35 Chinese OneCoin affiliates arrested, jailed & fined
Early last year Chinese authorities in Guandong arrested three top Chinese OneCoin affiliates.
The arrests eventually lead to the recovery of $45.7 million dollars in stolen funds.
In what appears to be a related investigation north of Guandong in Hunan province, thirty-five OneCoin affiliates were recently arrested.
The arrested affiliates were accused of soliciting investment into OneCoin, recognized as an illegal Ponzi scheme the world over.
Following the arrests Chinese authorities filed criminal charges, with the case coming up for trial in the Zhuzhou City People’s Court on September 8th.
The court acknowledged that OneCoin was operated out of Bulgaria and, based on its business model, concluded it was a pyramid scheme.
OneCoin’s business is, in essence, an investment in a virtual currency.
Participants are asked to pay a fee to join and through direct and indirect activitied receive a return.
The return is made in installments, with high returns used as bait to lure new participants into the fraudulent business.
The court did not recognize OneCoin a currency, crypto or otherwise, with a decision against the accused finding OneCoin
is not issued by Chinese monetary authorities, has no legal status in China and can and should not be used as a currency within China.
Authorities allege the thirty-five arrested OneCoin affiliates stole between 10,000 to 20 million yuan each from victims ($1546 to $3 million USD).
13.6 million yuan ($2.1 million USD) of the millions stolen was seized and recovered.
At trial the Zhuzhou City People’s Court found all thirty-five OneCoin affiliate defendants guilty.
Sentences ranged from probation to “several years imprisonment”, on top of fines ranging from 10,000 to 5 million yuan ($1546 to $773,455 USD).
On Monday Chinese authorities banned ICOs and ordered companies soliciting ICO investment from Chinese citizens to provide refunds.
OneCoin has solicited investment in China since late 2014, solely on the ongoing promise of OneCoin eventually going public.
To date OneCoin has not clarified whether it intends to refund Chinese affiliates as now required by law.
Really good news. Thanks!
onecoin -one month to go?
So where is the ICO going to be managed -not out of Asia me thinks. Belize is out of the window as they have been thrown out of there.
Look as if somewhere in South America which appears to be relatively virgin territory with OneCoin and particularly since the Steinkeller Bros have bailed out.
Of course Portugal is well linked to Brazil and I wonder whether this is why this year’s Gala Dinner and Conference is scheduled there (for the moment) on 6-8th October
Why on earth should the withdrawal from the IPO be announced by some lowlife like Zahar and not saved until October .. MAYBE THEY DON’T HAVE A MONTH LEFT?
In case you want some preliminary information regarding ICos versus IPos have a look belowWhat is the difference between an IPO and an ICO?
3 Answers
I suggest all you worried OneCoiners ask your uplines for the answers and if you are not satisfied ask for your money back, make a formal statement to the authorities, get your uplines address and issue summons for civil loss and embezzlement.
Please can someone give me the address of John Barrett who fled Ireland and is now recruiting out of Portugal.
Of course there will be some explanation beyond ICOs are more popular than iPO’s (Thanks Zahar for that gem).
with this ^^ the zafars, wahlroos’ or labines of the world cant run around saying that some chinese affiliates mis-sold onecoin and got into trouble with chinese regulators.
onecoin is illegal in china.
get?
Onecoin Is Illegal In China!
all chinese affiliates who have bought or sold onecoins are a part of an illegal criminal enterprise.
chinese affiliates who continue to sell onecoin after this court verdict are very very stupidly brave.
in fact, chinese affiliates should demand a public statement from onecoin corporate about its status in china, and refuse to sell onecoin unless ruja personally visits china and waves the green flag.
And what about all the stuff Chinese people can buy on dealshaker?
If Onecoin is not only forbidden as an investment, but too as a payment method or “currency” all payments on dealshaker should be forbidden too! What a pity for Chinese investors and further more for Ruja and co!
I think we are coming to the end boys!!
First I’d like to see arrests in Europe on a similar scale. Hopefully not long now. I heard nothing from the UK lately and in Germany things seem to be taking their time. No probs if arrests are made in the end!
Chinese justice system seems much more efficient than the US.
But also prone to corruption when it comes to small fries.
You’ve read many stories about violation of human rights, kidnappings of critics of regime, censorship, and small town corruption that see properties co-opted through use of gangs, and there is no justice for them. But I’m getting WAY off topic. You win some, you lose some.
cryptokill, the ICO is not scheduled to happen until October 2018, not next month as I interpreted you to be saying in your post above.
However, I do concur that OC will be lucky to make it past October of this year, especially if the Chinese investors start demanding their money back.
Ruja doesn’t have it to pay them. We are talking hundreds of millions of dollars OC would owe them.
I don’t see Ruja getting enough money out of Latin America to cover the Chinese refunds OC will be required to refund. Then Ruja will probably just ignore the request like she has ignored all the sanctions against OC in Germany, Italy, India, Belize, Malta, and the list goes on and on. Darn those rogue IMA’s causing all these problems.
Not showing up for the scheduled meeting was very interesting. I guess she was in India taking care of the chargesheet against her since she and OC always work with the authorities, cough, cough.
Short video from inside Onecoin Sofia Office with Pierre Ahrens: youtu.be/6wwro28iJgc
Pretty sure Pierre (who speaks towards the end) knows that trouble is brewing, based on his demeanor an message he actually States that him being there was a coincidence, cause he didn’t know this crew was coming (or something to this effect, if I heard correctly).
Can anyone identify the woman at 2:16? When the camera pans towards her she QUICKLY hides behind the pillar, so as not to be caught on video with rapscallions, and so late in the game, presumably.
…and if this isn’t the most pathetic display of fake emotion and hype I’ve ever seen, than I really don’t know what is!
youtu.be/7T4tLr0Ozmw
Anyone care to take a shot at a parallel reconstruction of the conversation/ events leading up to the moment of this jack-assery when Zafar hit “record?” Lol.
strange!
did zafar and gang spring a surprise visit to the onecoin office as they were not getting answers?
its implausible that the CEO didn’t know these people were arriving for a meeting.
[oz, yayy comment preview is back on!]
ya well, investors are waiting right from 2015 to get rich.
if you want them to wait one whole year more you’d better drum up some great excitement and pretend like you’re giving them a ‘gift’ or something.
yayy! wait one whole year more you lucky lucky suckers!!
I think DDOS protection is causing issues with the preview plugin.
When I go to test it it sometimes works, sometimes doesn’t. I also get a lot of 0 byte size http requests on the backend when it’s enabled.
so, when :
– the owner of onecoin ruja, hides and refuses to meet you
– you have to barge into the head office to catch the CEO arens unawares
– your IPO get cancelled
– your getting rich gets postponed to the end of 2018
– 35 affiliates of your biggest market china get thrown in jail
what do you do???
THIS:
facebook.com/DrZafarOfficial/videos/pcb.1625357834205522/1625331994208106/?type=3&theater
crazy frigging jokers.
muhammad zafar and his flunkies have published a video in urdu to cover their latest visit to sophia, bulgaria.
two statements of interest are:
– zafar says onecoin will be public on oct 8, 2018, whether its xcoinx or a public exchange.
^^this means that even with the IPO being cancelled, there’s no hope of xcoinx getting started so that investors can sell coins and make back some money.
– zafar’s flunkey says that china has changed ICO rules and ordered 60 crypto companies to refund money to investors. he says onecoin does not have to make any refunds as they were never offering an ICO in china [ uh, because they sell ‘education’ y’know]
so i guess with no xcoinx, only recruiters can make any money in onecoin and chinese investors have been burned and tossed in the dustbin.
yet, the dancing girls of rujas little harem dance! [refer comment#15]
OneCoin has been promoted with the “going public” marketing pitch since 2014. It was the same pitch Ignatova pushed in BigCoin.
“Going public” = ICO.
As per OneCoin’s own press-release, by law they have to refund their Chinese investors.
chinese investors have to do the ice bucket challenge, Wake Up and make en masse complaints to the police, so that the law can be enforced against onecoin.
cryptokill: here, the info for Birmingham. KW fb
I don’t know if OC has any following in South Korea, but their government has decided for a crackdown on MLM cryptoscammers too: businesskorea.co.kr/english/news/industry/19240-protecting-consumers-korean-gov%E2%80%99t-crack-down-multilevel-marketing-digital
basically, zafar is saying that xcoinx will not be restarting anytime before oct 2018.
but will the xcoinx domain be around in oct 2018?
xcoinx was first registered in july 2014 with an expiry date of july 2018.
the domain was last updated in june 2017, but the expiration date was not extended to 4000 AD or something like that [since onecoin is going to be around forever]
affiliates better keep a watchout and ensure xcoinx doesn’t silently disappear before oct 2018!
kusetukset.blogspot.in/
Thanks Moi and Anjali. I have just posted an article (AWAITING MODERATION) which identifies Birmingham and also the unsuitability and death knell of XCoinx /. It will be difficult to restart with all the cobwebs and rust
@Lynn -post 9
I meant I am not sure that OC will effectively last another month and Kari will have to wear dark glasses for the rest of his life.
the Lisbon Conference will be like a wake -“all the symptoms of death”***— but still marketing.
***For anyone who has not seen this comedy quote look at the Father Ted series -when Father jack nearly dies. IT WILL TAKE YOUR MIND OFF ALL THIS ONECON SHIT.
Video message with Pierre Arens: “…sill hot temperatures there…”
Is not it getting hot in Sofia? 😀 😀
BTW – The way videos were recorded at OneCoin offices gives me an impression they are already packing the bags – see happy dance at cubby/corridor beside the (emergency?) stairs, stand-up welcome at almost empty room, unprepared Arens… and meeting debrief without Arens outside the office somewhere at the bar.
Maybe Evgeni Minchev -Ruja’s PR Mentor and groomer can visit the offices and show us what is left.
Alternatively do you remember that other building they were renovating in Sofia where they appeared to be constructing a bunker. Maybe that is the new office.
OK Adolf -who farted?-it was Ruja all along
youtube.com/watch?v=C_V4qj6gz8M
Thanks Ari!
kusetukset.blogspot.com/2017/09/bad-onecoin-now-sit.html?m=1
Monday again.OLNewsletter
More lies
“ONELIFE EVENTS
All members eager to learn more and get training from the most successful in the OneLife Network:
The Black Diamond- Mr. Staffan Liback
Latin American Ambassador- Mr. Jose Gordo
European Ambassador- Mr. Kari Wahlroos
Global Master Distributor- Mr. Sebastian Greenwood
can NOW order their tickets for the long awaited network events in Lisbon and Panama.
Receive tips and guidance on how to improve your leadership strategy towards achieving the next rank. All guests will take part in the most discussed topics within the Network and will get a chance to see and hear the Special Guest:
OneCoin CEO – Mr. Pierre Arens,
Save the dates!
LISBON- 6-8 October
PANAMA- 20-22 October”
http://mailchi.mp/75f7fd90e090/jxkey6m9c9-701061?e=a0e0b3336a
So the CEO of your company is seen as a “special guest” on a event of the company? Can someone explain this to me? And where is Ruja?
@MOI
What feedback from London and Birmingham over the weekend =particularly with the criticisms regarding the cancelled IPO, the return to Zahar’s unhappy looking team who paid a surprise visit to the office in Sofia and ended up looking like lepers in the pizza bar round the corner –maybe the restaurant didn’t take OneCoins?
More defections imminent or are we left with the entreched rump riding out every penny? That lot in Sofia looked stuck it is fair to say!
I see Panama has now been announced so I think they may be targeting Portuguese and Spanish speaking territories through Gordo and Liback.
With the demise /moving on of the Steinkellers they possibly see the Iberian countries and their former colonies as easy meat??
@cryptokill
Listen to the two idiots here, planning ahead for Pakistan and India…..Good luck guys. lol
youtu.be/o_qziGiFdZI
i have forwarded this video to the navi mumbai EOW as further confirmation of zafar’s and wahlroos’ intention to visit india.
a few indian onecoin leaders were posting live while this video was being recorded and zafar acknowledges them by name. so hopefully the EOW will have a few more people to arrest.