Articles under ‘OneCoin’:

BaFin clarify, OneCoin must cease and desist operations in Germany

In response to the German regulatory crackdown on OneCoin’s shell company IMS International Marketing Services, OneCoin issued a press-release claiming BaFin’s cease and desist did not specifically apply to OneCoin. Please be informed that the recently published BaFin message does not relate to OneLife or OneCoin’s Business, but to IMS GmBh. The company IMS is a [Continue reading…]

Malta issues OneCoin regulatory warning

Whereas some countries are taking a more proactive approach against OneCoin, others still grapple with a lack of regulatory authorization. The latest country to fall into the latter category is Malta, following a OneCoin warning issued by the Malta Financial Services Authority.

Norwegian Gaming Board mulls going after OneCoin affiliates

When a regulator tells OneCoin or one of its shell companies to stop operating in a country, OneCoin’s standard response is “but OneCoin doesn’t operate in that country!”. Technically OneCoin operates out of Bulgaria, through a shell Dubai incorporation. OneCoin was incorporated in Gibraltar but was kicked out late last year. In an effort to combat the [Continue reading…]

25,000 OneCoin victims in Germany, investor losses over $424 million

The fallout from BaFin’s freezing of OneCoin’s bank accounts in Germany continues, with more and more victims coming forward to report their losses. BaFin investigators have labeled OneCoin “one of the most dangerous money games of recent years”. The latest figures released by investigators on Thursday, April 13th revealed “at least” 25,000 investors Germany have [Continue reading…]

OneCoin investors arrested in Kazakhstan

According to an April 14th news report from Kazakhstan’s Tengri News, officers of the Economic Investigation Service in Astana have arrested several OneCoin investors.

Germany freeze OneCoin’s bank accounts, issue cease and desist

German authorities began investigating OneCoin mid last year. In the immediate aftermath of the investigation announcement, OneCoin lost its Deutsche Bank account. The conclusion of the investigation, led by the country’s top financial services regulator, saw remaining known bank accounts in the name of IMS International Marketing Services GmbH ordered frozen on the 17th and 20th [Continue reading…]

OneCoin Swedish police investigation resumed on March 17th

Late last week OneCoin published a press-release claiming Swedish police had closed their investigation into OneLife. ‘ Citing an unsourced “police statement”, OneCoin claimed police had “indicated” there was no basis upon which to continue the investigation as there was no reason to believe that an offense had been committed. The Police confirmed its decision [Continue reading…]

26,000+ OneCoin downline abandoned by “top leaders”

I don’t really follow chatter surrounding the bigger downlines of MLM companies too closely, but over the last few weeks OneCoin has been rocked by a series of high-profile departures. “Top Earner” David Imonitie, formerly of Organo Gold fame, joined OneCoin last October. For reasons he doesn’t go into, earlier this month Imonitie confirmed he [Continue reading…]

Is iPro Network a proxy for OneCoin’s US Ponzi scammers?

OneCoin, being the Ponzi scheme that it is, was never going to risk launching in the most tightly regulated market in the world. Despite stringing early OneCoin investors along with promises of a US launch, the charade was quietly dropped in October, 2015. Spear-headed by Sal Leto, Maurice Katz and other affiliates, US OneCoin recruitment went [Continue reading…]

OneCoin facing fines of up to €5 million EUR in Italy

Back in December the Antitrust and Consumer Protection Authority (AGCM) ordered the suspension of OneCoin promotion in Italy. In early January OneCoin responded to the AGCM’s promotional ban by claiming they’d ‘never promoted OneCoin and/or OneLife in Italy‘. In late January police raids on recruitment events revealed OneCoin was still being promoted locally. This prompted the AGCM to [Continue reading…]