OneCoin Leaks: Simon Le’s resignation letter
In the lead up to his resignation as “captain” of OneCoin on April 1st, Simon Le claims to have “many sleepless nights”.
Details of what he was worried about are revealed in Le’s leaked OneCoin resignation letter.
Shortly after being appointed captain in late 2019, Le states that on December 4th he
had a chance to sit down officially with the current company management team to raise issues and (propose) a check-list of action plans that need(ed) to be focus(ed) on.
Le claims that meeting provided him with “more insights” into OneCoin that he “did not know before”.
Supposedly OneCoin’s latest marketing ploy is a new 250 billion coin blockchain. And Le thought this was a terrible idea.
It will greatly damage the trust of the members as Dr. Ruja mentioned in June 2016 London event, with the launch of new blockchain with 120 billion ONEs over the retired blockchain of 2.1 billion ONEs, (that it) will be the last increase in coin quantity.
It is a breach of trust to the community if we increase and change the coin quantity with every upgrade in our blockchain.
It’s worth pointing out that OneCoin has in fact never had a blockchain. This has been confirmed by Ruja Ignatova’s brother Konstantin.
In addition to trust issues, Le also expressed concern about OneCoin selling another 130 billion coins.
Our sales performance (slid) drastically from 2018 to present.
With our current network state, I cannot imagine how do we and how long it takes for us to sell another 130 billion coins in this competitive market which is do different from 2014-2017.
Moving away from OneCoin’s non-existent blockchain, Le also expressed dismay at a lack of communication.
I have raised a huge concern to improve the communication between me/King (network representatives) with company’s management team such as weekly conference call to speed up the progress update.
However, this request was not really welcomed (more or less, (it was) only (a) one-way desire from the Captain team).
On the management front Le states he was “shocked”
to find out the management has appointed Alex to be the puppet CEO of the company.
Alex refers to Angel “Foxi” Boyadzhiyski, who in addition to being OneCoin’s puppet CEO is also puppet owner of several connect companies.
Money wise with new investment plummeting after ROI payments were stopped in January 2017, OneCoin is in dire straits.
(OneCoin) has a Cash Account liability of approximately 650 million Euro.
This Cash Account is deserving bonuses earned through hard work in promoting and selling (OneCoin’s) product.
Our networkers have not be(en) able to withdraw cash for more than 2 years through backoffice withdrawal.
Even (if) the company agree(d) to set aside 50% of new sales for cash withdrawal purposes, hwo to take care (of) the huge amount like this in the current situation?
Le’s OneCoin resignation was tended on April 1st. It later emerged that he registered the domain (“onelinknetwork”) on March 5th.
Le launched OneLink as a OneCoin Ponzi clone within weeks of his resignation. Preparation for the launch however clearly began while he was still at OneCoin.
Since launch OneLink appears to have flopped. OneCoin still chugs along courtesy of faceless management in Bulgaria.
Three things come to mind.
One. Veska must have some kind of substance abuse problem. The “good name of the company” in her response to Simon? FFS!
Two. Once again it’s shown that there is no family loyalty. Simon raises the issue that a bigger, faker BC will damage Ruja’s credibility.
As laughable as both are, there are some people who still believe Ruja is some kind of persecuted genius. This is brushed aside. They carried in 2019 on knowing it would damage Konstantin
Three: Simon knew this in March last year. Everyone did
It doesn’t really contain anything new, except perhaps that €650 million estimate for the “cash accounts” hole (that the hole is there is of course not news). But it’s nice to see stuff we already knew confirmed in writing by someone that high up.
What is fun is that he completely forgets to keep up the pretence that they were selling educational packages, packages that, purely for didactic purposes, included some “tokens”, which first had to be assigned to a mysterious process called “mining” to produce coins.
He repeatedly, straightforwardly, admits that their business was selling coins.
It’s also amusing how the closest thing to a mention of Mark Scott’s conviction, Konstantin’s guilty plea, and Sebastian Greenwood’s upcoming trial, is “numerous bad press reports and authorities’ investigations”. And of course no mention at all of Ruja’s disappearing act.
Things we already knew include the fact that the whole supposedly separate OneLife thing, with their “Captains”, was always a complete sham, and that they never had any power, or even insight, in the real business.
The delusion is still strong, though. He actually believes it would be possible to bring in “outside partners/investors who can bring the expertise and fund/cash”. As if you can ever do that with a criminal racket.
Although the other day I happened to be reading about a non-MLM Ponzi scammer, Todd Hitt, who’s now in jail because he hired outside experts to bring his company into SEC compliance for a bonds issue.
Apparently never considering the possibility that such people might notice they were looking at the accounts of an, extremely simple, one-man Ponzi scheme, and report him. That could be the level of delusionality Simon Le is at.
Simon Le’s mention about collaboration and outside partners who can bring cash and expertise could be what this is all about.
It sounds like Simon Le and his contacts were planning to buy OneCoin and its user database, just like Ruja bought collapsed MLM-Ponzis (Conligus, SiteTalk/OPN) back in the day. Simon Le would have continued the scam under his OneLink brand, and setting up a new HQ in Asia. Ignatov crime family and Simon Le didn’t reach a deal, so Simon left.
A possible hint about these “outside partners/investors” was revealed in April, when big-time Asian Ponzi scammer Simon Tran was seen promoting OneLink Network.
Simon is associoated with the World Blockchain Forum, and these guys are certainly experts in creating modern MLM-Ponzis and have very deep pockets thanks to their blockbuster frauds (Plus Token and Cloud Token most of all).
The video is now unavailable, but I referred to it in this comment: https://behindmlm.com/mlm-reviews/onelink-review-simon-les-onecoin-ponzi-points-clone/#comment-422800
I guess OneLink was too dud for Simon Tran, because he is now pimping DAXIO: youtube.com/watch?v=CNFBupSV-7E
Am a member of one coin family, my country is Nigeria, am yet to withdraw since 3 to 4 years now, please verify my claim.
Eze Isiuwa
@Eze
You invested in a Ponzi scheme and your money is gone. There is no claim.
Sorry for your loss.
Semjon:
It’s hard to second-guess what goes on in the mind of people who are both deluded and criminal.
The fact that Le joined a Ponzi scheme without having an exit strategy, and still cannot comprehend that this one is dead as a dodo, shows he’s not very good at this ‘thinking’ thing.
But even if his talk of “outside partners/investors who can bring the expertise and fund/cash” was simply code for “selling of the user database to another criminal”, that really wouldn’t make any sense, since it wouldn’t solve the problem of that huge financial hole they have.
The failed MLMs they acquired were all much smaller, probably in the orders of tens of thousands of members each (except perhaps Rickett’s OPN/SiteTalk, which may have had hundreds of thousands), and they could simply give those newly-acquired members OC accounts with fictional amounts in them. But as the OC database grew ever more bloated, the gap between real money available and the total amount members think they have grew ever more insurmountable.
Le’s estimate of €650 million is only the cash accounts.
On the same day he sent his resignation letter, they announced the rise in value from €29.95 to €42.43.
With 110 billion coins sold, the amount of money members think they have in coins therefore rose from €3.3 to €4.7 trillion.
Before or after, it’s a ludicrous sum (Germany’s 2019 GDP is €3.4 trillion).
You’d have to be a very dumb scammer indeed to want to take on maintaining such a phantasmagorical financial fiction, all in return for nothing more than getting hold of a list of maybe 1.5 million (per Duncan Arthur) already-fleeced people.
Their latest attempt to sell something to them shows what kind of a market they’re left with right now: to date, they’ve managed to sell a grand total of 201 raffle tickets (1 over the last two days).
I have paid AUD1200 for this coin can someone help me how to get Back please?
You invested in a Ponzi scheme. Your money is gone.
Sorry for your loss.
I invested $230,000 US with a promise of 1,000,000 plus in return. So far I’m still looking for an email in response.
Any idea where my Dollars are??????
Sorry but i need to post this ;))
m.youtube.com/watch?v=fsgtUbNwxoM
(Ozedit: video is a Crowd1 testimonial shot in a busy street)
With the person who recruited you into a Ponzi scheme. Ruja stole the rest.
That Crowd1 video…
He’s in a real hurry shooting this “testimonial”, didn’t even have time to park in a more quiet location.
Probably in a rush to return the Merc to the car dealership or his limo driver friend.
The Mercedes had a dealer plate. Too funny!! Someone might want to ask him why he didn’t have his plates on the car instead of a dealer plate.
In January 2020, Simon Le showed this graphic in a business presentation and predicted that it would be possible to advertise one million merchants by the end of 2021.
share-your-photo.com/8d3a48e262
In memory of! On August 23, 2016 criminal Ruja Ignatova named these targets:
share-your-photo.com/b0935b7373
Today, four years later, the result looks disastrous! To date, only 131,805 merchants have registered on dealshaker.com. How many years will it take to recruit the 868,195 missing merchants?