Norwegian regulator seeks permission to attend OneCoin event
Regulatory concerns about OneCoin are heating up in Norway, with news that the country’s top regulator has asked to attend a recruitment event this Saturday.
Norwegian banks have also started blocking investment into OneCoin.
OneCoin is currently scheduled to host its first event in Norway this Saturday.
The event will take place in Gardermoen, with OneCoin promising those who attend will get “confidence, knowledge and recognition”.
Tickets are €29 EUR to listen to five Swedish and one Norwegian affiliate drone on for six hours. VIP tickets that include lunch and dinner are €139 EUR.
The stated aim of the event is to “make Norway a prominent country in OneLife”.
The Norwegian Gaming Board is the company’s top MLM regulator.
Last April the Gaming Board sent OneCoin a letter to remind them of Norway’s regulations concerning pyramid schemes.
As of October, 2016, the Gaming Board had received no reply from the company.
Now in what appears to be an escalation of the Gaming Board’s investigation, the regulator has sent another letter to the company.
In the letter the Gaming Board advises OneCoin it has and continues to receive
a relatively large number of inquiries in the form of tips and questions from private individuals, other government agencies and the media.
The Gaming Board also included information about Section 16 of Norway’s Lottery Act, which regulates “pyramid schemes and pyramid-like sales system”.
Perhaps the most significant aspect of the letter however is the Gaming Board request for permission to attend the Gardermoen event.
We want to be present at the event (held) by senior (affiliate) Steinar Mjøs and senior (affiliates) Silje Sægrov Amble and (wish to) sit as spectators (to see) for ourselves to see how the business is marketed in Norway.
Norwegian media outlet Aftenposten contacted the Gaming Board upon learning of the request. As of February 21st, the Gaming Board reported it had not received a reply to its request.
It is unclear whether Gaming Board investigators will attend the meeting if OneCoin does not respond by Saturday.
In related news, Norwegian banks have begun cancelling transactions by customers for the purpose of OneCoin investment.
A representative from the Gaming Board claims that
several Norwegian banks have been in touch … with questions about (whether OneCoin) is legitimate.
Some have stated that either on their own initiative or due to regulatory guidelines they have or will soon block payments to OneLife and OneCoin from Norwegians.
An employee of Sparebanken Vest, the third largest bank in Norway, told Aftenposten that after consulting the Gaming Board and Financial Supervisory Authority about the legality of OneCoin, the bank began blocking transfers related to OneCoin.
The decision for this is twofold; The uncertainty associated with the so-called currency’s legitimacy and the bank’s reputation.
We equate OneCoin with cases of other similar pyramid schemes.
Other banks confirmed they too had blocked OneCoin transactions and had been in contact with the Gaming Board. At least three banks are waiting on a regulatory decision.
Aftenposten tried to contact OneLife and OneCoin, affiliates organizing the Saturday event and the company’s Norwegian lawyers. None of them responded.
BehindMLM’s 2014 review of OneCoin identified the company has no retailable products or services, with all commissions paid on the recruitment of new investors.
More proof that Onecoin blockchain is fake.
Video proof showing that member transaction doesn’t appear in the Onecoin “blockchain”.
Video Proof: Onecoin Transactions are NOT recorded in the blockchain
Previously Ruja has claimed that it is possible to check member transactions from the blockchain.
Video: Ruja lies that you can check transactions from Onecoin blockchain
why would they tip their hand instead of just going?
@Whip – probably because a 6 hour recruitment event would turn into a comedy show if OneCULT leaders had to skirt around any and all “investment” simulation for half a day.
Could pretty much guarantee by hour #3 the room would empty itself and leaders would be onstage preaching to ghosts.
Scandinavian politeness?
I’m sure that, at the last minute, the scammers will change the location. Or, do something to dodge scrutiny.
Slippery weasels.
Why go at all.They have all the evidence they can get.
Start acting instead, as fast as they can against this Scam. Not a minute to lose.
OneCoin themselves haven’t responded to the Gaming Board’s requests. I think if they attend they’ll likely observe and add evidence to what is likely a mostly completed report.
In past pyramid scheme cases the Gaming Board hand down a decision after publishing a lengthy report (in Norwegian) explaining the decision. They typically cover all their bases before going ahead with anything.
It’s slow and at times frustrating, but it’s what they did with World Ventures and Lyoness (even though they botched the latter).
Still better than Sweden, who have basically gone
“Yes it’s a Ponzi scheme, we know and we’re just going to continue to publish warnings on our website.
50,000 Swedish investors? Bulgaria? Not our problem.”
We have combined the great YouTube video made by WhistleBlowerFin with some screenshots and text in a new article: Analysis of OneCoin blockchain – Part 9 – Transfer of OneCoins to downline IMA – Video
onecoinonelifefacts.blogspot.bg/2017/02/analysis-of-onecoin-blockchain-part-9.html
Conclusions:
Wtf is a block chain ???????
Typically Swedish…Damned shame.Heres the new article about OC in the sw. Svd. Green! Well, the Coiners are gonna lose (lost) their money anyhow.
I start attacing the Government right now…
svd.se/norsk-bank-stoppar-onecoin-men-fritt-fram-i-sverige/om/virtuella-valutor
The regulators can’t afford the ticket. The answer to your question could be as simple as the regulators aren’t allowed to pay a thing to criminals, not even if it would help them gathering information.
Norwegian blockchain specialist Bjorn Bjercke commented in a LinkedIn discussion:
Ari Widell contacted Bjorn Bjercke and asked more details from Bjorn in his latest artice: OneCoin was trying to recruit a blockchain specialist last year
If they had a blockchain would it matter? Like they still double the coin, lie, and you can’t actually do anything with your coins! But that tall currency you wasted can, you know, pay your rent.
They can’t just turn up without a ticket. Not even the police would be able to do that – they’d need a warrant. And the gambling regulator has less power than the police.
As to why they don’t simply buy a ticket, OneCapita provides one plausible reason why they might not want to do that.
Another reason might be that there are umpteen forms to fill out before you can spend taxpayers’ money on conference tickets – with good reason. “Norwegian regulators spend up to €139 EUR to be wined and dined by pyramid scheme” is not a headline they want to see.
There is little the regulator is going to learn by attending the event anyway. Whatever they learn there could be learned by reading the article in the Mirror or other reports on OneCoin conferences.
An email to OneCoin which OneCoin refuses to reply to says enough by itself, and saves €29 of the Norwegian taxpayer’s money from being funneled to OneCoin.
LOL, that the company recruiting for OneScam said Mr. Bjorn Bjercke would get 2.5 million USD for building them a blockchain!
They would have either tried to pay him in worthless onecoin or just kept saying: “We will pay you when the 10,000 merchants have signed on”. Don’t hold your breath!
Smart man, to turn them down.
@John Doh
1.) it 100% PROVES the company STARTED AS AN INTENTIONED PONZI!!! This is EXPLOSIVE INFORMATION FOR REGULATORS AND AUTHORITIES TRACKING THEM!
2.) It 100% PROVES that there is no “mining” taking place and never was, AND THERE IS NO MASSIVE SERVERS, as Dr. Scrud’ja has many times claimed.
It PROVES she didn’t create ANYTHING and that she is the Founder of nothing more than #vaporware pseudo-cryptocurrency scam tied to an MLM ponzi idea, which all of her co-conspirators/ associates are professionals and trained con-artists in previously pulling off
3.) it also 100% PROVES that Onecoin KNOWS they’re in a heap of shit and that the scam grew MANY TIMES BIGGER than they had any way of anticipating, and that they have attempted to fix the unfixable in their stupid scamming naivety by mixing ponzi with a technology they never had a clue about.
They have desperately tried to mitigate an unfixable problem, which started in January 2015 when they began exchanging ponzi tokens for ponzi point coins (I believe that the recruitment inquiry likely went out just before the London Event, CoinRush; with them dissecting that if they “threw money at it,” by the time of the Criminal Mastermind Event in Bangkok on October 1st, that they could *simply “turn off” the old blockchain, transfer the database script to the new blockchain (Lol!!!) and “switch it on.”
3.) it 100% PROVES that Ruja Iguanatova and her lizard army don’t understand even the fundamental basics about cryptocurrency OR blockchain technology, and that there is NO NEED to run am Excel-type script in a SQL database environment on anything other than Ruja’s laptop (and maybe a couple backup servers due to storage); AS ALWAYS SUSPECTED!
4.) Lastly, it finally 100% PROVES that the situation is UNRECOVERABLE and that now they have simply resorted to playing carnival games with spinning wheels, doubling coins multiple times, splitting and “super-splitting” ponzi tokens in spreadsheet columns and rows.
5.) BONUS Analogy: it’s why the “practice Exchange” was closed and why #DealShitter has effectively shifted the Symantecs of the game into OneCOUPONzi.
IMHO, I believe this gives Authorities and Regulators the fuel needed to really REALLY attack now, and to ALSO truly, once-and-for-all rip the classification of the scam apart from anything having to ever having done with “cryptocurrency” – which was/ IS the mission and goal of all cryptocurrency advocates battling against it for the past 2+ years 🙂
Unfortunately, most OneCULTists are so stupid even as these facts become more engraved in stone, they’ll still believe that by magic everyone will become millionaires!!!
What OneCULTists now need to understand and LET SINK IN is that NONE OF THEM were “miners” as they do like to brag. And they never will be. At least in Onecoin.
What we really should now think is what did OneCoin leadership see worth $2.5M in having their own blockchain? Clearly they had decided that a blockchain would be worth that much but how?
Exit plan? Or safety measure for the future?
Has anyone here read the utter nonsense that Ken Labine posts re OC on Facebook?
I remain confused as to whether he is a serious scammer or mentally retarded. Could he be both ?
@Otto: Two possible explanations: 1) Ty’s, that they’d have promised $2.5m but never paid it, or paid him in Ponzi points.
Or 2), they’ve got $2.5m to spare, and if having something that looked like an actual blockchain kept the scam going a bit longer, they could easily have recouped that.
Isn’t OneCoin meant to have 3 million members? If they’ve each been taken for $100 on average then $2.5m is small change.
I lean towards 1) myself. These people have no real concept of the value of money, it’s why they’re Ponzi scammers. They live in a world when you can just say “We’ll pay you $250” or “We’ll pay you $2.5m” or “We’ll pay you $25m” and it’s all the same, it’s just magic numbers.
@Myalterego: Serious scammer posing as mentally retarded. Like all Ponzi scammers and wannabe-scammers.
A great man once said “If you believe it, it’s true”. Labine is preparing his excuse/defence for the inevitable fall.
Anyone know if Saturday event took place? Or if regulators were there?
I totally got scammed by onecoin. I bought the starter package. I hate those lying b* ruja, munoz, and my f* sponsor.
How exactly did you get scammed?
Have you reported OC to your local regulator/police?
You got scammed because you are greedy and you did not do your research. Simple as that.
Heres One Life Newsletter for the greedy ones
us9.campaign-archive2.com/?u=cf9659fd672fe664d487e7e1b&id=ddeb2a5373&e=a0e0b3336a
@Vic – if it wasn’t at least slightly clever or wouldn’t be successful.
Torn over the info of your upline, including all contact details and emails and other promotional material. Especially the stiff which clarifies that it’s not an investment or opportunity of a lifetime; only educating that you paid for 😉