OneCoin @ BehindMLM

OneCoin defendant Gilbert Armenta is being pursued for unpaid mortgage payments dating back to April 2020. For some reason the Plaintiff’s attorney is having issues serving him.

In a startling admission, the FCA has bluntly confirmed it is unable to regulate securities fraud in the UK.

The FBI are feeling confident about Frank Schneider’s arrest. Two days ago two FBI agents arrived in the French city of Nancy. The reason for the visit was to ‘thank French investigators SRPJ and the BRI after the arrest in April 2021 in Meurthe-et-Moselle of‘ Frank Schneider.

As I’m used to covering US legal proceedings, how indictments play out in Germany is a little strange. But bear with me. Last November three OneCoin money launderers were indicted. Those indictments have now been approved by a District Court in Munster, paving the way for a criminal trial.

Keeping with the tradition of throwing its affiliates under the bus at the first sign of trouble, OneCoin has distanced itself from Ukraine government partnership claims.

Episode one of Netflix’s new Money: Explained mini-series features OneCoin and BitConnect. Both are MLM Ponzi schemes that bilked investors out of billions of dollars.

Two interesting updates have come from a May 27th Status Conference in Sebastian Greenwood’s criminal case. The first update is that efforts to negotiate a pre-trial disposition of the case have thus far been unsuccessful. As explained by prosecuting DOJ attorney Nicholas Folly;

Late last year OneCoin scammers began pushing the narrative that the Ukrainian government had entered into cooperation with the Ponzi scheme. Yesterday the Ukraine government issued an official statement, denying any partnership with OneCoin.

Around the same time US authorities began looking into OneCoin, Dubai’s General Department of Criminal Investigations raised money laundering concerns. How the parallel investigations concluded however, couldn’t be any more different.

Class-action defendants OneCoin, Ruja Ignatova and Gilbert Armenta have had entries of default recorded against them.