OneCoin investment fraud warning issued in Australia
The Australian Securities & Investments Commission is the latest regulator to issue a warning against the OneCoin Ponzi scheme.
As per ASIC’s investment fraud warning, the regulator warns OneCoin
could be involved in a scam. Do not deal with this business as it is unlicensed in Australia.
ASIC goes on to state that OneCoin Limited
has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.
Owing to the passive nature of OneCoin’s investment opportunity, to operate legally it needs to register itself with financial regulators in every jurisdiction it solicits investment in.
Despite launching in 2014, to date OneCoin has failed to register itself with a single financial regulator.
Gee, pretty soon they’ll even issue warnings about MMM, Bernie Madoff, Lou Pearlman, PIPS and Freeland Ops!
Really ahead of the curve there, Aussie!
Jesus Wept…
Steady on, they’ve got to get to that Charles Ponzi fella and his stamps first. These things take time.
True fact, long after Charles Ponzi was arrested, ponzi scams were marketed in American cites with the catchphrase “Authentic Charles Ponzi Business Plan”… the very early version of the cheerleaders now who keep on plugging a scam long after its obviously collapsed. They never learn.