Articles under ‘regulation’:

German Public Prosecutors investigating OneCoin reps for fraud

In the aftermath of BaFin’s regulatory ban of OneCoin on April 28th, promotion of OneCoin in Germany has come to a screeching halt. Yesterday, top German affiliate Udo Deppisch was forced to cancel two OneCoin events in Germany that had been organized prior to the ban: Not content with having thwarted the scheme locally, now the [Continue reading…]

Hungarian authorities put together massive OneCoin taskforce

The bad news for OneCoin continues, with the Hungarian Central Bank today announcing a joint investigation with various police departments and tax authorities.

Another $3.7 million in OneCoin funds seized in India

With the glitz of the Global Macau event come and gone, it’s back to reality for OneCoin affiliates. As authorities in India continue to investigate the scam, the latest development is another Rs. 240 million ($3.7 million USD) has been seized.

Traffic Monsoon Receivership to continue during appeal

Following the filing of an appeal by Charles Scoville, there’s been some uncertainty as to the status of the court-appointed Receivership. In particular, whether or not recovery efforts would continue while the appeal was being decided on. While distribution payments might not be possible pending the outcome of the appeal, the good news is the Traffic [Continue reading…]

Zeek Receivership updates for first quarter 2017

On May 1st the Zeek Receiver filed his first quarter Status Report for 2017. The report covers settlements received, US and foreign net-winner clawback litigation, various insider lawsuits and the aggregate amount paid out to Zeek affiliates thus far.

SEC granted default judgement against Trudy Gilmond

Trudy Gilmond’s theft of over $2 million dollars from Zeek Rewards victims saw the SEC file legal action against her in 2015. The case progressed throughout 2015 and in early 2016 Judge Mullen scheduled a trial for September, 2017. Not much has happened since then, prompting the SEC to file for a suspension of the current [Continue reading…]

18 arrested OneCoin scammers remanded to Indian police custody

Following the arrest of eighteen OneCoin affiliates in Mumbai, India last weekend, a Judicial Magistrate remanded the accused to judicial custody. As I understand this limits police access to the accused, Mumbai police filed a petition to have the scammers remitted to police custody.

Judge doesn’t buy Beverly Trca-Kitchen’s sob story (Zeek Rewards)

Back in January the Zeek Rewards Receiver filed for summary judgment against Canadian net-winners. Beverly Dawn Trca-Kitchen was one such net-winner, with the Receiver alleging she stole $314,228 from victims of the scheme. This figure was arrived at after forensic accounting was conducted on the Zeek Rewards backend. Trca-Kitchen however paints a different picture.

OneCoin’s Steinkellers linked to mafia violence, threats & murder

The Steinkeller brothers are currently the second biggest earners in the OneCoin Ponzi scheme. Second only to Juha Parhiala, the brothers head up “One Dream Team” and are routinely trotted out at OneCoin events. Hailing from South Tyrol, a province in northern Italy, the Steinkeller brothers are purportedly well-known to local authorities. According to the [Continue reading…]

OneCoin under criminal investigation in Thailand, Juha Parhiala?

Following an investor warning from the Bank of Thailand, it has emerged OneCoin is under criminal investigation in Thailand.