OneCoin @ BehindMLM

Hire a law firm to send out some extortion threats, tell your investors and sit back and watch them flood social media with claims websites all over the world are getting sued. Turns out in the real world, a Ponzi scheme wishing to silence reporting of financial fraud is a little more complicated.

OneCoin’s association with an unregistered charity has caught the attention of the UK’s Charity Commission. According to the Charity Commission, As-Sabur Global is registered with Companies House but not the commission itself.

When it was announced about a month ago that OneCoin founder Ruja Ignatova would be answering questions on a live webinar, it was assumed that probably wasn’t going to happen as advertised. Yesterday the webinar took place and featured Ignatova, CEO Pierre Arens and top earner Sebastian Greenwood. Frequently glancing at notes, the trio attempted [Continue reading…]

After observing violations the Banking Act (Bankwesengesetz), the Austrian Financial Market Authority has issued OneCoin with a cease and desist. OneCoin stands accused of “carrying out (unauthorized) banking transactions” within Austria.

Just over a week ago Indian authorities in Mumbai filed a chargesheet against six OneCoin affiliates. The affiliates stand accused of promoting the OneCoin Ponzi scheme in India. To date officers from the Mumbai EOW have arrested twenty-three suspects in connection with the promotion of OneCoin across India. Following up on the original chargesheet filed [Continue reading…]

To ensure six top Indian OneCoin scammers arrested in April do not post bail and flee, the Mumbai EOW filed a charge sheet against the accused last week.

Back in April Kazakhstan authorities arrested top OneCoin investor Mirsaitova D.K. and several of her local downline. The case is being handled by the Economic Investigation Service, a department of the State Revenue Committee. In response to a media enquiry, yesterday the SRC provided an update as to the current status of the case.

Last weekend OneCoin held an affiliate rah-rah event in Vietnam. Coinciding with the event, a document purportedly signed off on by the Vietnamese government began doing the rounds. According to Vietnamese OneCoin affiliates, the document was “proof OneCoin has been officially licensed in Vietnam”. Not surprisingly, a few days ago the Vietnamese government issued a [Continue reading…]

With twenty-four OneCoin affiliates already behind bars, Indian authorities are closing in on top Indian OneCoin affiliates. The latest out of India is reports that the Economic Offenses Wing are “hunting” four Indian nationals and Mary Beyance and Ereena Andreva.

OneCoin’s days in Norway appear to be numbered, following a request to the company’s Norwegian lawyer for information on local affiliates.