OneCoin @ BehindMLM

Whereas some countries are taking a more proactive approach against OneCoin, others still grapple with a lack of regulatory authorization. The latest country to fall into the latter category is Malta, following a OneCoin warning issued by the Malta Financial Services Authority.

When a regulator tells OneCoin or one of its shell companies to stop operating in a country, OneCoin’s standard response is “but OneCoin doesn’t operate in that country!”. Technically OneCoin operates out of Bulgaria, through a shell Dubai incorporation. OneCoin was incorporated in Gibraltar but was kicked out late last year. In an effort to combat the [Continue reading…]

The fallout from BaFin’s freezing of OneCoin’s bank accounts in Germany continues, with more and more victims coming forward to report their losses. BaFin investigators have labeled OneCoin “one of the most dangerous money games of recent years”. The latest figures released by investigators on Thursday, April 13th revealed “at least” 25,000 investors Germany have [Continue reading…]

According to an April 14th news report from Kazakhstan’s Tengri News, officers of the Economic Investigation Service in Astana have arrested several OneCoin investors.

German authorities began investigating OneCoin mid last year. In the immediate aftermath of the investigation announcement, OneCoin lost its Deutsche Bank account. The conclusion of the investigation, led by the country’s top financial services regulator, saw remaining known bank accounts in the name of IMS International Marketing Services GmbH ordered frozen on the 17th and 20th [Continue reading…]

Late last week OneCoin published a press-release claiming Swedish police had closed their investigation into OneLife. ‘ Citing an unsourced “police statement”, OneCoin claimed police had “indicated” there was no basis upon which to continue the investigation as there was no reason to believe that an offense had been committed. The Police confirmed its decision [Continue reading…]

I don’t really follow chatter surrounding the bigger downlines of MLM companies too closely, but over the last few weeks OneCoin has been rocked by a series of high-profile departures. “Top Earner” David Imonitie, formerly of Organo Gold fame, joined OneCoin last October. For reasons he doesn’t go into, earlier this month Imonitie confirmed he [Continue reading…]

OneCoin, being the Ponzi scheme that it is, was never going to risk launching in the most tightly regulated market in the world. Despite stringing early OneCoin investors along with promises of a US launch, the charade was quietly dropped in October, 2015. Spear-headed by Sal Leto, Maurice Katz and other affiliates, US OneCoin recruitment went [Continue reading…]

Back in December the Antitrust and Consumer Protection Authority (AGCM) ordered the suspension of OneCoin promotion in Italy. In early January OneCoin responded to the AGCM’s promotional ban by claiming they’d ‘never promoted OneCoin and/or OneLife in Italy‘. In late January police raids on recruitment events revealed OneCoin was still being promoted locally. This prompted the AGCM to [Continue reading…]

Yesterday the Congress of South East European Women Entrepreneurs held their annual event in the Croatian capital of Zagreb. As part of a sponsorship agreement the Ministry of Economy, Business and Trade and Congress organizers, Croatian President Kolinda Grabar-Kitarović and Deputy Prime-Minister Martina Dalic were scheduled to speak at the event. On the day of the [Continue reading…]