Fred Fok fined $71,700 for promoting OneCoin in Singapore

Jul.03, 2020 in OneCoin, regulation

Fok Fook Seng, better known as Fred Fok, has been fined $71,000 for promoting the OneCoin Ponzi scheme in Singapore.

Fok (right) was charged with promoting OneCoin between January 2016 and June 2017. He was convicted earlier this week.

Fok promoted OneCoin through his Facebook group OneLife One World Team Singapore.

Police state that as of June 2017, Fok had 1180 Singapore residents in his OneCoin downline.

OneCoin marketing credits Fok as a OneLife “Asia Pacific and GLG Inner Circle Leader”. He continued to promote the Ponzi scheme until May 2020.

Singapore’s government issued a OneCoin Ponzi warning back in May 2018. In April 2019 Singapore authorities made two arrests.

I believe Fok was one of those arrests. Channel News Asia report;

Another man who was promoting the scheme has also been charged with the same offence.

He faces an additional charge for incorporating a company to promote the multi-level marketing scheme.

Court proceedings for that case are ongoing.

Pending the outcome of that case, stay tuned…

Update 22nd January 2021 – Fred Fok’s accomplice, Terence Lim, has been sentenced to six months in prison.

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8 Comments on “Fred Fok fined $71,700 for promoting OneCoin in Singapore”

Sebastian S

Jul 3rd, 2020 at 4:58 pm (Q)

The other man charged is the current China DealShaker Country Manager Lim Yoong Fook, better known as Terence Lim, Blue Diamond OneLife leader from Singapore.

He hasn’t pleaded guilty unlike Fred Fok, so Lim faces potentially a prison sentence because he has the same + additional charges.

If Terence Lim’s fine is more than S$150k, his sentence will include also prison time. His case is in the court on 21-23 July.

U-No

Jul 4th, 2020 at 10:26 am (Q)

I guess we can say “He Fokked up”.

Lynndel "Lynn" Edgington

Jul 4th, 2020 at 3:19 pm (Q)

My only question is when is Fred going to announce he has left OC like all the others?

I don’t get the impression that Fred is going to try to start his own crypto-currency program, or join another one like all the other former OC major promoters have done. I hope he has learned his lesson, but time will tell if he has or not

Actually I am surprised that he hasn’t done it already. I expected him to do it in mid-June when he wasn’t as active as before at events and promoting. This conviction would give him a good reason to resign.