OneCoin lose “secret” Abu Dhabi bank account
Following a large number of bank account closures in 2016, OneCoin began to get very secretive about their banking details.
Previously accounts for affiliates to deposit invested funds into were provided in the backoffice. Today affiliates need to go through designated “leaders” who route invested funds into OneCoin’s accounts.
Ari Widell, author of the Scam Detector blog, recently discovered that one such account was held with Abu Dhabi Commercial Bank in the UAE.
Widell appears to have deduced OneCoin was using the account via information available through a OneCoin giftcode website.
Unable to use their own company name for some time now, OneCoin had opened the UAE account using the shell company name “SAFA Trading Ltd.” Widell claims OneCoin had been using the account to accept investments of more than 7500 EUR.
Two days after Widell went public with the Abu Dhabi Commercial Bank details, the bank froze OneCoin’s account.
I have to give credit to the bank for its swift action against money laundering. Hopefully this will prevent at least some of the ponzi victims from losing their money.
Widell has also identified a OneCoin account with Banco Sabadell in Spain. The account is in the shell company name “One Payment for all S.L “.
The Spanish bank they still have an account in hasn’t reacted yet. The bank account in question has been used for money transfers below 7500 euros.
Widell reports that in light of the Abu Dhabi Commercial Bank account freeze, OneCoin are now routing investments of 7500 EUR or more to the Banco Sabadell account.