OneCoin @ BehindMLM

Authorities in Pakistan have “unearthed a huge business racket” in Pakistan, with those involved accused of promoting several dubious MLM opportunities.

A serial scammer has been fired following revelations she tried to recruit students into dubious MLM schemes.

With OneCoin promotional activity dead in all but the most third-world’est of countries, one could easily gain the impression that nothing much going on at a corporate level. Not so. Just last month OneCoin corporate was busy setting up a new wave of shell companies to cover their tracks through.

With efforts to secure quick judgment knocked back and there not being much of a company left to fight for, it was pretty obvious Chris Principe’s OneCoin defamation lawsuit wasn’t going to trial. Following the denial of an entry for default and harassment injunction, Principe’s defamation lawsuit was sent to mediation back in January. On [Continue reading…]

With OneCoin a laughing stock of cryptocurrency circles in larger countries, desperate investors hoping to recover losses are targeting smaller markets. An emerging source of revenue for OneCoin investment is Samoa, but not if the Central Bank has anything to do with it.

Last month we reported on the lift of a ban that prevented OneCoin from operating in Italy. That article was based on a 19th February published decision, which suggested that both the suspension and 2.5 million EUR issued fine had been rejected by the  Regional Administrative Court (Sixth Section). In an April 4th article titled, “OneCoin [Continue reading…]

Following an ongoing investigation into OneCoin by the Antitrust and Consumer Protection Authority, promotion of OneCoin across Italy was banned in late 2016. OneCoin’s response to the injunction saw the company claim one OneCoin shell company was not related to another, despite being owned and operated in tandem by the same people. The AGCM concluded [Continue reading…]

An internal investigation by Germany’s top financial regulator revealed OneCoin had received around 360 million euros into German bank accounts. The funds were deposited and transferred through OneCoin’s international money laundering network between December 2015 to 2016. Unfortunately by the time BaFin was in a position to seize the funds, only 29 million EUR remained [Continue reading…]

When exactly OneCoin began to run out of money is unclear. By January, 2017, however, affiliate withdrawals exceeded new investment such that the internal exchange had to be shut down. Despite promises of an exploding coin value for over two years, effective January, 2017, OneCoin severed affiliates from their invested funds. Over 2017 OneCoin continued to [Continue reading…]

Bulgarian authorities seemingly doing nothing while OneCoin operated a multi-million dollar Ponzi scheme has been a running joke. Now, working in cooperation with Eurojust and Interpol, the Specialized Prosecutors Office raided OneCoin’s Sofia offices over January 17th and 18th.