Articles under ‘OneCoin’:

Confirmation of Ruja Ignatova’s arrest yet to surface

As I write this, official confirmation of Ruja Ignatova’s arrest has yet to surface. Reports out of Germany are conflicting, with authorities yet to issue an official statement.

Ruja Ignatova arrested in Germany, report Bulgarian media

Despite OneCoin being in turmoil following a disastrous ICO that’s not an ICO announcement, there hasn’t been a peep out of management. With Pierre Arens walking out last month, it was expected that at some point Ruja Ignatova would come out of hiding to address OneCoin affiliates. That hasn’t proven to be the case, with [Continue reading…]

OneCoin’s Golden Gate Investments ICO is a sham

By definition, an ICO is an unregulated means by which funds are raised for a new cryptocurrency venture. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin. Further differentiating itself from legitimate cryptocurrencies is OneCoin, who claim their [Continue reading…]

Five OneCoin affiliates arrested in Korea, crackdown continues

Whereas we’re usually pretty on top of OneCoin affiliate arrests globally, this one from back in June slipped through the cracks. Since the start of this year, Korea’s Financial Supervisory Service has opened 27 investigations into cases of suspected infractions of the Act on the Regulation of Conducting Fund-Raising Business Without Permission this year. One [Continue reading…]

OneCoin CEO Pierre Arens quits, Ruja Ignatova not seen for months

When Pierre Arens failed to appear at a recent OneCoin event in Portugal, host Kari Wahlroos claimed it was because he had a cold. Far more likely is the fact that Arens was well underway with plans to abandon his position as OneCoin CEO.

OneCoin affiliate a suspect in Finnish financial crime case

Finland was one of the first countries to announce a OneCoin investigation. Unfortunately Finnish authorities put investigating the Bulgarian Ponzi scheme in the “too hard” basket. Naturally the Ponzi problem didn’t go away, and people in Finland continued to be recruited into and scammed by OneCoin and its affiliates. With complaints from the public continuing [Continue reading…]

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…]