OneCoin @ BehindMLM

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.

Following two pre-trial defeats, Chris Principe’s defamation lawsuit against Tim Curry is heading to mediation.

Last weekend Igor Alberts fronted a DagCoin recruitment event in Tallinn, Estonia. His marketing strategy? Slamming the collapsed Ponzi scheme he stole millions of dollars through.

BusinessForHome’s first article on OneCoin was published on April 1st, 2015. Not a joke by any stretch of the imagination, in it Ted Nuyten reported on OneCoin’s purchase of the Conligus affiliate-base. This paved the way for victims who lost money in the original Conligus penny auction pyramid scheme to be double-scammed. Rather than report [Continue reading…]

Last October Chris Principe filed a motion requesting a harassment order against defendant Timothy Curry. Principe argued that Curry was harassing him and requested the court prohibit him from doing so. Specifically, Principe wanted to enjoin Curry from “[c]ontacting [Principe], either directly or indirectly, by any means, including but not limited to, by telephone, mail, [Continue reading…]

Back August/September it emerged that thirty-five OneCoin affiliates had been arrested in China. In a ruling that pretty much certified OneCoin an illegal pyramid scheme across China, affiliate sentenced ranged from probation to “several years imprisonment”. Appeals against the sentences were filed, with a ruling handed down a few days ago.