OneCoin sued in Germany, fail to obtain injunction
Hire a law firm to send out some extortion threats, tell your investors and sit back and watch them flood social media with claims websites all over the world are getting sued.
Turns out in the real world, a Ponzi scheme wishing to silence reporting of financial fraud is a little more complicated.
In addition to handing over the money, OneCoin also wanted Coinspondent to remove and stop covering the regulatory ban of OneCoin in Germany.
Through the law firm Lampmann, Haberkamm & Rosenbaum, OneCoin claimed that merely reporting on the ban was “unlawful”.
Coinspondent responded by raising a “considerable five-figure sum” and going on the offensive.
In a blog post dated July 21st titled “Bitcoin vs. OneCoin: Action is filed”, Coinspondent reveals a lawsuit against OneCoin has been filed in the regional court, Landgericht Berlin.
Coinspondent claim BaFin’s “negative verdict” against OneCoin paved the way for their lawsuit, which was filed against OneCoin LTD and a local affiliate.
The judges are now to assess the extent to which the warnings (about OneCoin) from Hamburg and Cologne from April this year were right.
After Coinspondent failed to pay OneCoin’s ransom, the company filed for an injunction.
Not surprisingly, OneCoin’s injunction motion was denied.
The decision has been appealed to the higher court Oberlandesgericht where it awaits review.