OneCoin @ BehindMLM

In 1994 the Zhejian Higher People’s Court in China convicted Chen Man of murder. He was initially given a suspended death sentence, later commuted to life imprisonment. Questions about the legitimacy of Chen’s trial have always lingered. The fairness of Chen’s trial was questioned at the time, with his lawyer identifying 18 contradictions in his testimony. Wang [Continue reading…]

Strapped for cash or part of larger money laundering plans? Capital are today reporting that earlier this month Ruja Ignatova sold OneCoin’s Bulgarian headquarters.

Bjorn Bjercke refers to himself as “Mr. Bitcoin Norway” and works as a cryptocurrency blockchain developer. As per his resume, Bjercke has 19 years experience with IT solutions, where of 12 years within the Banking and Finance sector. In September 2013 my interest in Bitcoin sparked. Bjercke (right) has been working as a “Project Manager [Continue reading…]

Regulatory concerns about OneCoin are heating up in Norway, with news that the country’s top regulator has asked to attend a recruitment event this Saturday. Norwegian banks have also started blocking investment into OneCoin.

aUganda is the latest country to issue a regulatory warning against OneCoin. A notice published by the Bank of Uganda on February 14th all but accuses OneCoin of being a Ponzi scheme.

In his own words, when Chris Principe ‘first heard about OneCoin, (he) thought it was either a scam or a pyramid scheme‘. That quickly changed  after OneCoin paid Principe to run a fluff-piece in his Financial IT publication. In addition to paying an undisclosed amount of money to change Principe’s opinion of the scheme, OneCoin [Continue reading…]

In contrast to the speed of which European authorities are investigating the scheme, OneCoin warnings from consumer protection agencies continue to roll in. The latest is a January 25th warning from Slovenia’s Consumer Association.

In an interview with German radio station SR3, Thomas Beutler of Saarland’s Consumer Protection Center has warned against OneCoin investment.

Following a large number of bank account closures in 2016, OneCoin began to get very secretive about their banking details. Previously accounts for affiliates to deposit invested funds into were provided in the backoffice. Today affiliates need to go through designated “leaders” who route invested funds into OneCoin’s accounts. Ari Widell, author of the Scam [Continue reading…]

Citing previous OneCoin pyramid scheme warnings from Latvia’s Financial and Capital Market Commission, the government’s Consumer Rights Protection Center has today issued their own warning.