Norwegian regulator receives “no reply” from OneCoin
When news broke of London police’s investigation into OneCoin, the company’s response suggested dismay at having not been contacted prior to such a public announcement.
OneCoin is disappointed that the FCA has issued a statement without having first contacted the company.
OneCoin has not been contacted by the City of London Police.
OneCoin is committed to following good business practices and the relevant rules and regulations in the countries in which it operates.
It will co-operate fully with the authorities in pursuit of this objective.
The implication being that, had London police and the FCA contacted OneCoin, the company would have offered full cooperation.
In what might very well be a case of lip-service after the fact, elsewhere in the world OneCoin aren’t so forthcoming.
After receiving and continuing to receive inquiries about OneCoin being a pyramid scheme, both domestically and from international authorities, Norway’s Gaming Board sent a letter to OneCoin to ‘inform them about Norwegian rules‘.
Silje Amble, a pyramid scheme investigator with the Gaming Board, told E24 that the regulator doesn’t often send out such letters.
It appears such was the concern with OneCoin that in this instance the Gaming Board felt it was a necessary step.
The Gaming Board sent their letter on April 13th. The regulator has since requested confirmation from OneCoin that they received the letter but have yet to receive a reply.
Whether the Gaming Board is operating on a timeline with respect to OneCoin is unclear. At the time of publication the regulator has yet to open an official investigation into the company.
Earlier this year the Norwegian DSA issued a warning against OneCoin, referring to the company as an “ugly pyramid scheme”.