Tanzanian prosecutors to recover $6.9 mill in OneCoin funds
As part of an ongoing investigation, prosecutors in Tanzania have moved to recover $6.9 million in stolen OneCoin investor funds.
The balance in question was obtained through IMS Marketing Tanzania Limited.
The company is owned by Frank Ricketts and Manon Hubenthal (right), who oversaw laundering of OneCoin investor funds nationally.
The Director of Public Prosecutions has asked the Corruption and Economic Crimes Division of the High Court to seize $6.9 million held in two IMS Marketing bank accounts.
Both accounts are held at Bank of Africa, containing $1,351,597.79 and €5,377,306.56 respectively.
Presumably Ricketts and Hubenthal would have transferred the funds offshore had they of been able to, so presumably there’s a freeze order in place.
Bank of Africa was the slowest bank to respond to OneCoin fraud, finally shutting the company’s accounts down in late 2016.
The DPP submits that Ricketts and Hubenthal traveled to Tanzania to register IMS Marketing Tanzania in January 2014.
The company was registered under false pretenses, with neither OneCoin or the collection of money from the public mentioned as a stated purpose of the business.
The DPP have charged Ricketts (right) and Hubenthal with
three charges of conspiracy to commit an offence, money laundering and unlawful operating a pyramid scheme.
Arrest warrants have been issued however both scammers remain at large.
Frank Ricketts is believed to be hiding out in Thailand. He continues to scam members of the public through Cloud Horizon.
Manon Hubenthal’s current status and whereabouts are unknown.
Update 7th April 2020 – On April 4th the Corruption and Economic Crimes Division of the High Court ruled prosecutors are permitted to seize the requested $6.9 million amount.
Judge Elinaza Luvanda ruled that the government can now take the money that was being held by IMS Marketing LTD after agreeing with an application by the Director of Public Prosecutions, Biswalo Mganga.
Prosecutors had also asked for backdated interest from Bank of Africa, however the court denied this request.
OneCoin scammers in Sofia increased the ponzi point coin “value” over 40% from 29.95€ to 42.43€
i.imgur.com/F7jbbij.png
Wahrloos new scam offering covid 19 medical supplies on line.
is there any lower depths this low life can go is this the amazing opportunity he has been looking for the past year.
I think this price increase could have some legal implications.
The last time it was Konstantin who initiated the increase. (You can read from the court transcipt how it was done manually, with Krum Angelov.)
This new increase can’t be pinned on Konstantin, so there is new group of people who signalled to the SDNY prosecutors that they are knowingly & actively continuing this brazen fraud.
Incredible that Veska Ignatov, Georgi Georgiev, Vanya Angelova and Kristina Gouneva are still willing to increase their risk of spending rest of their lives in US prison system. But most likely Simon Le gets arrested first…
Here are the relevant sections from the transcript:
This is a great passage for those idiots cheering the price increase:
Semjon:
Please tweet what you wrote there to UK based scamsters Kamran Hye and Jamil Khan who know OC is a scam, don’t care and are using the apparent increase as a selling tool in their respective immigrant communities.
Once again the lack of the UK authorities to do anything is not surprising. As with Corona, the UK has overtaken Italy as the European epicentre of something destructive because of an inability to plan and execute.
Word on the street is that Simon Le, one of that last real rat kings, has finally jumped ship.
Waiting for a third source to confirm, as well as some time to pass between the whole “April Fools” thingy.
Allegedly, the price increase played a role in his nervousness/ anxiety to do so, indeed.
Lee can join Warhlroos in is new scam , selling covid 19 products over internet he suddenly Global Sales check out his Instagram think Facebook barred him again.
Last video posted he had finally found what he was searching for, pity about the succers in Wantage 1 he was doing this while scamming them.
His words, think they might have shut him down again, according to him he is still travelling well he is the mighty eagle!!! Chicken, Udo coming soon Kari boy.
Master Distributor and highest known level (“Captain”) of Onecoin, Simon Le, now confirmed to have abandoned the project!!
Source (video, see 5:20): m.facebook.com/story.php?story_fbid=506907919924994&id=101368161418669&_rdr
Wonder if he’ll ever be seen again?
If he’s on lockdown with everyone else, what are the Fed’s waiting for?
Re. the increase to 42.43€: I see elsewhere that OneCoin claim to have mined 87 billion coins so far. That means there’s a total value of about 3.7 trillion euro in circulation, which easily beats Germany’s GDP of about 3.4 trillion.
So OneCoin is now bigger than the world’s fourth largest national economy. They’re only one price increase away from overtaking Japan.
Take that, you haters!
If the original OneCoin concept was — to quote Ruja’s words to Sebastian from June 2014 — “MLM meets bitch of Wall Street”, watching the Thanh Duong’s video made me think that what it all has come to, is “Baghdad Bob meets Jar Jar Binks”. 😉
I thought it was remarkable that of all scammers, it was Simon Le who didn’t quit earlier and was the leading figure who kept the scam alive on life support after the Veselina-Habib incident.
It’s remarkable due to the risks coming from his strong ties to USA and being already implicated (as the “OneCoin Affiliate-1”) in a money laundering sheme in the Konstantin Ignatov Criminal Complaint document.
Right after Mark Scott’s November 21st verdict, Simon dissoveld his OneCoin Inc company registered to his home address (?) in California (businesssearch.sos.ca.gov/CBS/SearchResults?SearchType=NUMBER&SearchCriteria=C3892090), indicating that he was well aware of the legal risks but decided to continue scamming anyway.
Incredible stupidity and greed or perhaps some kind of desperation?
I guess we’ll know more details soon…
FOLLOW UP: Frank Ricketts company IMS found GUILTY of money laundering and operating Ponzi Schemes via Onecoin:
SOURCEhttps://www.ippmedia.com/en/news/17bn-pyramid-scheme-cash-now-confiscated
Thanks for the update Tim.