OneCoin acquires collapsed BNG International pyramid scheme
BNG International rose to prominence in early 2015, following the collapse of the Wish Club Ponzi scheme.
Modeled on the $1.8 billion dollar Ponzi scheme TelexFree, Wish Club itself was a reboot of the notorious Brazilian pyramid scheme, Blackdever.
By the time Brazilian authorities moved to shut Blackdever, only R$200,000 ($57,472) out of an estimated R$36.4 million ($10.4 million USD) pumped into the scheme was recovered.
Needless to say the overwhelming majority of Blackdever affiliates lost money in the scheme.
Rogério Alves, identified as one of the architects of Blackdever by Brazilian authorities, was a prominent figure in Wish Club.
Wish Club launched in late 2013 and by August 2014 had collapsed. As with Blackdever, the overwhelming majority of Wish Club investors lost money.
Out of the ashes of Wish Club’s collapse rose BNG International.
Under the guise of selling energy drinks, BNG International charged affiliates 299.95 to join. Commissions were paid on the recruitment of new affiliates, with residuals tied to recruited affiliate’s monthly autoship orders.
Alexa statistics for the BNG International website domain suggest the scheme began to collapse this time last year.
BNG International was operated out of Portugal by John Mercucci (sometimes spelt Marcucci), the former President of Blackdever.
OneCoin have yet to publicly announce their acquisition of BNG International, however Mercucci went public with the announcement on June 1st.
Mercucci was in attendance at OneCoin’s recent “CoinRush” event in London.
The acquisition of BNG International marks OneCoin’s third European scam purchase. How much OneCoin paid Mercucci for the BNG International affiliate email database is unclear.
At the time of publication the BNG International website was unresponsive. Google cache shows the site was still active as of June 8th.
What we do know is BNG International is the third-generation of one of the most publicized pyramid schemes in Brazil.
Reports from BNG International affiliates claim the company has not paid out any commissions for “over a year”.
BNG’s affiliate-base is probably desperate to recover funds some of them have lost thrice-over, which fits perfectly with OneCoin’s ever-present need of new investor funds.
Since June 1st, Mercucci has been actively promoting OneCoin to the BNG International affiliate-base.
Whether the acquisition of BNG International breaks OneCoin into the Brazilian market remains to be seen.
Bad news again….. Give me some good news instead.
We don’t invent the news, we just report it. OneCoin has acquired a third-generation pyramid scheme, there’s no way to sugar-coat it.
BusinessForHome have a fluff-piece on there being 5000 attendees at the CoinRush event if you’re so inclined. Cuz, y’know… copy and pasting spammy press-releases = news.
Bonus Tip: Fun drinking game; take a shot everytime you see a OneCoin referral link in the comments!
Garbage content = garbage comments.
@Edward
Good news: I thought it might rain today, but it was actually a nice sunny day.
that doesn’t help one coin with cash flow, those people want there cash back……
How do you think John Mercucci is selling OneCoin to his BNG email list?
Those who lost money and are gullible enough will be convinced they can make it back in OneCoin.
Mercucci’s probably worked out a sweet deal to profit handsomely from every one of his victims he gets to cough up more money.
@Sly
Who better to scam than gullible folk who are desperate to get their money back?
So when will one coin collapse ?
And because he was able to finalize this deal before Oct., affiliates who buy now will get double coins. There may even be a special intitial fast start ranking package available only to BNG suckers.
What a selfless guy looking out for his BNG affiliates allowing a merger into the largest and most successful NWM vision in the world. Coming soon…
When they run out of invested funds.
OneCoin themselves only claiming 4,000. Lol, what’s a thousand suckers between friends?
facebook.com/OneCoin1/
Now that the “BIG” London event has come and gone, it is fascinating to hear all the different spins on actually what took place.
Not all were “all that excited” about the event and are not happy campers. Of course we have the main promoters lying through their teeth at how wonderful, exciting and great the news was shared by Dr. Ruja.
Prior to the event, OC was bragging that there would be over 11,000 in attendance. The number attending was 1/3 of that. Not what I would call a great result.
To be honest I am surprised there that many who attended after all the negative press OC had been receiving prior to the “we can’t tell you where it really will be held until the last moment” event.
One has to wonder how many other failed Ponzi’s OC can buy so they can get their hands on the member database. These lists are important to them as normal recruiting has slowed down.
Who better to con into their Ponzi than those thinking this is the only way they have a prayer of getting their money back from their failed Ponzi. It seems to be the only way they are expanding their membership.
AT the rate this is slowing down, I would be surprised to see them make it to October when all the “good and exciting stuff” is supposed to happen.
If they can make it to October, remember when they shut down the website in October as announced, what better time to do a runner.
All the members know the website is down and would be waiting for it to come back, and then nothing. It may be Ruja’s end game plan. I’ve seen this happen before and would not be surprised to see her do it.
Hypothetical scenario… They were offered OneCoin Tokens at a DISCOUNT off the normal rate, due to a special deal their “Dear Leader” had negotiated with Rujamama.
(i.e. the same script Phil Ming Xu used in China: pay 1% “activation fee” and reactivate the old collapsed scheme’s ponzi points in the new company)
Does anyone else think the KYC requirement OneCoin is putting in place can be used as a golden parachute on their way out to create more funds by selling identities on the dark web?
Wow guys….take a look at Labines “success”…
I always find it quite amusing when these ponzi pimps show their back offices claiming they are making all of this money but NEVER EVER show that this money was and can be withdrawn!
Labine “claims” to be paying his bills with all his earnings…SHOW US!!! PUT YOUR MONEY WHERE YOUR MOUTH IS LABINE!…Show us where you have withdrawn all of this so called money you have earned!
@Frank
Of course they will, adding insult to injury
On Oct. 1st, Onecoin could easily turn over their useless blockchain and prove it exists. ***HINT: it doesn’t and never did.
There would be no reason whatesoever not to show it. It would contain a ledger entry for every transaction ever made made from the minting of genesis coins to the distribution of each and every OC into member back offices, since day one (as well as any “buys” or “sells.”
Of course, despite there being absolutely no reason not to, the ONLY reason not to is because it is impossible to “open” something that simply is not, nor was ever there.
_______________________________________________
What MY thoughts are is that since the 80% mined goal posts to transparency have been now pushed back a few years, and KNOWING this is how Ponzi’s operate, CAN A GOVT. AUTHORITY OR AGENCY SUBPOENA THIS FAKE BLOCKCHAIN, SINCE OC IS NOW CHANGING THE RULES?
@jodi
Labine’s OneCoin point balance is irrelevant, in that he can’t withdraw any of them the same as all the other investors.
If he is paying his bill with OneCoin money, it’s recruitment commissions (which is a pyramid component to the scheme in and of itself).
So basically Kenny Labine is paying his bills from a percentage of his friends & families money, while Fat Rujie Mamma takes most of it.
If he is too lazy to get a real job, he should just beg or ask them for the money and cut Ruja out of the picture. Hell, why doesn’t he just develope his own coin. Ken-coin?
in their onelife newsletter for affiliates, dated june 13, 2016, onecoin have announced their merger with BNG international.
this merger is to help onecoin gain a foothold in the south american ponzi/pyramid market:
onecoin has also officially announced its ‘hacking challenge’ in this newsletter.
but the catch is that this ‘challenge’ will not be worth anyone’s time, as rujamama may just pay you with onecoins! only onecoin affiliates have a silly obsession with ruja’s onecoin, and whyever will they hack the system that promises to give them their daily bread?
also, regarding the attendance of the london event, the newsletter says 4000 affiliates attended the event in one paragraph, and then in another paragraph says there were 3500 attendees.
ruja cant keep facts straight in one short newsletter, and she wants to run around announcing hacking challenges!
Onecoin’s fake exchange website, xcoinx, has not been reporting price updates on Cryptos. Not only have they failed to devalue the price of Onecoin from $7.05 to approximately $0.12 each, but bitcoin price is listed at $582 (it is presently at $723 at the time I wrote this) and they have Ethereum at $13.90~ (it is presently above $18.00).
Higher bitcoin and Ethereum price with bottom’d-out Onecoin pricing certainly doesn’t fit the “Bitcoin Killer” snake oil they’re selling. Lol
Funny. About 4 weeks ago Onecon released their false Press Release about accepting bitcoin due to “rapid decline” and price “plummeting.”
If instead of a Tycoon, someone had put that $5G in bitcoin it would have nearly doubled.
I’m not implications petiole to gamble in things they don’t understand, but the point is that Onecoiners who check xcoinx daily for Onecoin price have seen bitcoin and Ethereum “mooning” despite Ruja task talking. Lol. I love that.
Kari Wahlroos held OneCoin event on 18.6.2016 at Tampere University auditorium, Finland.
youtube.com/watch?v=1RSRF05BIgw
His presentation was that usual bullshit, stupid jokes and hype about constant growth. Every day 5000-10000 new members join OneCoin, and the daily turn over is 5-10 million euros. He bashed the current banking system and said that OneCoin will be the world’s biggest bank with easy and cheap transactions.
When it came to coins, he basically said that “don’t worry about anything, all those coins will be mined” and “don’t ask about the new blockchain since it will come anyway”. No mentions about real markets.
I am wondering if everybody knows one coin is a scam why arent they stopped by authorities? Why are they waiting for people pay that much money into it? Or is it intentionally?
Just for the lulz
from Yazir Mirza’s (UK diamond) FB page :
Err…
UN Members: 193
UN Observer States: 2
States With Partial Recognition: 6
Unrecognized de facto Sovereign States: 3 to 6
Total: 204 to 207 countries.
@Suesi
Bulgarian authorities don’t seem particularly interested, at least not publicly.
If they are investigating, these things take time unfortunately.
OC buy Bonofa member list. One more scam from Germany.
Thanks for the heads up Freesal, much appreciated!
It’s one thing to suspect something is a scam. It however, takes time to PROVE that scheme is a scam. Such investigation generally takes two years even in a system like the US. In Europe, it often takes longer.
Often, the investigating agency is a civilian agency and cannot indict, and will turn things over to the prosecutorial office which means even longer delay. Add various appeals, and it’d take even longer.
Furthermore, consider that Eastern European countries are relatively new to capitalism, and many of them simply do not have effective legislations to shut down ponzi schemes.
It took Russians a decade to shut down Mavrodi, and he’s STILL at it! Many of the perps are ingrained into the top levels of society that not even a scandal of this magnitude may upset them for long.
Finally, keep in mind that investigations of such are often done in secret. Agents will infiltrate meetings and gather evidence, but they need to gather enough evidence to convince a judge to issue a restraining order, and it was not given lightly.
What each country can do is give guidance / warning, and many have already done so. But it’s hard to do something about a scheme, when it’s not even officially IN your country.
It’s strange ruja talked about not being able to produce onecoin fast enough with this blockchain so she will retire it and start a new faster blockchain in October.
At the same time she will double the onecoins, wait I thought the blockchain produced the one coins. How is she gonna produce 760 million coins on October 1st?
Just for the lulz, from Yazir Mirza’s (UK diamond) FB page :
Err…
UN Members: 193
UN Observer States: 2
States With Partial Recognition: 6
Unrecognized de facto Sovereign States: 3 to 6
Total: 204 to 207 countries.
And the biggest country USA is not on the list. They will get shut down in a heartbeat here if they do what they are doing elsewhere in the US!
Labine posted this “Team Leader” call, but I think it was a “private” video or something (~80 views).
youtu.be/M9gCR-7GajI
Nevertheless, if anyone not familiar with how Kool-Aid is served is interested to see, just listen to the first ten minutes and you will see how the masses fall for such traps. It sounds like Kevin Thompson is now active again and is a full believer.
Onecon has seen their Alexa Rankings flat-line since their April split. Alexa Ratings is something we know that Kan Le’Beans formerly based EVERYTHING on (even the Duetche Bank – or “Douche” as Ken likes to say).
I believe this is the PRIMARY CAUSE for all of the hyperinflation and new Blockchain ridiculousness. It must be desperation coming right out of another high split barometer, their hugest event of the year, CoinMush, and thatDr. scRewed’ya thinks she’s Oprah Winfrey and just doubled everyone’s coins (while playing Dr. Evil and deflating their worth by approximately 92-96.5%.
About 7-10 minutes into the video some pimp named Bob, (who is still in EU after the June 11 event, and prostituting around Scotland, while his fellow pimps and conquistadors take Italy and other areas), states that THERE IS A BIG ONECOIN MEETING HAPPENING IN CHICAGO VERY SOON, “WITH THE TOP LEADERS (he really emphasizes “Top Leaders,” BTW).
He goes on to give specific location, date and time (sorry, I was occupied but listening at the time). Would be great to have some Authorities there taking notes! Anyone?
@Tim
Thanks for the audio.
The “Kevin” on the recording is not Kevin Thompson, I can say that with certainty (know the guy’s voice).