OneCoin serve cease and desist to journalist over Ponzi claims
The revelation that London police have officially launched an investigation into OneCoin has gained widespread media attention.
In an article published a few hours ago in The Mirror, Andrew Penman confirmed
a spokesman for City of London Police confirmed that detectives from its Economic Crime Directorate are investigating suspected fraud linked to OneCoin.
According to their website, the Economic Crime Directorate ‘is recognised as the national policing lead for fraud and is dedicated to preventing and investigating fraud at all levels‘.
Carter-Ruck, a law firm representing OneCoin in the UK told Penman that
neither the FCA nor the City of London Police have contacted our clients.
The scope of services Carter-Ruck provide to OneCoin is unclear. On their website the firm lists Media Law, International Law and Commerical Disputes as practice areas.
In his article, Penman reveals that one service Carter-Ruck provide is the attempted silencing of journalists who report on OneCoin.
Penman doesn’t name the journalist or publication in question, referring to them only as a “freelancer”.
Last month, the freelancer journalist purportedly received a cease and desist on OneCoin’s behalf from Carter-Ruck.
In a letter marked “private and confidential, not for publication”, it stated:
“The claims made in the publications upon which you rely are not accepted, most notably the claim that our client’s business is a ‘fraudulent ponzi scheme’.
“There is no public interest in the repetition of allegations which you have been put on notice are false.”
Whether the letter explained how OneCoin’s use of newly invested funds to pay off existing investors didn’t constitute Ponzi fraud is unclear. Ditto whether the freelancer journalist complied with OneCoin’s demands.
For the record, BehindMLM has not received any similar communications from OneCoin or its lawyers.