OneCoin @ BehindMLM

Despite having no actual physical presence there, OneCoin up until recently claimed to be a Gibraltar corporation. This was set up as OneCoin Limited, who Ruja Ignatova’s mother, Veska Ignatov, laundered money through via Pegaron Invest Limited, a Bulgarian company. OneCoin’s virtual office address was formerly provided by AMS Company Management Limited. On February 2nd, [Continue reading…]

Laurent Loius was a member of the Belgian Chamber of Representatives from 2010 to 2014. In 2014 Louis received a suspended sentence ‘for slander relating to accusations of pedophilia he had made against public figures’. In 2015 Louis was banned from running for office for six years. Earlier this year Louis began promoting OneCoin, which eventually [Continue reading…]

Back in May OneCoin announced they were rolling out UnionPay branded cards for their Chinese investors. Such was the misleading marketing around the cards, that UnionPay had to issue formal clarification that the cards could not be used to conduct transactions in OneCoin. The UnionPay cards were dummy cards that OneCoin affiliates could load up [Continue reading…]

Unable to use its own company name, OneCoin had been opening up banks with shell company accounts every few weeks. As fast as OneCoin could open up the accounts, it didn’t take long for them to trip money laundering filters and be shut down for fraud. Here at BehindMLM we’ve been tracking these account closures [Continue reading…]

It’s looking like OneCoin’s banking roulette may be coming to an end, with news today they’ve lost their Singapore United Overseas Bank account.

If you thought OneCoin’s quarter of a million Euro investment packages sounded dodgy enough on their own,  get a load of how OneCoin is marketed in Vietnam.

Four days ago we reported on OneCoin’s Singapore UOB bank account appearing to be frozen. To continue to process affiliate investments, OneCoin opened up an account with Hellenic Bank in Cyprus. Less than a week later, it appears Hellenic Bank has terminated the account.

Over the past few weeks affiliates have been complaining about funds frozen in OneCoin’s United Overseas Bank. The status of OneCoin’s bank account with UOB in Singapore however is currently unclear. Rather than use their company name, OneCoin’s UOB account is held under the shell company Vernada Trading Pte Ltd. In related news, on October [Continue reading…]

Almost immediately after news of OneCoin’s Hong Kong bank account being shut broke, the company pushed out an announcement about payment delays. In light of ongoing closures, OneCoin had opened an account with China Construction Bank (Asia) Corporation Limited using the shell company name Foshan Everbright Import & Export Company Limited. Two weeks later the account was abruptly [Continue reading…]

A fortnight ago we reported on OneCoin having lost their Italian bank account, and opening up new one in Hong Kong. The Italian bank account was opened up with Banca Monte dei Paschi di Siena on or around September 21st. Twenty-four hours or so later and it was gone. Now it appears the OneCoin’s Hong Kong [Continue reading…]