OneCoin @ BehindMLM

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.

When news broke of London police’s investigation into OneCoin, the company’s response suggested dismay at having not been contacted prior to such a public announcement. OneCoin is disappointed that the FCA has issued a statement without having first contacted the company. OneCoin has not been contacted by the City of London Police. OneCoin is committed to [Continue reading…]

The revelation that London police have officially launched an investigation into OneCoin has gained widespread media attention. In an article published a few hours ago in The Mirror, Andrew Penman confirmed a spokesman for City of London Police confirmed that detectives from its Economic Crime Directorate are investigating suspected fraud linked to OneCoin. According to [Continue reading…]

WeShare Crowdfunding was a cash gifting scheme launched in mid 2015. WeShare Crowdfunding itself was a reboot of the Gold Crowdfunding gifting scheme, both owned and operated by James C. Hill (below right). By mid 2016 WeShare Crowdfunding had collapsed, leaving the majority of affiliates with loss. At the time a reboot through another unnamed gifting scheme [Continue reading…]

OneCoin represent themselves as a billion dollar company. Earlier this year in March, OneCoin claimed it’s Ponzi points had a market cap of $3.34 billion USD. Another marketing spiel routinely trotted out is the claim that OneCoin is the fastest company in history to reach one billion dollars in revenue. A new report from the [Continue reading…]

In a warning issued to consumers, the UK’s Financial Conduct Authority has revealed that London police are now investigating OneCoin. The Financial Conduct Authority (FCA) is a finance regulator in the UK that operates independently of the UK government.

The ruse behind OneCoin using newly invested funds to pay off existing investors is that the company sells cryptocurrency education. This education is delivered in the form of lengthy PDF files, filled with content either copied from third-parties with no attribution or loosely rewritten. Upon quizzing a random selection of OneCoin investors as to the contents [Continue reading…]