Finnish OneCoin scammer’s tax fraud trial begins today
A OneCoin scammer in Finland who dodged their taxes is facing trial today.
The unnamed man, along with four accomplices, was indicted on charges relating to tax fraud earlier this year.
The trial is taking place in Ostrobothnia District Court. Not sure how long Finnish criminal trials take or how much we’ll know till there’s a verdict.
The four accomplices, one of which was separately indicted on money laundering charges, are expected to face trial next year.
Both the tax fraud and money laundering indictments pertain to ill gotten gains obtained through the OneCoin Ponzi scheme.
Local authorities claim “tens of thousands of Finns” lost over €40 million euros through OneCoin.
Worldwide losses are pegged upwards of $4 billion USD.
Update 11th December – The unnamed OneCoin scammer received an eight month suspended sentence.
The man was senteced eight months of conditional discharge:
svenska.yle.fi/artikel/2019/12/10/korsholmare-tjanade-stora-pengar-pa-att-salja-onecoin-utbildningar-domdes-till
It appears that OneCoin being a criminal ponzi-pyramid scheme wasn’t even touched — the issue was only that Finland’s Tax Office didn’t get its fair share of the monies that the man managed to steal. Therefore Finnish justice systems sees MLM scamming as a form of legal con job — taxable source of income just like anything else.
The judge even praised the man that he didn’t take his criminal loot to Cayman islands but ultimately paid the tax debts.
What a disgrace.
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Source: salkunrakentaja.fi/2019/11/onecoin-toiminta-jatkuu/
Maybe the upcoming trial of one of his accomplices for money laundering will have a different outcome and expose OC for the Ponzi it is.
I agree this was nothing more than a slap on the wrist and basically telling him not to do it again. While the government got “theirs” the victims got nothing.
^^ The proper tranlsation of that would be “… the culprit can be found inside people’s heads”. But it’s not as bad or funny as the when you machine translate the article I referred in message #1, you discover that at the end of the article, Google translated “korsholmaren” (a person from Korsholm) as “cross-dresser”. 😀
I wonder how it reached that translation because the literal translation of ‘korsholm’ would be ‘cross island/islet’.
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It’s a little bit off topic on this particular subjcet, but via that salkunrakentaja.fi site, I discovered this story which puts many ponzi ROI claims in a proper context:
ofdollarsanddata.com/the-greatest-money-making-machine-of-all-time/
So the world’s best legitimate “money making machine” can pull off on average 66% annualized returns (before fees) and 39% annualized returns (net of fees).
I think Ponzis typically claim to reach 100s or even 1000s percents of returns.
Thanks for the update Semjon.