. Since inception, all OneCoin affiliates have been able to do with their points is transfer them to other affiliates. Under the guise of trade with third-party merchants, in [Continue reading…]

Peru issues Pay Diamond, OneCoin, CoinSpace & MMM Global warning

Peru has grouped some of the top MLM Ponzi schemes doing the rounds and issued a collective consumer warning. The warning was issued on September 9th by Superintendencia De Banca, Seguros & AFP (SBS), Peru’s top financial regulator.

Third Chinese OneCoin affiliate arrests uncovered, $1.2 million in losses

Up until recently BehindMLM was aware of and reported on two separate arrests of Chinese OneCoin affiliates. The first arrests took place in April, 2016, around the time OneCoin intended to hold a “grand ceremony” event in Harbin (north China). The event was quietly dropped following a raid on a OneCoin promotional event in Guandong [Continue reading…]

OneCoin pyramid scheme warning issued by Polish regulator

A year ago Poland’s Ministry of Justice received a public enquiry regarding OneCoin. The enquiry sought to establish whether OneCoin was potentially beaching Polish banking laws. A subsequent investigation into OneCoin by the National Prosecutor’s Office uncovered potential breaches of “unfair market practices”. The investigation findings were forwarded to the Office of Competition and Consumer [Continue reading…]

OneCoin registered with the Pakistani SEC?

In what appears to be a response to the State Bank of Pakistan and Federal Investigation Agency announcing a crackdown on OneCoin, affiliates in Pakistan are claiming OneCoin has registered with the Pakistani SEC. Just one small problem though… it hasn’t.

35 Chinese OneCoin affiliates arrested, jailed & fined

Early last year Chinese authorities in Guandong arrested three top Chinese OneCoin affiliates. The arrests eventually lead to the recovery of $45.7 million dollars in stolen funds. In what appears to be a related investigation north of Guandong in Hunan province, thirty-five OneCoin affiliates were recently arrested.

OneCoin affiliates claim IPO dropped, ICO to take place in Oct, 2018

In the wake of declining affiliate recruitment and continued silence from OneCoin management, Muhammad Zafar and his troop of top UK OneCoin investors descended on Sofia, Bulgaria for answers. OneCoin founder Ruja Ignatova wasn’t there to meet them. Upon learning top investors were coming to Bulgaria to demand answers, Ignatova fled the country. Explains Zafar; [Continue reading…]

OneCoin to exclude Chinese investors from ICO, no refunds?

Earlier this week the Chinese government announced it was banning Initial Coin Offerings (ICOs). The move is understandable as, while some might be legit, by and large cryptocurrency ICOs were and continue to be a front for financial fraud. Those running them make promises based on nothing and gullible investors hand over their money (pumping [Continue reading…]

Belize issues second OneCoin warning

In what appears to be a followup to their initial warning back in March, Belize’s International Financial Services Commission has issued a second warning against OneCoin.

OneCoin warning issued by Luxembourgian financial regulator

In a (very) brief publication, Luxembourg’s Commission de Surveillance du Secteur Financier has issued a warning against OneCoin.