OneCoin @ BehindMLM

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.

Following the revelation that the Mauritian Independent Commission Against Corruption has been investigating OneCoin since March, further details of the company’s operations in Mauritius have emerged.

Authorities in India traced funds stolen by OneCoin affiliates to a Mauritian woman named Mary Beyance. Beyance worked with a partner in Bulgaria and, according to Indian authorities, sat atop a money laundering trail of at least $7.7 million USD. According to the Mauritian newspaper Le Mauricien, authorities in Mauritius are now investigating OneCoin.

In Macedonia it is illegal to invest in cryptocurrency. Following repeated general warnings about cryptocurrency, the country’s top financial regulator recently cited OneCoin as an example of a pyramid scheme.

As per a report from the Korea JoongAng Daily, authorities in Korea have launched a police investigation into OneCoin.

Belize, a tax haven in central America, isn’t really known for regulation. It’s seen more of an “anything goes” type jurisdiction. Nevertheless, the International Financial Services Commissions serves as the country’s top financial regulator. Charged with ‘providing appropriate supervision and regulation of international financial services‘ within Belize, earlier today the IFSC issued a cease and desist to [Continue reading…]

Siting atop the One DreamTeam OneCoin affiliate downline, the Steinkeller Brothers were purportedly taking home around $2.5 million dollars a month (so claims Ted Nuyten). With an established group of victims in One DreamTeam doing most of the recruiting work, all the brothers had to do was put in appearance at OneCoin events and continue to bank [Continue reading…]

The latest regulator to issue a warning against investing in OneCoin is the Central Bank of Curaçao and Sint Maarten. The warning, issued on May 23rd, applies to OneCoin, OneLife and the “OneLife Banking System” (believed to be the closed xCoinx exchange).

The interrogation of Indian OneCoin affiliates in custody continues to pay off, with a continuing investigation by the Mumbai EOW leading to two more arrests. While OneCoin is notorious for laundering money through shell companies at a corporate level, the Indian investigation is revealing how things work on the ground.