Austrian Public Prosecutor launches OneCoin criminal investigation
Early last year Austria’s Federal Ministry of Labour, Social Affairs and Consumer Protection issued a warning against OneCoin.
Some point after it appears the Austrian Financial Market Authority (FMA) opened their own investigation, the conclusion of which has now prompted a criminal investigation.
The FMA is Austria’s top financial regulator and has the power to impose administrative penalties of up to 10 million euro, or 15% of a company’s total net turnover.
Upon investigating OneCoin, the FMA found OneCoin marketing videos that advise affiliates to
recruit mainly from their circle of friends and acquaintances, which pays large commissions.
This suspiciously sounds like a pyramid scheme.
One of the top affiliates in the Steinkeller brother’s “One Dream Team” is an Austrian affiliate, with an estimated 48,000 affiliates under them.
The FMA don’t name the affiliate but have observed him or her hosting OneCoin recruitment events in Austria.
Upon concluding OneCoin was a pyramid scheme, the FMA ‘alerted law enforcement authorities‘.
The Public Prosecutors Office of St. Pölten has launched a criminal investigation, citing suspicion that OneCoin are operating a “fraudulent pyramid scheme”.
The investigation appears to still be in its early stages, with prosecutors yet to name any suspects.
May 13th, 2017 at 7:19 pm Oz(Q)
Can anyone who speaks German translate this:
Auto-translate makes it sound like the FMA has reimbursed three OneCoin affiliates for their losses.
Just want to make sure before I publish.
May 13th, 2017 at 7:43 pm Garden(Q)
No. Three criminal complaints were filed for alleged fraud, embezzlement and organisation of a pyramid game.
May 13th, 2017 at 7:50 pm Oz(Q)
Filed by the FMA or Public Prosecutors Office?
Thanks, didn’t think it was a refund.
May 13th, 2017 at 8:11 pm Mag. Juggens(Q)
The FMA filed three criminal charges. Because of the aforementioned criminal charges the Public Prosecutors is investigating.
It looks like criminal investigations have been instituted.
May 13th, 2017 at 8:23 pm L.(Q)
There is a forthcoming “event” in Austria hosted by a Pascal-Rene ANDRE, officially still on: onelifeevents.eu/en/events
We’ll see if he shows up. If they keep chickening out every time even believers might start asking some questions.
The next ones are in Romania, Greece and France.
May 13th, 2017 at 8:23 pm toiy(Q)
Its not robbery or violant crimes its financial how it can be criminal ? What can be criminal element in this?
I dont think so… its all just financial… nothing criminal about this.
May 13th, 2017 at 8:30 pm Mag. Juggens(Q)
@toiy: Please look into §168a StGB (criminal code of austria).
May 13th, 2017 at 8:32 pm L.(Q)
@toiy, you should read the first paragraph of en.wikipedia.org/wiki/Criminal_law which is very general and applies to every country.
Scams are a criminal offense in any civilized country.
May 13th, 2017 at 10:45 pm K. Chang(Q)
So you’re saying financial scams are not crimes?
Tell that to Madoff.
May 13th, 2017 at 11:46 pm WhistleBlowerFin(Q)
toiy can tell Madoff, that what Madoff did was all just financial, nothing criminal, when Madoff gets out of the prison after 142 years. 😀 😀
May 14th, 2017 at 12:10 am Whip(Q)
lol. yes, you could be arrested. sleep tight.
May 14th, 2017 at 1:44 am Asphyx(Q)
Why u feed the (onecoin) trolls?
I can also state “hey to me, onecoin is a legit cryptocurrency” and wait for your arguments 🙂
May 14th, 2017 at 1:48 am Asphyx(Q)
Let’s just summarize the past.. Germany has taken a knock-out approach on the topic, Austria does now. England is on it.
USA is out of the game, but you dont want to go there anyway doing things like this. Ruja’s vacation location, anybody?
May 14th, 2017 at 4:25 am Lynndel "Lynn" Edgington(Q)
So far she is doing fine in Bulgaria, as they don’t seem to give a dump about her Ponzi. Must be getting paid too much money to look the other way. Why leave a safe haven, especially with all the property you bought there?
May 14th, 2017 at 4:27 am Lynndel "Lynn" Edgington(Q)
When you lose your money you have invested in OC, you will be screaming bloody-murder for the authorities to charge her with stealing, which is a criminal offense.
Nice try at deflection, but you failed miserably.
May 16th, 2017 at 5:23 am poinpoin(Q)
she was in macau last week wth a big smile all over her face after she done a huge event.
May 16th, 2017 at 3:38 pm Klaus Detlef(Q)
Thanks for information, it came to my attention there was some event there which supposed to reveal the ultimate blockchain proof. But the outcome was a piece of shit only.
Plus, no applause when she went off the stage. Aw, how humiliating this must have been! Imagine a self-proclaimed queen, whose people turns away from her. How much of a queen is left, then?
May 16th, 2017 at 3:58 pm littleroundman(Q)
Fraud = criminal.
Conspiracy = criminal.
Money laundering = criminal.
Aug 19th, 2019 at 10:45 pm Chidambar.v.Heblikar(Q)
Hello sir i am invester in one coin company in year if April 2016 u.s.dollars 8000 from date to till now.
one coin company not enter in exchange what is problem why company CEO makes too delay is it way of doing to company investers ,how long can wait already 5 years going complete company CEO Ruja ignatova she doesn’t shame is too shameless woman in world.
she earned 5 trillens u.s.dollars from MLM network, why she thinks to investers, let them go hell I too trillens dollars it’s ok to me, she might think, but it own good for her because she cheated to world invester what she have respect in world wide, CEO post respect she could not maintain.
hole world joined members were hate to her in company launch I feel company office something fraud work done by her K..ignatova & top GLC diamond leaders were also cheated to company, but these circumstances why company investers are suffer in last 4 years.
so who ever please read my message please to for word Company CEO Ruja ignatova let she repent how middle class person & poor man suffering by in in hole world but I personally hate her ,& I request her to CEO please DONT BE FUCKED company investers this will please don’t do it to public it’s an offence by Law & by GOD.