OneCoin @ BehindMLM

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…]

The Facebook postings purportedly showing off merchants accepting OneCoin as a payment method are rampant. I’ve seen restaurants in Europe, car dealerships in Asia, take-out joints in Australia – all represented as merchants accepting OneCoin. You as a OneCoin affiliate simply walk in, purchase whatever it is you wanted, flop down your cell phone and [Continue reading…]

Last week OneCoin announced they were introducing a new €188,888 EUR “Supreme Trader” package. On top of that they’ve now introduced a Super Combo package, coming in at a whopping €225,500 EUR.

OneCoin’s use of shell companies is almost comical at this point. As soon as one bank account is shut down, OneCoin opens up a new one in another country with a new shell company name. Last month, after losing a Deutsche Bank account, OneCoin created an account in Italy under the name “Educamax Services SRL”. [Continue reading…]

Last we checked in on the status of OneCoin in China, police in Guandong had arrested local OneCoin affiliates and seized $45.7 million dollars. It is believed the Guandong investigation is ongoing but, other than OneCoin opening a bank account in Hong Kong last week, there’s been no OneCoin news out of China since. Now a [Continue reading…]

Would it be too much to expect a self-proclaimed multi-billion dollar company to hire coders to put together a custom app platform? When it comes to OneCoin, apparently so.

OneCoin’s banking rollercoaster woes continue, with the latest seeing the scheme open up a new account with China Construction Bank (Asia) Corporation Limited.