OneCoin @ BehindMLM

Poland’s Office of Competition and Consumer Protection, more commonly known as UOKiK, has issued scam warnings against OneCoin (OneLife), NetLeaders (DasCoin), FutureNet (FutureAdPro), Questra World (Atlantic Global Asset Management) and Lyoness. The December 18th warning, published by UOKiK President Marek Niechciala, appears to be an end-of-year recap of regulatory actions taken by the watchdog.

Despite an alleged three million plus investors unable to withdraw the purported internal value of their OneCoin points, life is good for those at the top. Along with Sebastian Greenwood, Juha Parhiala holds the top investor position(s) in the OneCoin Ponzi scheme. Up until about six months ago, Parhiala boasted being the number one MLM [Continue reading…]

Amid rumours Kari Wahlroos had, despite keeping up appearances, effectively left OneCoin, today the company announced he’s been demoted.

Initially scheduled to take place on December 1st, the hearing on Principe’s harassment injunction motion has been delayed. On November 16th a joint stipulation was filed requesting the December 1st hearing be continued to December 22nd. The parties do not enter into this stipulation for the purposes of delay but instead do so because they [Continue reading…]

Although a bit late to the game, yesterday Portugal’s top financial regulator issued a OneCoin investment warning.

Ed Ludbrook joined OneCoin as Chief Sales & Marketing Officer, Chief Leadership Officer and Asia Ambassador in November, 2015. At the time Ludbrook described OneCoin as ‘a multi-trillion dollar opportunity that any fool will recognise once educated with the facts‘.

As what’s left of OneCoin management either quit or quietly disappear, top investors in the scheme have become a vital source of information for disillusioned affiliates. Eager for any news regarding their investments in limbo, “leaders” like Muhammad Zafar are vital in creating the illusion of stablity. Unfortunately for Zafar one of his primary outlets [Continue reading…]

Not content with filing a frivolous lawsuit over lost Ponzi PR earnings, Chris Principe has now filed for a “Preliminary Injunction Order Against Harassment”. Principe claims defendant Tim Curry is ‘threatening him and accusing him of criminal activity in the foulest, most vitriolic language possible‘, and has asked the court to silence him.

DasCoin CEO Michael Mathias is furious over comparisons of his company to OneCoin. Acknowledging that OneCoin is unable to ensure ‘compliance with US laws and regulations’, Mathias insists his DasCoin and OneCoin are ‘completely separate entities with absolutely no affiliation or connection or business association with each other.‘ Personally I wasn’t aware of anyone claiming [Continue reading…]

Earlier this year Chris Principe sued Timothy Curry for losses in excess of $75,000. In his lawsuit Principe alleges Tayshun publicly blasting him for his involvement in the OneCoin Ponzi scheme resulted in damages to his reputation. Dating back to a dubious Feb 2016 Financial IT cover featuring OneCoin founder Ruja Ignatova, Principe’s involvement in [Continue reading…]