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 together lost “well beyond 400 million euro” ($424 million USD).
Those numbers are expected to climb, as many victims have yet to go public with their losses “out of shame”.
That’s not the half of it though, with BaFin’s investigation revealing startling information about the company.
Rumors of OneCoin’s ties to organized crime have persisted for months. Personally I haven’t seen anything concrete, other than Bulgarian authorities’ suspicious inaction.
Following a “confidential conversation” with one or more BaFin investigators, Germany’s Gerlach Report has learned the regulator considers OneCoin a “collaboration between the Bulgarian and Russian mafia”.
Purportedly mafias in Europe have found success in MLM underbelly scams over the past few years. With little to no opposition from authorities (typically until it’s far too late), organized crime rackets behind the schemes have gotten bolder.
Their greed and “Masslosigkeit” (???) over the past (few) years continues uninterrupted.
The Gerlach Report attempted to reach out to Kevin Schütz, one of Germany’s top OneCoin investors.
After initially denying he was involved in OneCoin, The Gerlach Report confronted Schütz with evidence to the contrary.
Schütz (right) responded by emailing The Gerlach’s chief editor with threats against the family of the publication’s staff and family.
Well, you little son of a bitch. I have your address and also the addresses of all the other editors.
If I see an article, I will not visit them but their parents.
By the way, your wife and mother will be taken care of before your eyes. I know everything about you.
You can continue to spend good time with your family, as long as it is still unreported.
BaFin and the Gerlach Report have also investigated Ruja Ignatova, publicly credited as OneCoin’s Founder.
Other than a woman bearing the physical likeness of Ignatova, neither were able to confirm any of the claims made about her.
When contacted, Interpol stated they’d
seen the woman before (but) we can not confirm her actual identity.
She is probably an art figure, an invention.
In light of the massive losses uncovered by BaFin’s investigation, the regulator is now pushing for the apprehension of those behind OneCoin. Be it Ruja Ignatova or the Bulgarian and Russian mafia members she’s allegedly working with.
At this time where OneCoin laundered the $421 million stolen from German investors is unclear. BaFin are quick to point out though that investigations into OneCoin’s inner workings are in the preliminary stage.
Update 28th April 2017 – On April 27th, BaFin issued a cease and desist banning OneCoin from operating or being promoted in Germany.
Maybe Angelina Lazar wasn’t crazy after all…
Lazar is crazy with her religious lets make no mistake about that.
But Mafia connections of OneCoin however always was a fact. The Capital magazine’s investigation showing shell company connections with one Mafia boss. But it’s most likely much deeper than that.
Norwegian blockchain specialist Bjorn Bjercke who has been working with police talked about that in a recent video.
London police believes OneCoin is a scam. International investigation in progress.
it has often been suspected that ruja ignatova was a front put up by bulgarian mafia who were the actual puppeteers behind the onecoin scam.
just before starting onecoin, ignatova was a ‘director’ of CSIF, an investment fund run by the allegedly richest woman in bulgaria called Tsvetelina Borislavova.
Tsvetelina Borislavova was the common law wife of the bulgarian prime minister Boyko Borisov [though separated they continue to be close], who allegedly has mafia contacts.
bulgaria is a corrupt country and it is not unusual for politics and the mafia to be in bed with each other.
if onecoin is backed by political and mafia power in bulgaria, it will be no surprise at all.
@Anjali- so glad to hear those names again because I believe Tsvetelina is a key to breaking open this case.
I believe she and Ruja (whomever that is) are childhood friends. I believe they have holdings in a ski resort together. I believe that there is a CIA Report (yes, that CIA) revealing massive money laundering suspicions and evidence, as well as bank coersion, crime family ties, and (according to reports from several years back, gathered while then Secretary of State, John Kerry, was paying the two-time Prime Minister a visit during his first term) suspicious links to at least 30 unsolved murders in the eastern Bulgaria, Black Sea region!
Both Borisov and his former wife, a very powerful woman in the banking world there (Chairman of their biggest bank? Some interesting titles I can’t recall off the top of my head) were never conclusively tied, but circumstantial implicated together and respectively in some of these ventures.
The most difficult investigative challenge for me has been documenting the placement of Tsvetelina and Ruja together at the same time or place. No solid luck so far, other than hearsay.
Another angle would be to check out the circle of Ruja’s alleged estranged husband, an attorney. And finally, in addition to the Waltenhoffen Gusswerks debacle which saw Ruja and her father pleading guilty and convicted on 24 counts of fraud (and Ruja, last year, telling the city’s that she lives o.k. a “fixed income” of 3500€ in Dubai); Plamen Ignatov may also hold a key.
I spoke to a former classmate of Ruja who claimed there was an incident in Germany involving her father, Plamen, which involved a significant controversy or crime. This would have been around the time Ruja was maybe 16y/o.
Unfortunately, German law has some weird quirks which apparently does not permit media to attack the names of the convicted to their crimes. As such, this ALLEGED history of Plamen had remained elusive to me.
DISCLAIMER: None of the info above seems to have absolutely concrete foot-holds, but it seems to all be something many of us doing or own dogging and investigations have often come back to.
This seems to be where the really really dangerous and disturbing background will likely eventually be uncovered and revealed. And in my opinion, even those like myself following this case closely (several of us for over 2years now) will be left with jaws agape once the whole story is one day revealed!
Very interesting content. Is seems that they are starting to take serious action in Germany against OneLife and its promoters. We can only hope that they find a good way to actually bring some of these criminals to justice so that other countries can take notice and follow suit.
Anyway it is very encouraging to read that an organisation like Interpol is involved. This increases the odds that many more authorities have OneLife on their radar.
Checked a couple online dictionary. “Masslosigkeit” seems to translate into “recklessness”,”excessiveness”, or “extremeness”.
Given that Germany is the *real* engine behind the EuroZone economy, there will be some behind-the-scenes arms twisting to ensure cooperation in all Eurozone countries, as this just triggers so many money laundering red flags.
lazar’s FB page ‘team charisma – exposing onecoin’ has disappeared. wonder what happened there!
Well, so do I.The OneCoin Petition is gone as well at change.org/search
Suppose we can expect everything from now on.
Ummmmm…. youtu.be/rQD7q1F8EfA presented by Angelina Lazar, Senior Ambassador for The Middle East of The Circle of Beautiful People and Praetorian Elite.
Possibly correct about OC and crazy aren’t necessarily mutually exclusive 😉
Anyway… glad to see some things seem to be really ramping up on the OneCoin front.
Maßlosigkeit= not knowing your limits (food, greed, applies to almost everything).
While her journalistic presentation was obviously whack and completely un-sourced, A FEW of her bombastic claims seem to be panning out. I repeat, a few.
More interestingly …or possibly eerily, a friend of hers randomly contacted me last month saying that she hasn’t been seen or heard from since mid February and was worried about her safety. I thought that was weird.
I haven’t spoken with her since last summer, at least, since she seemed to go off in a strange …direction. Her friend said she made some claims… which were even wilder than anything myself or anyone here has ever heard.
I won’t be repeating those things lest I sound like a member of Heavens Gate cult.
I’ve put out some feelers, so hopefully someone, somewhere can at least confirm her recent existence. I’ll report back if anything comes up.
Please post of you notice any activity from her across the ether.
The video is from 2016. Here a link from Jan 2017. lol:
Always something new.
She is from Serbia? What the hell?? I had no idea…. As we don’t already have enough crazy people….
A former priestess that has turned into a ponzi pimp. Just watching her latest video with that praetorian whatever it is makes me wanna puke…
As expected OneLife/OneCoin deny any responsibility for the activities of their shell company IMS/International Marketing Services. Message in the onelife.eu backoffice:
Meh….my mind carried the 7 from the posting date over to the year.
Looks like she got involved with Wor(l)d Global Network last year as well as Nexxus.
As Tim mentioned, nothing found from her since February that I can find.
Not exactly a fan of hers, but certainly not wanting to see anything bad happen if any of this mafia crap is true.
Time will tell.
Gee…. didn’t see that coming. 😉
No matter how much our favorite OC reps will try to spin it touting the company line, this will definitely do additional damage to whatever plummeting credibility/appearance of legitimacy OC thought it had.
RE: Angelina Lazaar
I’ve just received confirmation that she’s out of harm’s way and active doing “her thing.”
Anyway, back to our regularly scheduled program.
I found this post related to the Nexxus Scam in late December announcing her schedule. She was looking to visit Nigeria. Other than that????????
OneCoin acquired IMS through Frank Rickets when they bought his OPN pyramid scheme. Ruja and the gang very quickly began using the company to launder OneCoin investor funds through.
IMS == OneCoin.
Interestingly the pathological liars from OneLi(f)e fail to mention the part about the roughly €30 million that is currently frozen in IMS bank accounts. For OC reps it would have to become increasingly difficult to not lose faith in the company and its socalled financial revolution.
It is quite astonishing to see to what extent people are able to shut down their ability for critical thinking once they have decided to believe in something.
Blind faith in anything is usually dangerous, but in a situation where there are so many facts pointing out that this can not be anything but a blatant fraud, this type of blind faith starts to border on insanity.
In the mean time meetings in various countries seem to continue without much hesitation. Where bad habits die hard, these scammers appear to die even harder. And apparently people are still falling for their bullshit and sending money to OneLife.
While obtaining information about OneLife’s secret bankaccounts, which are still being used, is difficult due to the use of OC ‘agents’.
Perhaps we can all encourage victims who have sent money to report the people they have made payments to with their respective banks. I can imagine that if you wire €10.000 to an OC rep, the bank might be interested to know that the payment was related to OneLife/OneCoin.
Any bank that is serious about combatting money laundering would have to report this to a financial authority at some point. And the more of these reports come in, the sooner authorities in various countries are be prompted to take action.
Also it would give the authorities a clearer picture of the network of individuals in each country who are willingly and knowingly continuing to rob people from their hard earned money through this despicable scam.
Another benefit might be that certain banks can close individual accounts of OC reps, making it considerably harder for them to continue their activities. Continuing to run the scam becomes a lot more difficult if the bank has stepped in and frozen their bankaccounts.
So instead of just trying to play catchup with OneLife as a company, which is apparently fairly difficult due to the lack of international jurisdiction, authorities can target individual OC reps.
As an added bonus, the trail left by their bank transactions will also quickly identify the remaining secret bank accounts used by OneLife itself.
Did you have some papers showing the ownership of various OneCoin shell companies in one of your posts? Was IMS included?
I have a deluded father and I keep sending him the latest news. He still thinks it will blow over. The worst thing, i don’t know how much he has ‘invested’!
I really hope the scam is finished now! Thanks bmlm for getting the truth out there!
As it is said in German “Jeden Morgen steht ein Doofer auf”. That translates to “every morning, some stupid person gets up.”
Sorry, but it’s greed combined with blind trust and it will never stop, only the look will change.
Asphyx, My father is a highly intelligent person, that is why I don’t understand his delusion. Possibly he might be senile, but stupid not.
I dont think it is helpful to label victims thusly. Also it is a belief that paper money will come to an end soon, so not so much greed either, or maybe not entirely anyway.
It is at any rate a big worry. Or ‘eine grosse Sorge’ in German.
While I agree with Asphyx for the most part, we also should not underestimate the brainwashing techniques these network marketers/mlmers have perfected over the years.
Some good, intelligent people have fallen for it. It’s the repeat offenders and successful recruiters who deserve the harshest judgment.
I would think the question is, has he stopped putting any more in. Even reasonable, intelligent people get sucked in, and once they realise that often there is nothing for them to do but hope for an upside eventually.
Declaring all as lost now doesn’t help any. Stopping throwing good money after bad is much more significant.
MORE SHOCKING DETAILS ON ONECOIN SCANDAL AND RUJA’S HISTORY IN THE GERLACH REPORT TODAY (including how victims can fight back!)
As far as the effectiveness of their brainwashing techniques I have to agree with Char that some recruiters have indeed become very skilled at spinning any story. Especially when feeding fears about a collapse of our current monetary system it is very easy to make cryptocurrency seem as the logical next step.
In many ways it certainly might be just that. At the same time using the analogy of the success of bitcoin and the high level of resistance it encountered in its early days, it can even explain a lot of the negativity surrounding OneCoin as resistance to change and ignorance about the future of money.
Most people, including the self proclaimed financial experts in OneCoin, don’t have a full understanding of either our monetary system or cryptocurrency. Therefor any plausible explanation that appears to be supported by a few loosely connected facts can be mistaken for a point in favor of a centralized cryptocurrency called OneCoin…
That is of course until one takes notice of all the inconsistencies, exaggerations, highly unrealistic projections, distortions of the truth and blatant lies put forth by both the company and its reps.
Amongst these reps are most certainly a large group of naive believers who are more guilty of being plain stupid than criminal.
Professional networkers teach their downlines to ignore negative press for risk of infecting their mindset. For anyone representing a reputable MLM company this can indeed be good advice. Every legitimate MLM company has had its fair share of negativity and bad press. Ignoring it will help you stay focused.
However in the case of a downright scam, which OneCoin clearly is, this type of deaf, dumb and blindness by choice isn’t exactly a virtue. It creates a dangerous blind spot and leaves people susceptible to pretty much whatever lies the company or upline can make up. Which in case of OneLife and its reps, is quite a lot.
@NoSellOut – beautifully articulated!
I get the impression there is a lot of self congratulation going on but what do we want to achieve in 1 months time. ACTION and ARTICULATION sound similar but the culture between the two is not moving this forward. Webinars are instructional but so what ??
I ACTUALLY THINK WE ARE STUCK.
WHAT IS YOUR VIEW -i REALLY THINK THIS HAS BECOME OBSERVATIONAL.
I’m only four or five minutes in but… bloody hell. Protip: Don’t have George Michael blaring when someone is speaking!
Edit: Music cuts out at [5:30] or so incase anyone else was getting a headache.
For my part BehindMLM is always observational. I draw a fine line between activism and reviewing and reporting.
In reality, you have little to no control over what you want to achieve in the next month, unless you work for some law enforcement or regulatory agency.
BMLM isn’t an activist site fighting against scams. He just points the info out there.
Those of you aggressively pursuing OC seem to be doing a fine job. All you can really do is spread the word, get people to report, etc.
After that, it’s up to the authorities to move in their slow footed fashion, doing their best to dot their i’s and cross their t’s in making their cases.
Just curious, is OneCoin the first Ponzi pyramid to have such a major connection to mafia? I realize there’s no proof yet, but it sure seems possible that it’s hand in hand with mafia money laundering, etc.
DFRF’s Daniel Filho purportedly had ties to the Sinaloa Cartel. Now that he’s gone whacky though a lot of the documents filed in the criminal case are under seal.
top german onecoin leaders are unsurprisingly asking their people to only pay attention to onecoins press release which says that IMS has been banned, and not onecoin/onelife.
there are several comments calling the gerlach report a ‘rag’ and a ‘blackmailer’.
kevin schutz who abused the gerlach report and called them ‘little son of a bitch’ and threatened their families, is enjoying the press coverage and claims his lawyers are on it:
it’s nice that kevin schutz is enjoying the attention with his scammer pals saying ‘I’m so proud of you my boy ‘ etc etc , but the main question is – when is kevin schutz going to hold the next onecoin recruitment meet in germany?
I’d be pretty confident The Gerlach report have reported Schutz’s threats to the police already.
“I was hacked” excuse in 3…2…1…
is it just me, or has the onecoin village idiot ken labine cooled off a bit? his FB posts are getting fewer and less regular…
his pal joby boughey has teamed up with convicted felon tom mcmurrain to hold FB live recruitment drives, and lee oshea also seems to be partnering with them.
poor lil’ ken labine got left out in the cold of canada! recruitment must be slow, going by his waning enthusiasm.
Labine’s been relegated to posting Facebook memes since his upline told him to STFU a few months back.
“If we let you speak on stage will you please stop making us look like a circus act?!”
I want Labine to come clean. Admit he’s just a pawn and a tool for a criminal operation and that he was too dumb to realize. Anyone think there’s a chance of that?
Similarly I would like Peter Shaw -one of the so called European Ambassadors- who seems to be the man behind setting up in the UK
Teams and John Barrett who was the Pioneer (along with Frankie Lawlwer)setting up in Ireland in January 2015.
Another person who appears to have gone very quiet is Pehr Karlsson in Sweden . Perhaps because the police are still investigating there. He was/is alleged to be one of the shareholders (whatever that means)and a business partner to Juha .
By the way I read the German report about non existent Ruja and the OneCoiners seem to have bought into a fictitious personality cult . Do we have any confirmation that she worked for McKinsey?
THANKS Chris (post 34) for your views re Observation and action.
Two MLMs before OneCoin. An IT background. Ruby leader in OneCoin.
I knows she’s mad but is she sorry too? Has she returned the commission she made off her downline? Did she disclose the warnings about OC before signing anyone up? There were plenty.
(These are the consequences of MLM. You personally scam your downline.)
Those questions may be answered in the video, but I only catch very fifth word she says. That’s not an insult. I just don’t speak Scottish.
Her crimes can be explained perhaps even overlooked, people make mistakes, especially given her new efforts to do the right thing helping to expose OneCoin. So I have one last burning question:
Is she moving to another MLM?
@Char – one of the most interesting things about Jen is that although she achieved “double ruby,” and through her downline has pulled in over 250.000€ she claims to have only brought in personal profit of around 5.000€ and I believe her as she explained this to us (several times).
I’ll try to explain better after church or later. Jen definitely blames herself for not having done her due diligence and to listening to her upline about ignoring negativity because it will make you lose focus, etc.
She has written personal apology letters and sent flowers to MANY in her downline. She put inn 10.000€ which her father left her when he passed away.
She’s super sincere. Not what I thought when I first interacted with her back in November.
She revealed to me that she recorded several confederations we had in which we were so angry at each other! Lol. I told her to release them. We’ll see.
She’s 100% victim and 110% doing everything she can now to right the wrong.
I noticed it too. Less frequent and less noisy.
Even Ken Labine with his limited intellectual capabilities will reach a point where he realizes the deep sh*t he is in after luring hundreds of people in a ponzi and pyramid system with a FAKE blockchain simulator.
Selling “educational packages” with “free promotional tokens”, but at the same time promoting the OneCoin ponzicoins as a world reserve reserve cryptocurrency, i.e. the promotional tokens must be regarded as a financial product.
The final countdown has started and KL will realize this for sure.
ODTGOPRO Leader Zain Khan tells about the “OneCoin blockchain technology – a SQL server with a database.” Only problem is, you can’t run a blockchain with SQL server…
Zain Khan – Onecoin blockchain technology on a SQL server
“Blockchain technology on a SQL database…”
Thanks for the Monday morning laugh Zain.
It sounds impressive to the noobs.
She was listed as a “Consultant” for the company while she claimed she was a “Junior Associate” of the law firm. This was verified on the McKinsey Law Firm’s website.
Good news on the legal action front:
It appears that the Economic Investigation Service of Astana SDD in Kazakhstan has started prosecution of various OneCoin members for their role in this large scale investment fraud.
Let’s hope other countries start taking similar steps.
Onecoin leaders and affiliates are not suppose to promise profits and wealth..
However the truth out there is something completely different. Top leader serial scammer Tom McMurrain promises that the Power Pack will generate “somewhere in the neighborhood of 10-20 MILLION dollars”.
Tom McMurrain promises MILLIONS of dollars from OneCoin Power Pack
Sites we have no trust in.None what so ever.
E24.NO have just published internet articles about Norwegian Gaming Board starting to get tough with the questions for OneCoin.
I like the part that translates to: “Norwegian authorities sharpening their claws”.
Sure. Just stop being GREEDY… and STUPID.
Which one can you control?
Hopefully the Swedes, Fins, and the Brits will conclude their investigations soon, and file charges against OneCoin.
I think it is possible that one or more could finalize their investigations before May. If they do, Ruja and the big guns in OneCoin run with the money and the website goes bye-bye.
It most likely have to be international operation which will have devastetaing effect on the company. Remember, Italy’s antirust said Onecoin is an illegal pyramic scheme, and put fines up to 5 million euro if you promote OneCoin. So OneLife page took down the possibility to Sign Up from Italy. It still wasn’t yet enough to collapse the scam.
The company just explained to its members that it was couple of leaders marketing in Italy against the company guide lines, which is totally BS, as Italy’s antitrust said OneCoin is a pyramid scheme.
one coin is working out well for some people. i dont see it coming down anytime soon.
but to say it will launch as cyrpto is silly.
Bafin extends its order of last week now directly to Onecoin!
Kinda kills the whole counter argument from OneCoin (the one that said BaFin had not made any statement about OneCoin), doesn’t it? 😀
BaFin again shows that they recognize the bullshit of the sale of “educational packages”:
Really great news. Germany is Europe’s economic powerhouse, it sets the standards (although Italy gets the credits for being the first with the most explicit prohibition).
So OneCoin must stop doing whatever they were doing to initiate illegal money remittance business through IMS. Quite pointless – since IMS bank accounts have already been frozen, I don’t presume OneCoin is still making anyone send their money to IMS.
Besides, they should’ve addressed the order to OneLife, because it was the OneLife organisation making people pay through IMS, not OneCoin Ltd.
I think it means a little more:
For me it sounds like a warning for Onecoin ltd. to do not try the same thing with another company. Otherwise this second order would not make sense, if IMF isn’t more allowed to “work” for Onecoin anymay, would it?
Peter Shaw was in London in early April promoting One Coin with a number of other Intl Leaders.
Did anyone take a video or audio of what he covered? If so can you get it posted /linked to this site.
Who else was there -particularly John BARRETT.
the german publication ‘gerlach’ is reporting that onecoin has ties to the drug mafia head Hristoforos Amanatidis [called TAKI] and has the protection of the bulgarian president Ruben Radew:
google translate is confusing, if someone knows german could they explain the part about taki and radew, and what documents gerlach has to make these claims?
[@oz, i cant see the preview of my post and don’t have access to the quote button]
Just wanted to say all isn’t well with Lazar. She was arrested in February on an outstanding warrant in connection with a Ponzi scheme she ran from 2005 to 2007.
Lazar was indicted on four counts of wire fraud in 2009 and is currently being held in jail.
that Lazar had an “utter lack of credibility.
Lol, RUJA is even worse imo.Hope she will the next in line for prison.
I must have missed this JapanEvent…
One Life Newsletter
@Oz – if I could go back in time I may have never followed this stupid scam and had my eyes open to how slimy the bottom dwellers of this industry can apparently be. What a disgusting shit-show all of this seems to be at its core.
Onecoin is my first and last attempt to expose cockroaches that feed on the blood of a victim community who will most likely grow, and mostly never be saved from their naive “faith not fear.”
How in the hell do you persevere against the essence of evil for so long when facts are twisted by the opposition into fiction, and fiction is promoted as “truth” by these often career con-artists and their deplorable minions???
Oh I remember Lazar. She’s the former OC affiliate who became so outspoken against the OneCoin scam, and then became chummy with Bob Wood who promoted GCR MLM. Wonder how that’s doing and if people have lost money with that?
So it looks like she was essentially “on the run” for the last 8 years or so.
Downloaded some docs here if anyone decides to see what’s going on: drive.google.com/drive/folders/0B9q_gf4b1_SdOHk1eHU3dWdQX2c?usp=sharing
@Oz – feel free to delete my last “awaiting moderation” rant. Thx
I don’t know about evil, but when covering the MLM underbelly you have to think long-term. These scams play out for years and so all you can do is be diligent.
That and don’t get personally involved. One of the reasons I don’t cross over into advocacy or let BehindMLM be used for such.
@Chris Baily, thank you for making those documents available. They are appreciated.
This is sort of off topic and down a rabbit hole but in the era of taking any news with a large grain of salt I give you:
This doesn’t seen to fit right. That is “our” Angelina in the photo in that article but Ms. Lazar was arrested on February 8th while entering the US from Canada on a warrant issued in 2009(?). I don’t see the Secret Service letting foreign national with an outstanding warrant being a “VIP Guest” at a presidential inauguration.
Angelina was a nun?
I’m investing in grains of salt futures.
Lazar entered a guilty plea agreement today (May 22nd). Three of the four indictment charges were dismissed as part of the agreement.
Time served (no further jail time), three years supervised release and $20,000 restitution. Also getting booted out of the US.
Lazar’s Ponzi victim losses were $15,000 to $40,000 so she never hit the big time.
Oh and sidenote, as of April, 2017 the SEC confirm in an objection filing that Bob Wood (GCR, Nexxus University) is still under investigation.
What happened to Bob Wood?