Chinese authorities differentiate OneCoin points from legitimate crypto
We’ve been covering the Chinese investigation into OneCoin since April, 2016.
Owing to Ruja Ignatova’s roots with BigCoin, a similar Ponzi points scheme that primarily targeted Asia, China initially emerged as a primary source of OneCoin investment.
Along with all but a few third-world countries, investor recruitment in China died early last year after OneCoin suspended ROI payments.
Last week Chinese regulatory action against OneCoin and its promoters concluded, following prosecution of the remaining four suspects.
In total some 98 Chinese OneCoin affiliate investors have been prosecuted for promoting the scam.
One particularly interesting aspect of the case emerged in its wake, relating to how Chinese authorities have differentiated OneCoin from legitimate cryptocurrencies.
Speaking to the South China Morning Post, Beijing-based attorney Jack Ding stated;
Public documents show that cases about Bitcoin or Ethereum accounts being stolen have rarely been accepted by Chinese police since last September.
This is because the police think it’s hard to determine the real value of the stolen crypto properties.
However, the OneCoin case falls into the category of an alleged internet pyramid sales scheme, which makes it different to the stolen cryptocurrency cases.
While I’m certainly not condoning cryptocurrency fraud at any level, it’s interesting to see an official differentiation between OneCoin’s Ponzi points and legitimate cryptocurrency.
OneCoin and it’s affiliate investors have insisted OneCoin is a cryptocurrency since 2014, despite
- the company centrally controlling distribution of OneCoin points
- no evidence of a OneCoin blockchain existing
- there being no true public value to OneCoin points and
- no public trading or adoption of OneCoin points
As part of the Chinese investigation authorities were able to recover $267.5 million before OneCoin could launder the money out of the country.
Globally Chinese authorities estimate OneCoin has duped investors out of around $2.4 billion dollars.
OneCoin’s founder Ruja Ignatova has been in hiding since mid 2017. Her current whereabouts are unknown.
OneCoin have Dealshaker platform to accept OneCoins. Is it real?
Realy you can buy good for OneCoins or this is another puzzle of this scam?
you may exchange onecoin for coupons on dealshaker, not goods and service. and its yust an internal points system to move onecoins around in.
its an awfull site where onecoin IMAs “offload” crap (litterly) to other onecoinbelivers.
the “unoffical onecoinexchange” uses dealshaker to trade coins = fiat our fiat= coins aswell (buy price from 3,5cent/coin).
The phones are starting to ring off the hook with downline victims calling their upline pimps and asking:
“Where are the CoinSafe Coins!?”
I’m LMAO, here!!
There are basically five kinds of stuff available in DealShaker:
1) Some items that are sold “50% euros, 50% OneCoins” and the euro part ITSELF covers ALL of the price of the product (meaning that the coins are completely worthless).
2) Some lucrative “100% on onecoins” items like iPhones, cars or whatever that have the “becomes available in”-date set to some distant future. When the date arrives, the deals are mysteriously gone. (A clothes seller was recently selling over 300 different kinds of jeans in DealShaker for 100% coins. The day when the deals were supposed to become active, all of the open deals of that merchant just dissappeared.)
3) Products that – judging from the merchant profile and/or product description – are literally made-up deals (my guess is that OneCoin has paid someone to create fake deals to fill the store).
4) Products put for sale by OneCoin affiliates who try to make something out of the system. Usually these are in range of old books, used landline telephones, used clothes,… you name it.
5) The most rare case: legit deals 100% by onecoins. These are set up by merchants that have been sold to believe there is a functioning business behind the DealShaker and OneCoin.
These deals usually end up being removed prematurely. (A restaurant in Finland sold steaks and fries for 100% OneCoins.
They quit doing it when it became obvious they they can’t use OneCoins to buy more meat and fries, nor can they exchange OneCoins to euros to buy more meat and fries.)
It seems that all of the deals there eventually fall into one of these categories.
Very good summary Otto.
I’d like to add that the point of DealShaker is what they say it is — “DealShaker is a virtual advertising platform”.
This is typical OneCoin obfuscation: cultists see it as a e-commerce platform that will one day rival Amazon but it’s officially just an advertising platform.
If I was an accountant for a company that “sells” goods/services on Dealshaker, I would treat everything “sold” there as a marketing expense.
Treating them as sales would lead to all kinds of (e.g legal and financial) trouble.
Assuming that Oz allows me to, I’ll link to these two coverages of DealShaker from the Scam Detector blog:
http://kusetukset.blogspot.com/2017/08/onecoin-clogged-dealshitter.html
and
http://kusetukset.blogspot.com/2018/01/onecoin-dealshakers-new-years-flush.html
Those pretty well sum up how the numbers of the platform do not meet the reality.
Oh. It seems the URLs have extra ” in them. Well I can’t edit those so either clear the last character of the browser address bar or copy-paste the address from above.
I’ve fixed them.
This is a FANTASTIC and fresh new DETAILED BIOGRAPHICAL REPORT of how Onecoin SCAM grew throughout China, how it was pursued and finally prosecuted, how $267.5 million dollars (yes! Over 1/4 BILLION USD) was recovered, and how 100 criminal leaders of Onecoin have now been prosecuted, over 1/3 having already begun serving PRISON SENTENCES of 3 to 5 years or more!
news.sina.cn/gn/2018-06-05/detail-ihcqccin5968478.d.html?from=wap
I’ll see about an informal translation in a couple hours.
OneCoin Pyramid Sales 15 billion CNY involved, small town sudden riches buy mansions and luxury cars
By Beijing Youth News
Today Fudongzhen is quiet. But on May 24th, when Hunan prosecutors brought charges against 4 suspects, people are reminded how this small town fell for the mania of OneCoin.
In 2015, OneCoin entered Fudongzhen, and the scam spread quickly. By 2016, local police found at least 140 participants in town.
Zhuzhou police quickly formed a 200+ persons task force to tackle this head on, and in the next two years, trekked through 20 different provinces and cities, and unraveled the entire organization around the country.
Total amount of money involved is 15 billion CNY, with over 2 million accounts involved. Police have arrested 119 suspects, with 1.7 billion frozen.
This is the financial crime in China that so far involved the money money, and with the most arrest, and it all happened with “victim zero” in this small town in Xiangdong.
“A town infected by OneCoin”
If you go from Fengling city, toward southeast, you’ll arrive in Dongfuzhen in about 20 minutes. The location is known for fireworks and ceramics, plenty of manufacturing and commercial activities, yet it didn’t lose the small town feel, where everyone knew everyone else.
About two years ago, when a Mr. Zhang was arrested, fear spread throughout the twon. Zhang was once town secretary, and is a renowned citizen. He has over 30 in his OneCoin downline, including family, friends, relatives, even neighbors.
Zhang kept a journal, a habit he kept from his accounting days. It recorded everything that had to do with oneCoin, like OC account numbers, passwords, downline names, a table of which ranks needed how many Euros of investments (130 for Starter, 530 for advanced, etc.) Zhang prefer to use Yuan though (975 CNY for starter)… He doesn’t use Euro, yet he deals with Euros every day.
Zhang first heard about OneCoin from his brother-in-law Wang in may 2015. He clearly recalled, “you’ll multiply your money in no time”.
Wang showed Zhang the basic operations on a computer. Rank 1 is 130 Euros, rank 2 is 530 euros, rank 3 is 1030 Euros. Not only there are fixed income, there’s referal bonus, matching bogus, and so on.
Zhang handed over 3725 CNY for rank 2. In the next year, he put in over 180000 CNY, and expanded his downline to include his sister, brother classmates, even motherin-law and 70 year old father.
“I really thought it was investment, not pyramid scheme. I regret everything, Onecoin ruined me,” Zhang said when interviewed by reporter. (NOTE: Translation not exact) Zhang said he saw his balance keep going up, and he was convinced it worked, “Otherwise I would not have convinced my dad to invest his retirement money.”
Soon news spread all over town “Zhang made it big with Onecoin。“
Reporter asked all over town, and may neighbors of Zhang said that they verified the story with Zhang, and helped him find new recruits. “We don’t understand the technical terms. We just know it makes a lot of money, so we gave him money.”
Soon neighbors, friends, town officials, everybody in town who has some free capital wants to try OneCoin. Zhang bought a computer and was helping people with their OneCoin accounts, dozens of people per day.
“Most people don’t care about their account details, the only care about the number/money,” Zhang recalled.
The town veterinarian Chen told the reporter that he got people together to invest in a higher level for more payout. “I got 11 other people to invest with me, about 280000 CNY.”
Chen got a couple thousand back in payouts, and within six months, convinced his family to invest another 60000, and recruited his sister, cousin, aunt, uncle, and more as downlines.
“If this didn’t blow up, I was about to quit my regular job. 60000 is twice my yearly income,” Chen said.
Liu, Zhang’s neighbor, said, “We know people, we don’t know product. If not Onecoin, maybe other coin.” Liu hoped to enjoy his profits two years after putting in his own money
Social Group Epidemic Spread
While OneCoin spread through Dongfuzhen from person to person, others took to the Internet via social media and other social groups.
Zhzhou Public Security Bureau 2nd Unit Detective Supervisor Yang explained that Fenglin is ground zero for OneCoin, with two primary perps. Zhang was the first, and the other is Wang, also in the same town. Both of them developed over 30 downlines.
Wang’s upline (who’s Wang’s nephew) lives in Jiangxi.
Wang has a large social circle, and he formed a “Fengling OneCoin Sunshine Group” on WeChat in May 2016 with his OneCoin downlines and use that to promote OneCoin.
“I wanted more downlines, so I can get the referal bonus,” Wang formed a trip to Fenglin’s local dam to party, and also promote OneCoin.
In a year, Wang’s downline ballooned to over 400, and amount exceeds 4 million. The case was so large, local police moved the case to the provincial capital’s police department, and it became a priority case in August 2016.
The breakthru came when police analyzed Wang’s downline structure. “Analysis shows that Wang’s overall rank is actually relatively low, even though he’s the leader in Fenglin.” Local police supervisor Lee expalined.
Police tracked the suspicious fund transfers and quickly isolated the participants and unravelled the entire network within 60 days, and the network spread throughout China across 20+ cities and provinces, and even outside of China, this is truly a nationwide and transnational crime syndicate.
Money was funneled into Shenzen, Dongbei, Beijing, and Shanghai, in the amount of tens of millions at a time.
The seminars became the main recruiting tools.
Yang, 58, travelled regularly among Jiling, Changcuan, and Shengyang OneCoin operations to hold seminars about Onecoin recruiting and operations.
Yang also has a WeChat group with 477 members. “If OneCoin announced a split, or earned bonus, members will post their success to the group, and will be congratulated.” Yang said.
Lu, who had done direct sales before, has both a QQChat group and WeChat group. He invites anyone showing interest into the groups, plus private messages, encouraging investment into OneCOin, with extremely quick returns. And he’s quick to dump members who don’t pay up.
Through this method, he got over 700 downlines, down 10 or more levels.
(Continued, this is getting a bit long)
The seminars target a large number of people at a time. “OneCoin National Conference” was held in December 20, 2014 in Harbin, and the OneCoin event in Dubai in May 2015 has 1/3 (out of 3000 attendees) from China.
There was a OneCoin event in Wuhan in Oct 2015, an event in Hong Kong in July 2016, and Bangkok Thailand event in September 2016.
“Every bit of new about you can make more money, makes you more excited,” Yang said. This encouraged him to find even more downlines and reinvest money he had made.
The sudden riches lead to excessive spending
“Lots of people were in OneCoin, most of them are in to ‘get rich quick. But the people controlling the capital is not the person holding the capital. The true beneficiaries from the scam are the leaders on top of the pyramid.” Yang said.
When police have unraveled the organization, Police made the priority to go after theleaders first, prioritizing by downline count, amount benefited. that came out to four categories:
1) Top leaders based on genealogy 2) where did money transfer went to 3) who got the most payout, esp those who earned more than a million euros, 4) those who got paid $$$ buying “voucher codes”.
In the list of the large netearners, reporter found that many seems to have direct sales experience, and after getting a large payout, many of them have a bad habit of spending in excess to buy luxury goods and luxury cars.
Gao, 62, was in insurance, and direct sales in two companies. She got into OneCoin in Sept 2014, and left 1 year later, having developed 7128 downlines (182 levels!) and profited 6.63 million CNY.
Gao purchased real estate in Tianjing, as well as got into other pyramid schemes like netgold and other kleptocoins.
Wang, 51, retired, bought an LandRover with profits (worth 1.4M CNY in China) and another million on jewelry, outfits, and more, as well as spending the money on stocks and real estate. Wang and her son spent over 2 million in less than a year.
Yang, mentioned before, was retired education official, and was indicted in 2013 for participating in a pyramid scheme.
Yang was abl to develope enough downlines and converted bonuses into “voucher codes” and sold those to profit of 14 million CNY, to be spent on debts, investments, and even bought a Porsche.
Wang wrote in his diary that he felt things are off, so he sold the Land Rover he bought for 900K CNY for 750CNY, lost another 110 at a casino, and other expenses.” Police records show that Wang has 3527 downlines over 47 levels, with profit exceeding 2 milion CNY.
Police supervisor Lee explained that because the network is online, it spread extremely quickly for huge amounts. Two of the suspects managed to trade those voucher codes to the tune of 2.5 BILLION CNY, which added difficulty to tracing the money.
UNMASKING THE GLOBAL SCAM
until August 2016, based on the Zhuzhou task force, OneCoin is believed to have 10.77 million accounts, with 1.47 million in China.
Total voucher codes is believed to be 4.8 million, worth about 15.8 BILLION Euros, out of which 1.42 codes are in China, worht about 1.9 billion Euros. Actual codes used is 760K, worth about 900 million EUros.
TaskForce officials stated that OneCoin, lead by the Bulgarian woman, claim to be 2nd gen crypto”, “future world currency” and such claims, to falsely solicit investments. In reality, once registered, there is no cancellation and no refunds.
To join, onemust have referal from existing member, and pay to join at a certain rank with appopriate activation voucher codes.
Officially each member can have only two direct downlines, each of whom can have tow direct downlines as well, and so on and so forth.
OneCoin claims to pay both passive and active. In reality OneCoin has no value. One can only trade OneCoin on OneCoin’s platform, and there is a limit to daily trading volume per person.
Profit there is impossible. Mostly, people profit by referring more people for the various bonuses and sell activation voucher codes. like sales, matching, and so on.
The so called rewards are required to reinvest 40% into OneCoin. The rest (60%) can be cashed out.
Supervisor lee gave an example. If A referred B to join at the 530 level, A gets a 50 bonus, but A can only take out 30. The other 20 is automatically converted to OneCoin into A’s account.
If A referrs C, A gets another 50, and because A now has both B and C, there’s a matching bonus of 50.
If B managed to recruit another downline, B gets 50, but A gets a 25% (out of 50) downline bonus. Thus, the more downlines, the more A gets. OneCoin calculates bonuses onece a week.
“The cash account can be withdrawn, but there are high fees involved, and various limations” Supervisor lee continued.
Every member needs an activation code to join, so existing members use their cash account to buy activation codes instead, avoiding fees, and thus, simply pocket the money from local new joinees. This became how the local participants fleece other locals.
Supervisor Yang told the reporter, “OneCoin is registered outside of China, but the founder and others are fugitives from Justice. Any Chinese citizens participating is violating the law. There is no such as ‘real market’ or ‘fake market’. ”
In Sept 8, 2017, Zhuzhou judged the first 35 suspects. two were sentenced to 5+ years in prison. 33 got less than 3 years prison or probation, plus fines from 10000 to 5 million. 1.368 billion CNY has been conficated. The third group, final 4, has been indicted.
NOTE: Names are NOT ACCURATE, and some place names are NOT 100% accurate as well.
Italy re-open to OneCoin? What do you think?
Well it was never closed. There was a fine attached to peddeling onecoin in italy while the investigation/case was being processed in italy. And the fine was temporaly suspended while investigation is goeson/finnishes.
@K.Chang – This is the part which is perplexing:
Can those numbers perhaps be off by 300% to 500% (or misquoted)!?!?
…. or perhaps those include unspent or unredeemed vouchers…?
Let me check that Chinese version again:
>全球激活码总数达480万个，约158亿欧元；
Global activation code total is 480×10000, or 4.8 million codes.
158 “yi” Euros. Each YI is 10000×10000 or 100 million, so 15.8 billion is accurate.
I’m guessing they meant every activiation voucher code ever generated by OneCoin. Since later they gave “actually used in China” numbers.
Wasn’t Sebastian Greenwood in charge of promotions in China?
Since they froze his bank account, wonder if they will bring charges against him. One can hope.
It’s not only in China where leaders still promise riches. Parwiz Daud some time ago had a video on his Facebook from a small event in UK where these leaders were bragging to the audience how they have so many coins they are millionaires.
Parwiz Daud was clever enough to remove it, and unfortunately I didn’t download it. But one of his downline leaders Imam Ismail gave just recently a nice example how the “selling of education” is still nowadays:
Top OneCoin leader Imam Ismail promising: “all of you guys will become very rich in the future”.
Thanks for the effort Kasey.
@Lynn
I doubt China will go after Greenwood. They’ve got the money.
Pursuing him in Thailand or wherever he’s hiding now isn’t worth it.
David Hay, a popular and respected cryptocurrency vlogger and philanthropist who produces regular cryptocurrency news, interviews and reviews, did a very nice “scam alert” video on Onecoin yesterday which already has 6K views.
He contacted Steve Ruffly, a Trader & Market Analyst, whom Onecoin uses for their Forex Trading education.
Mr. Ruffly essentially claims no affiliation whatsoever with the company and further states that his image and material was used without hours knowledge or permission.
Onecoin’s CEO (Chief Excuse Officer), Igor Krnic, badgers the video, and in later comments claims to have “official word from the company” that Mr. Ruffly is essentially lying to avoid “the haterz,” or some such nonsense.
Anyway, comments section resembles BitConnect comments pro and con, circa winter 2017.
m.youtube.com/watch?v=i54M36n6FqQ
Steve Ruffly update shocker. A fellow Consumer Protection Advocate exposing the Onecoin fraud case made a post on a forum a few hours ago stating that while they had never before visited Steve Ruffly’s Twitter page, when they had just gone there they had found themselves already blocked.
They suggested maybe I try myself, just to see if it were some quirk.
I’ve never heard the man’s name before, let alone visited his Twitter page, but sure enough when I did…:
“You are blocked from following @SteveRuffly or viewing @SteveRuffly’s tweets.” Twitter
Ruffly has blocked my (CryptoXpose) Twitter as well. I have never even heard of him before.
It seems he is worried we ask inconvenient questions.
Somebody, most likely Igor Krnic, or some other from OneCoin no doubt suggested the blocking to him.
It’s possible Ruffly wants the money, but doesn’t want to be connected otherwise to OneCoin, and doesn’t want his Twitter audience to know his OneCoin connections. That’s possible. Who knows.
I must be special because I can access his personal Twitter feed and business Twitter feeds. I didn’t see any reference to OC on his Twitter page.
Tim was right about Denis Murdock – another blunder by Chief Excuse Officer soon to be deleted:
NOLINK://i.imgur.com/3MtzOmm.png
Keep on deleting your mistakes Krnic, we got them all covered
NOLINK://archive.fo/CUorL
NOLINK://archive.fo/1WgIp
NOLINK://archive.fo/B0deH
Hey Tim, did Krnic apologize to you yet ?
Forget about an apology, did Krnic acknowledge he’s just making it up as he goes along?
Igor admit he is making it up? You’ve got to be kidding. He’s a genius and he is just one of a few that understand the brilliance of OneCoin and Ruja’s vision.
All the regulators have got is all wrong. It’s a shame that OC did not make him the official spokesperson for OC so he could have straightened out all these regulators that are just too ignorant to see the brilliance and the genius of OneCoin. (cough, cough)
@AntiMLM
Well, he actually published the acknowledgement in his ONecoin debate …errrr … I mean circle jerk. I don’t exactly think anyone could ask for or expect more than that.
Krnic is an interesting case. I feel like David Douchevny in X-Files: I WANT to believe him. Lol.
If he indeed invested 60.00 BTC, that’s $411,237.90 which he paid for “education” at today’s rate. I’m flabbergasted that he maintains the CEO position do voluntarily.
But, I mean, in March 2016 I reported having spoken with Tom McMurrain, whom I described as “nice” and “inquisitive,” and someone whom was going to take my concerns up directly to Ruja Ignatove herself, come CoinRush, 2016, June 11.”
How little did I myself know about this space and these scammers then!?
Since we’re flashing back to that conversation, which I think @K. Chang pointed out at the time (rightfully so), its sometimes hard to identify “wolves in sheeps clothing.”
The more videos McMurrain made, however, the more he revealed himself as purposefully stealing money from his recruits (given that he obviously had a deep enough understanding of BTC to know it wasn’t a “company,” yet used that very argument in many of his videos (Oz Dephi has all of them, I believe, and Crypto Xpose YouTube channel has some of the best, as well!).
I told him I’d pay him in BTC to send a copy of Ruja’s book, “Learning for Profit,” which he promised (but rather than deliver, immediately blocked me on social media, despite my foolishness of giving the convicted criminal and career con-artist the benefit of the doubt).
That was around March 2016 which I had spoken with him for around 40 minutes on the phone.
Ruja had just recently made a video wherein she accused anyone investing in any kleptocurrency outside of Onecoin to be a traitor!
Curiously, he agreed with me on nearly every point someone fluent in crypto would. But, later went on to preach that joining OneCULT was “like trading $10 bills for $100 bills,” and so much more nonsense (like he did in Zeek, TVI Express, etc.).
And now …what’s up with “CoinMD?” Lol.
An anonymous network, soon thereafter, got him kicked out of Sal Leto, Maurice Katz and Jason Richard Mangan (and his wife’s) “I-Pro Network (Aka: Pro-Coin),” which also, I believe, Kevin Foster and Sarah _______ ended up being a big part of.
Sal Leto documented a direct conversation between he and Ruja, saying that she had given them the databases of al USA citizens, in order to ease there Onecoin losses, after Onecoin would clearly not fly in the states.
That era of Onecoin also saw scammer, McMurrain lose his popular show called “The Coin Profit” on Grant Cardona TV. With Cardona elminating McMoron’s sleazy “let’s talk about crypto/ bitcoin and then let me sell you on this ponzi fraud” gig.
A bit later, McMurrain and “Dr. Zafar” had their big India Tour planned, in which Authorities only missed him by about a week, and both of their plans for pilfering new victims in the region was cut short …
SEE: youtube.com/watch?v=oiVZTekNjhU – I love how the word “scammers’ translates into “scammers” even in English in this video!
Later, CoinMD was created by McMurrain, which seemed to be mostly a flop.
Wonder how much stolen funds he may be sitting on now? There’s waaaay more details I COULD say, but there is also a fine line, considering other factors contributing to the perceived prudence regarding the bridling of my tongue.
I’m skeptically looking forward to finally seeing some of the most shocking information come out eventually, which might include the complexity of circumstances allegedly surrounding Ed Hartley’s unfortunate, curious, and premature demise in Ho Chih Minh, following a “botched surgery” and peculiar circumstances!
Allegedly, his departure from onecoin resulted in significant losses from Vietnamese “cooperatives,” which may or may not ever truly come to light!
The tentacles Onecoin had in Vietnam, Thailand, Singapore and China may not ever truly be known to their full extent until the final dust settles, if at all.
That’s the wicked scary stuff with international participants and bankers, which I hope will finally come to light in the final day of reckoning.
Whelp, the marketing geniuses and economists at OneCULT/ OneLie Network have done it again!
They’ve just unwittingly devalued the price of their Ponzi-point-coins by over 99.5% this time!!! Hahahahaa!
Onecoin, which is supposed to ‘go public’ in 4 months, and which claims an (internal) “Value” of 20.75 euro per coin (ie., per ponzi points) just did the stupidest thing ever and held an auction for a real car (BMW)!
Well guess how that turned out? And how do OneLife leaders value the coin?
Not so much, apparently, as a BMW was sold at the DealShaker expo auction for 3.6 million “Onecoins,” (which is just under 75 million euros internal “value”), just months before the coin should go to public market, seeking savvy “buyers”/ “investors.”
Thus, just 4 months before members believe they are *offering it up to the open market, thereby making everyone gazillionaires (all failed Economics 101, apparently, and obviously don’t understand anything about crypto/ markets), members themselves drove down the price to a dismal 0.014 euro each!
This is HALF the price which packages with the pseudo-coins had been selling for on Russian Black Market (formerly 0.035 euro per point when sold inside packages through DecoyShaker platform). Hahahahaha!!!
OneLie Diamond’s Cristi Calini’s FB: facebook.com/cristi.calina.5/videos/1797914363591531/
On YouTube: youtube.com/watch?v=TcAlgyzWxlk
Oh, another thought. The first bid was 10,000 ONE (ie., more than the price of the car, at $207,500) and the second bid at twice that. However, 2 of the final 3 bids raised the price by 400,000 ONE each (in other words, by over $8,000,000 per bid).
Between the last 4 bids, the final price settled at a million ONE higher than the 5th recent bid. Aren’t auctions supposed to. work the opposite way, wherein the final bids dwindle and whittle the final price to try to squeeze the last juice from the lemon? LMAO!
I think I’ve pointed out before that McMurrain is a convict and has a LONG history of ponzi schemes and scams that spanned over two decades.
He was in TVI Express, ZeekRewards, FlexKom, as well as two more scams, one of which he fled to Panama for (and ran another scam there) until he’s caught and extradited back to US and spent time in jail for (believed to be 5 years).
NOLINKs://amlmskeptic.blogspot.com/2016/04/is-it-just-series-of-bad-judgment-or.html#more
Haha! The coin value that the auction revealed is yet another nail in the coffin for the scam.
While the victims are anxious to hear details and good news relating to OneCoin, yeasterday a new video was uploaded on Onelife youtube channel, in which Konstantin seems to be hyping some new upcoming education product.
The Next step in Onelife evolution is some “education product”, and perhaps OneCoin will be quietly buried like Aurum Gold Coin, Ruja’s 2015 “hybrid currency”.
Clarification on the real and actual price of the assembly line produced (medium-end) BMW 2 Series Convertible which was promotionally given away for free to well known OC/ OLN Ponzi scammer from the UK who threw worthless Monopoly money points at it, in an epic and ironic back-firing effect:
Retail price including VAT in UK is ~35,000 GBP = ~40,000 EUR = ~$47,000 USD
Divided by the auction offer of 3.6 million OneCoin (“ONE”) That’s $87,866,851.54 USD.
This brings the OneCoin value to a whopping 0.01111111 EUR.
So, why do we currently see a Ponzi “value” as 20.75 EUR in the “onelife dot eu” Dashboard?
Now many of Onecoin’s Ponzi victim’s themselves recognize that the organisers of this auction caused more damage than 100 “haters” combined, and that this was a marketing catastrophe.
Let’s see what mind-bending excuses “CEO” Igor Krnic (a slightly smarter and more financially committed version of Ken Labine) can come up with as an excuse! I must give it to them, that scammers and indoctrinated CULT sect disciples are pretty creative even when we think we have them in a box surrounded by pure logic.
(credit to “Greyson Hansley” for identifying BMW series 2 and drawing exchange denomination comparisons)
Breaking news! The official excuse for Ruja’s absence is maternity leave. In order to protect the kid, she doesn’t want to be a public figure. What a lame excuse!
From the video recently uploaded where Konstantin answers questions from Vietnamese victims:
youtu.be/hQZiITKNkcU?t=10m36s
At the end of the video, Konstantin is about to show pictures of the Ruja’s baby to convince the victims but tells everybody to turn off their cameras. (He probably showed old material from couple of years back with Ruja and her baby).
Can’t believe you guys are still talking about this stuff?? Don’t you have lives? Move on – the world will always have vulnerable and gullible people being exploited by those who are only motivated by greed and have no or low morals.
They still have to look themselves in the mirror at night and they know that their parents would be ashamed of them.
That’ll have to be enough along with the old adage that ‘a fool and his money…….’ you know the rest.
People discussing a scam on an article about said scam. More so relevant that said scam is still at large.
And you’re complaining about it? Mate the Disney Channel is that way –>
See yourself out.
and yet……..here you are.
Geez, how long does it take you to write a post on the blog ??
The following message is currently visible in the Onelife.eu back-office (bold added):
NEWS: Frank Rickets resigns? – latest rat to jump the sinking Onecoin ship.
Serial ponzi artist, Frank Rickets, took the helm of a Captain-less ship following wide spread Press of Ruja Ignatova’s unannounced departure last year….
Re: The CROSS ROADS – To be or not to be – (Topic:) German Investigation
Post by Igorkrnic » Thu Jun 14, 2018 4:55 pm
RE: Tiger One wrote: ↑Thu Jun 14, 2018 9:20 am
SOURCE: onecoin-debate.com/viewtopic.php?f=2&p=8867&sid=aacfd3a278174df5bc378b211749900f#p8867
Frank Rickets RESIGNS!!!! ONELIFE – ONESCAM.
Muhhamad Zafar Left quietly , now members are saying that he is not CEO only a leader and that he is waiting that coin go public.
WHAT A NAIVE BRAINDEAD DOWNLINE HE HAS!
And Ruja still has not been seen or heard from for more than 10 months now. OH wait, the excuse is she is on maternity leave and fears for her life.
Still waiting for Konstantin to make his big announcement that the investigators found that OC did nothing wrong, and support it with proof before they provided their report to the Prosecutor.
After all that is the way investigations are done, well according to Igor that is.
Swedish Crown Diamond Pehr Karlsson, who silently resigned from the ponzi & pyramid network, seems to be in trouble.
Together with his business partner Håkan Melin he initiated a new airline Nobis Air, that plans to establish routes from Växjö to Arlanda and Oslo.
Nobis Air currently is waiting for permission from the Swedish Transport Agency to get started. However Karlsson’s prominent role in OneCoin/OneLife, which has been declaired a Pyramid system by the Swedish Tax Agency, has not gone unnoticed.
Smålandsposten is following the story closely, but unfortunately the info is behind a paywall. The headlines say a lot already however.
NOLINK://smp.se/om/nobis+air/
– Pehr Karlsson was leader in Onecoin longer than he said
– Good reputation is required to drive airline companies
– “No one has lost any money” (quote by Pehr Karlsson)
– “There is no capital from Pehr” / Håkan Melin says that Pehr Karlsson has not invested any capital in Nobis Air
– Top rated in pyramid games leads Växjö’s airline
VXO News also has some articles.
NOLINK://vxonews.se/nyheter/styrelsen-vill-veta-mer-efter-granskningen/
(Google Translate)
NOLINK://vxonews.se/nyheter/nya-flygbolaget-i-vaxjo-granskas/
GDPR rules finally! Bjørn Bjercke uses GDPR inquiry to prove that Asenshia actually contacted him about OneCoin C-level (CTO) position and blockchain creation, contrary what OneCoin and Igor Krnic previously have claimed!
GDPR notice email from Asenshia to Bjorn Bjercke:
https://i.imgur.com/ta39NCc.jpg
https://i.imgur.com/umUEAlP.jpg
Bjorn Bjercke’s GDPR inquiry results from Asenshia:
https://i.imgur.com/GAC7GH0.jpg
https://i.imgur.com/watOfAq.jpg
Thanks for the heads up WhistleBlowerFin, and to Bjercke for going the extra mile.
Igor Krnic Chief Excuse Officer response in 3…2…1…