Norwegian Gaming Board requests info on OneCoin affiliates
OneCoin’s days in Norway appear to be numbered, following a request to the company’s Norwegian lawyer for information on local affiliates.
The Norwegian Gaming Board began investigating OneCoin in early 2016. In April the regulator sent OneCoin a refresher on Norwegian MLM rules and regulations.
The regulator followed this up with a request for confirmation the letter had been received, however as of October no reply had been received.
In a bit to get more information about the company, the Gaming Board requested an invite to a Norwegian OneCoin event earlier this year in March.
OneCoin failed to respond, so the Gaming Board attended of their own accord.
In an attempt to fend off Norwegian authorities after the event, OneCoin told the regulator it had “no business in Norway and no plans for it”.
Having attended a Norwegian OneCoin event and seen Norwegian OneCoin affiliates with their own eyes, the regulator called OneCoin’s bluff.
This is totally irrelevant for their efforts to prevent pyramid scheme operations in Norway, and their right to put the company on the spot.
There are many such companies that operated from abroad. But having no dedicated Norwegian branch is not an obstacle for us to scrutinize a company and possibly to cease activities that are illegal in Norway
Shortly after that response was made public, it was revealed Økokrim, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime, had sent the Gaming Board an inquiry about OneCoin.
Things are now heating up, following the Gaming Board request for more information on the OneCoin’s Norwegian affiliates.
In a letter dated June 6th, the Gaming Board told OneCoin’s lawyer they “need information about individuals who operate OneLife OneCoin in Norway.
Specifically, the Gaming Board hopes to have Norwegian OneCoin affiliates provide documents that show they have
received revenue from a revenue system where compensation is paid … due to the sale or consumption of goods, services or other benefits, and not to other (participants) in the system.
In a nutshell, the Gaming Board wants OneCoin affiliates who have been paid commissions to demonstrate revenue to pay the commissions was obtained via retail sales.
As per OneCoin’s business model, the company has no retail customers.
Every OneCoin participant is an affiliate, with 100% of company revenue, which is used to pay commissions, sourced from new affiliate investment.
The Gaming Board has asked OneCoin to
provide names and addresses of those who operate OneLife and OneCoin in Norway by receiving commissions from OneLife and OneCoin who are residents of Norway.
As per the Norwegian Lottery Act, MLM companies that derive more than 50% of commission revenue from internal sources (affiliates), operate illegally as pyramid schemes.
OneCoin complying with the request for information on its Norwegian affiliates equates to the outing of pyramid scammers to the authorities.
Penalties for breaching Norway’s Lottery Act include fines or imprisonment for up to three years. Accomplices share the same liability.
Oz:
I don’t know Norwegian law, but here you certainly meant “more” or “at least”, not “less”.
Thanks for catching that 😀
Message from the “OneCULT Task Force” Group:
TOM “convicted felon” McMurrain is supposed to be in Sweden 10/6 Saturday.
Have been trying to figure out where the event will take place. asked all sort of places in Mall of Scandinavia, but no luck.
Anyone knows?
onelifeevents.eu/en/events/cryptoburst-2017
Launch of new website: onecoinscam.info
Currently it contains articles on the following topics:
a. The System Architecture of the IMA Accounts on the one side and the Blockchain Simulator (including Blockchain browser) on the other side. Both areas are strictly separated. More info about the characteristics of the OneCoin Blockchain Simulator will be added during the coming days.
b. Summary of nine categories of tests/experiments with OneCoin transactions in the OneCoin and Coinsafe IMA Accounts. None of these transactions are visible on the Blockchain browser screens.
c. Analysis of six new Audit Reports which were published in the onelife.eu backend in April 2017 and which cover the first six months of OneCoin “Blockchain” Version 2, launched on October 1st 2016. All Audit Reports are just as worthless as the first series covering “Blockchain” Version 1.
d. Prohibitions and warnings from legal authorities.
e. Overview of closed Bank Accounts.
onelifeevents.eu refers to the Mall of Scandinavia in Solna: mallofscandinavia.se
Address:
Mall of Scandinavia
Stjärntorget 2
169 79 Solna
Wiki: en.wikipedia.org/wiki/Mall_of_Scandinavia
@OneCoinInsider.
Thank you very much.i have written to the boss of the Mall a week ago and to several restaurants around the place but oneone has a clue of the event, at least they say so…. lol, we’ll see.
Thanks for the new site. Going through it now.
Did you try this one already?
olearys.se/stockholm-mall-of-scandinavia/conferences/harvard-hall/
Email: mos (at) olearys.se
Yes, yesterday. but they knew nothing about it. But i do wonder. most suitable place.
@OnecoinInsider – The Onecoinscam.info website opens with, “This website contains no facts, only opinions, opinions and opinions. And views. In our view OneCoin/OneLife is a Ponzi & Pyramid system…”
Is there not a way to issue a less definitive disclaimer??
Obviously, I understand exactly why this is put on the forefront, but each and every team leader will use this to immediately dissuade and deflect any and every piece of information following this opening and halt any further interest from their victims beyond these words.
Perhaps, “Due to history of Legal threats and/ or posturing in this and similar types of cases, we are compelled to issue the following disclaimer: The evidence presented herein is OPINIONS, OPINIONS AND OPINIONS. It is up to each individual to draw their own conclusions. The experiments presented herein are……”
Thoughts?
This text was meant to be ironic, not a formal disclaimer. We meant the opposite because the website contains 90% verifiable facts and experiments and only 10% opinions and conclusions, based on those facts.
But your point is clear, this irony will not be understood by the majority of the OneLife members and can be counterproductive, and that is NOT what we want. So we have changed the intro text. Thanks! 🙂
What you need to do is CLEARLY separate the facts and the opinions. IMHO, of course.
Since the Norwegian Gaming Board is seeking OneLife/OneCoin affiliates to provide them their payments and what these payments were based on, I knew that Rune Fjortoft, serial Ponzi pimp, would want to comply.
So I provided the Gaming Board his name and address. It’s the least I could do since I know Rune always claims he would never do anything illegal (cough, cough).
As a side note, German major news magazine FOCUS today covers the topic online. Here is what they say:
NOLINK: focus.de/finanzen/news/onecoin-krypto-waehrung-lockt-mit-riesen-gewinn-warum-sie-keinesfalls-darauf-reinfallen-sollten_id_7228207.html
It’s not available in English, but the message is okay.
That Bitcoin in generally accepted and that there are some strange things going on about OC which people should be aware of.
Since this online service has a wide range of influence, now even the most ignorant German “investors” should get the message.
LOL. “Proof Banks Still Accept & Cashout OneCoins Mastercard 2017 – And a Visit to OneLife Crypto Center”
This video is really something. Goes to archive.
Rujas lapdogs Tavakoli Nilzenius and Ihrene Abrahamsson showing up as well as “poor” Pablo…
youtu.be/MkVs5Gq2rkQ
Slightly off topic but has anyone any news of what hapoened to Pablo ? Or has he disappeared as easily as fake blockchain iteration 1 ??
@myalterego – Pablo sent a short and curt response to …concerns over his LinkedIn stating, “I am fine, thanks for asking.”
Dutch Minister of Finance’s response to parliamentary questions about OneCoin:
rijksoverheid.nl/documenten/kamerstukken/2017/07/05/antwoorden-kamervragen-onecoin-en-onelife
Same old passing the buck story. Apparently there’s some amendment law making it’s way through the EU, but until then European financial regulators aren’t going to do anything about crypto Ponzi schemes.
That leaves criminal regulators to go after them…
No updates from the Norwegian Gaming Board yet
This seems to be Dutch, it can be a challenge for mr roald mailly/igor alberts/peter shaw who live in Holland.
Ehm Oz,
Norwegian Minister of Finance’s…..??
These are questions asked by a Dutch (The Netherlands) member of parliament and answered by the Minister of Finance and on his behalf the Minister of Justice.
They (the AFM Financial Authorities) are aware that the British and Belgian regulators have issued warnings but they indeed refer to the responsible authorities like the Dutch Gaming Board and ACM (consumer Authorities) to investigate.
They in turn do not comment on running investigations.
Damnit, I always get these two mixed up!