OneCoin @ BehindMLM

The UK’s Financial Conduct Authority has approved an individual linked to OneCoin’s money laundering network, for the role of “Money Laundering Reporting Officer”. On the absurdity scale, this isn’t far off appointing someone who worked directly under Bernie Madoff as head of the SEC.

In September 2016 the UK’s Financial Conduct Authority revealed OneCoin was under investigation. The investigation was headed up by City of London police. Ten months after the FCA’s OneCoin warning was published, it disappeared from the regulator’s website. To date there has never been an explanation as to why. In episode 9 of the BBC’s The [Continue reading…]

Former CEO Konstantin Ignatov has been dismissed from the OneCoin class-action lawsuit.

Gilbert Armenta, a resident of Florida, was a key figure in OneCoin’s money laundering operations. He has also been romantically linked to OneCoin’s founder, Ruja Ignatova. On September 12th, 2017, Armenta was indicted by a Grand Jury on three counts of extortion; conspiracy to commit extortion, attempted extortion and travel act extortion. Armenta was arrested [Continue reading…]

Two OneCoin promoters have been found in Mazatlan, Sinaloa. The bodies of Oscar Brito Ibarra and Ignacio Ibarra (no relation), were stuffed into suitcases and dumped in a vacant lot. An examination determined suffocation as the cause of death. Local Mexican authorities are treating the deaths as homicide and an investigation is underway.

Fok Fook Seng, better known as Fred Fok, has been fined $71,000 for promoting the OneCoin Ponzi scheme in Singapore.

Dutch media are reporting several police units responded to a situation at Igor Alberts’ and Andreea Cimbala’s Netherlands residence. The incident took place on Sunday evening and may have involved armed individuals.

In a bizarre ruling, two OneCoin Ponzi scammers in Germany have been acquitted.

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.

Plaintiffs in the OneCoin class-action have convinced the Judge to reopen the case. On April 28th a joint letter informed the court of both the plaintiff’s and defendant’s current positions.