Bank of Hungary calls out OneCoin pyramid scheme
Another day, another European regulator warns about OneCoin without actually doing anything about it.
The latest regulatory warning against OneCoin is another from the Central Bank of Hungary.
An advisory on the risk of cryptocurrencies dated December 20th singles out OneCoin as a pyramid scheme.
Among other things, the Central Bank of Hungary is charged with promoting the stability of Hungary’s financial system. The bank operates separate to the Hungarian government and is answerable only to the European Central Bank.
In A press-release titled “Increased risk accessing virtual currencies over the web”, the Central Bank warns cryptocurrencies are not regulated or monitored by Hungarian authorities.
The Central Bank differentiates between legitimate cryptocurrencies and OneCoin, which is singled out as a pyramid scheme.
There are some (that operate) like pyramids schemes (eg. OneCoin), which seem to permit investment in assets, which can only be traded via the issuer (of the coin) via a closed “stock market”.
The system is promoted over the internet and promises high yields to new recruits in such a way that payments by new participants are used to pay a commission to the person who recruited them.
The Central Bank claim they are “continuously monitoring” cryptocurrencies in Hungary, however all they can offer the general public is a warning.
Back in March the Central Bank warned OneCoin did not have regulatory permission to operate in Hungary.
On paper, OneCoin is primarily operated out of Bulgaria. From what little we’ve observed of OneCoin’s inner workings however, funds are laundered via a global network of shell companies.
Despite regulatory warnings from almost a dozen countries, Bulgarian authorities have yet to take any action against the scheme.
This was not the first time the Bank of Hungary warns about Onecoin:
behindmlm.com/companies/onecoin-investment-warning-issued-by-bank-of-hungary/
And now with the announcement of this guy: financemagnates.com/cryptocurrency/news/trump-picks-cryptocurrency-and-blockchain-advocate-as-budget-chief/
they think USA might be their next market following the facebook of Christian Goebels…who goes also from one scam “BONOFA” into the next one.
Ken Labile has been otherwise dormant when it comes to posting new OneCon videos to solicit his new victims, has just reposted a hilarious Dr. ScRudja video an hit ago, on the heels of this news about the second bank or govt body to REISSUE warnings AGAIN a second time against this scam, and immediately following the retraction of Onecoin’s laughable Sharia compliance issuance which have now been nullified.
youtu.be/K39mDsvH_Xk
In the video, the #KleptoQueen exerts efforts in emphasizing how both #OneCULT is “a family,” how it is “not just for the rich,” how it can “bank the unbanked (despite its alleged “built-in KYC”), and how it “never charges interest to its “users.”
She goes on to lie further about how it is a strong fit for Islamic banking (without addressing the elephant in the room, of course), and talks about how they are “thinking about how to introduce it as a micro-payment system and solution to economic inclusion,” despite OneCoin STILL not being divisible into smaller units (because without a blockchain such accounting practises would be cumbersome to allow and manage in their messy Excel Spreadsheets, of course).
Perhaps the 200+ IQ Founder of the fraud (at least since Nigel Allen has been allegedly long separated) is performing an experiment in quantum mechanics and parallel universes, wherein mathematics, economics, and deductions which are logically based in the real world, magically make sense to the world and members of OneCULT.
The short video is worth a laugh for all of its blatant contradictions.
…That is if it doesn’t make you puke at its sheer audacity and the level of deception and corruption it attempts to mask before its victims eyes.
@Tim… how about 8 numbers after the period is what I see ??? go take a look in your one coin account….. thanks.
@OneCapita
Thanks for catching that. (Still a bit sleep deprived from last week!)
@Mike
Yeah, so how does government support for cryptocurrencies legitimize Ponzi fraud?
Despite efforts to hitch OneCoin to the legitimate cryptocurrency wagon, the differences are obvious. More smoke and mirrors…
Please sell or buy a fraction of a coin and then get back to this.
(I can report number of my children with as many zeroes after the period as you wish but they still won’t be divisible.)
* Central Back -> Central BaNk
* Hungry -> Hungary
Thanks. I do proof-read but sometimes the silly mistakes get through :).
This is a big lie I say …. Onecoin is not a pyramid scheme I have earned a lot from this nothing less that 195,000 euro per month ….
This onecoin will be in market 2018 and you all shall see that one coin is not a scam.
Whether you have successfully stolen money from people who joined after you or not is incidental to OneCoin being a scam.
500,000 merchants “already signed up” by April 2016 anyone?
@Oz – This new Ruja Ignatova interview video is the most fascinating one I’ve EVER seen!!
youtu.be/hbfQ68K8FGo
Lots of polished deception and a few outright lies, but otherwise really “convincing” if you don’t know the whole story and the truth.
She had a few funny …slip ups, alluding to (But still avoiding) disclosure, such as “BIG”coin – you’ll see what I’m talking about.
Also, plausible deniability of true market value, as well as addressing both the “we are not a ponzi” and “because the media hate us” stuff. Then there is one point at which, unless I misinterpreted it (I’ll have to good through that part again), she refers to OneCoin essentially as a “smaller company.” And also a point at which she renegs on the “million merchant” goal, stating that “if we have 100,000 merchants, I will be happy,” etc.
So, all in all some wonderful contradictions here, as well as several elephants in the room which remained unaddressed. Check it out! May be worth an analysis 🙂
Noticed the ponzi pimps are still selling this garbage in the US but no longer call it OneCoin on their FB pages. They’re selling “training.” Can’t understand why the SEC hasn’t done anything.
I wonder if Ruja is celebrating with her husband tonight?
So eager to know his role in this big scam.
ruja is divorced from her german husband and rumor has it that she had hooked up with sebastian greenwood, who in his role as the ‘global master distributor’ of onecoin, helped her set this scam up.
greenwood is not to be seen lately. he was not at ruja’s onecoin christmas party in bulgaria recently. he was supposed to be a speaker at the much advertised dec 19th onecoin manila event, but seems to missing from that event too.
the manila event was very poorly attended.
@Anjali – is Ruja “divorced” or separated from him.
If we’re speaking “rumor,” than it is also “rumored” that she and Lulian Cimbala (the brother of Igor Albert’s hot scammer wife, Diamond female Andrea Cimbala) also had a fling.
Another someone contacted me recently (over Telegram, going by the name Claus) stating that he’d met Ruja a few times, and showing unpublished photos from Ruja’s b-day party in May, mentioning a few possibly interesting UNCONFIRMED Lead informations, as well.
He stated that Ruja’s “right hand” (assistant) is one Denitza Godeva, “co-founder and managing partner @ Juice Infusion – Organic Juice Bar (“GroBraum, Los Angeles und Umgebund |. Lift- & Raumfahrt; Früher: Family Office, Emirates, VIVACOM ; Ausbildung: Universilet ‘Prof. Dr. Assen Zlatarov’ – Burgas ; Webseiten: Unternehmenswebseite ).
Her Profile:
Denitza Godeva
Head of Global Administration
Family Office
Januar 2016 – Juli 2016 (7 Monate) | London! GroBbritannien
-Worked in coordination with CEO in order to improve processes and policies and lead long term organizational planning.
-Line reports to company CEO
– Headed the administrative team in offices in Dubai, London, Hong Kong and Sofia
– Negotiated contracts, managed vendor, clients and contractor’s relationships
– Helped build the team from 2-5 members, taking 360* responsibility for recruiting/hiring/coaching
– Orchestrated travel coordination for employees and management
– Organized events in different locations around the Hlobe with World known singers and celebrities
– Managed confidential projects for the CEO
– Served as Personal Assistant to the CEO
– Managed the opening and designing of new offices
– Updated and implemented development strategy, overseeing individual solicitation leads and processes as agreed with the CEO
IN-flight Manager
Emirates
Juni 2006 – Januar 2016 (9 Jahre 8 Monate)
Chaired an international winning team of service professionals who helped Emirates become The World’s Best Airline
Other POSSIBLY interesting tid-bits:
“Going now as an intro into the baby thing (Ruja’s “newborn”)
(In 2013) We were kidding about kids. Bjorne wanted kids, but for her it was not okay AS she would then not be able to fly.”
“AS I saw her end oft (sic) May … Drinking Alkohol … She can’t be pregnant at all.”
“What she told 2013 was … It having a baby is an Option, then she’ll give it to a nanny.”
“Now … 2013 …
Her husband Bjorn strehl.
Steckbrief
Arbeitet bei Linklaters LLP
Hat als Landgericht Heilbronn bei Land Baden- Wurtemberg gearbeitet
Hat Master of Laws (LL.M.) hier studiert: Queen Mary, University of London
Hat Rechtwissenschaft hier studiert: Uni Konstanz
Ist Zurich Schule, Friedrich-Abel-Gymnasium gegangen
Wohnt in London
Verheiretet
Aus Vaihingen an der Enz
“Still married”
Xxxxxxx (redacted: too detailed time/ location) xxx
“She bought him Miss bulgaria for a ménage a trios … Years ago (on his bday)”
“So why should he care about her banging around?”
“Was cheap 😉 … less than 1000€ a night (emoticon: crying from laughter)”
(5 images from Ruja birthday party in May [unpublished])
“B day Party 😉 30.05.16”
“Victoria Albert Museum”
“Had to take a day off ;)”
“Sind (sic) days later there was this coin rush stuff event.”
TT (I ask): So, while I am excited admit (my sic) you contacting me, I’m curious why. Are you also a victim?
“No victim.”
“I am curious about all this unfair earned money.”
“It could be mine”
“I am a (redacted). Earning … for (redacted) business good money … But she?! Extraordinary.
“I was about to ask her, if she would recommend me OC … and to See what she thinks anount (sic) it.”
TT (I ask): (if he knew about Waltenhoffen Gusswerks/ IG Metals conviction in March)
“I read about the case. But. Her dad must have done worse … 1998/99”
(Redacted)… “She had to move to Viernheim after 96?97 … returned one year later. People ‘say’ he- her dad – had a case in Hessen.”
“She finished (high school) 99”
“Ab out Intelligence you may think what you want. But she was best in claas (sic).
(Image of bday invite)
“Yep. Got it only AS pdf”
“No Print (emoticon: crying from laughter)
“The stooge article (TT: by Ari Widell from The Capital) OS great. MS feeling is … Retirement.”
“(Auto correction is horrible)”
(Small talk ensues…)
“Ah. I thought with Fallout, that she took most oft The money from poor People in India, Pakistan, etc … And? What might people do when they lost everything?”
“Wars?!?”
“That will be the bad side…”
“The more you See, the more unhappy angry”
“Looking behindert the scenes is like Alice in Wonderland”
(More small talk, Claus had to go do other things, stating that he would follow up and try to get more concrete evidence of things)
TT NOTE: the information above comes from an otherwise unknown source. As such, we can only take it for what it is worth.
However, maybe some of the info about Plamen Ignatov’s alleged case in Hessen in 98/99 may turn up something? I dunno. Probably difficult to prove the whole 3-some thing unless the alleged Miss Bulgaria will talk(?).
Thought you all might find this at least interesting, nonetheless. However, like the recent info about Touhid Rahman alleged arrest a few weeks back, it will need to be substantiated further. Will keep you posted.
I noticed my name was mentioned in one of the comments above and the information posted is incorrect and I would like the comment to be removed from this article- user TimTayshun.
I have only worked for this company for 6 months and I have never been involved with the owner in the manner described above. Please remove the inaccurate information. Thank you.
Tim?
@Denitza.. Tim is referencing RUMORS.. There is no ficticious information written about you that has come from Tim or anyone else on this site..
Get a Life..