OneCoin a pyramid scheme in Sweden, reported to police
Earlier this week Sweden’s Gaming Board announced the conclusion of an ongoing investigation into OneCoin.
For those unfamiliar with the regulatory body, Sweden’s Gaming Board are responsible for investigation violations of Sweden’s Lotteries Act.
In an official notice published on the regulator’s Lotteri Inspektionen website, the Swedish Gaming Board have declared OneCoin to be “a chain letter game or similar”.
Chain letter games are more commonly known today as pyramid schemes.
Whether or not the Gaming Board factored in the Ponzi nature of OneCoin is unclear. The Gaming Board found OneCoin affiliate earnings were based on ‘recruiting new participants to increase participants’ profits.‘
The Gaming Board’s findings were first published on the 22nd of January, with an official notice published to Lotteri Inspektionen on January 27th.
As of the 27th the Gaming Board have reported OneCoin to police for organizing a chain letter game, which is a breach of Sweden’s Lotteries Act.
Stay tuned…
Shoutout to the readers who sent in a heads up!
I was waiting for that announcement. Thanks Oz for the update on OneCoin. I expect Sweden will just be the first of many countries who investigate OneCon and find them to be illegal in their method of marketing.
Now, I wonder if there is this “special” pumper across the border who is reading this information and thinking to himself,
“Honey – make sure you pick up some EGGS when you visit the grocery store. It looks like I am going to be WEARING THEM soon. By the way, I am about to become famous, REEEEAAAALLLLLLL famous”.
And it couldn’t happen to a nicer guy. 🙂
HEADLINE seen on some of our favorite ponzi pumper social media pages: “Norway, Sweden and Denmark Say “No” To Cash”
The only problem is…….they also just said NO TO ONECOIN!
I wonder if these obnoxious ponzi promoters will ALSO post the news out of Sweden on their social media sites?
Stay tuned!
Can anyone put it together in one post when and where authorities gave an official info / warning about OneCoin ?
Hungary when ? who ?
Finland when ? who ?
Sweden when ? who ?
who else ?
best would be to have links to official websites of the warning issuer, If you could post it here it would be much appreciated
tnx
lotteriiinspektion go to police 22 of januari in Sweden.
Use Google Translate:
no.wikipedia.org/wiki/OneCoin
Yesterday, Oz posted this update onOneCoin:
“OneCoin a pyramid scheme in Sweden, reported to police”
You would think some of the So-Called Leaders of OneCoin would at least comment on the news, right?
Well, sure….. that is what honest and ethical business professionals would do. But when it comes to our favorite Ponzi Pumpers we have come to learn they are NOT out to help any one except themselves.
Will they decide to “come clean” tomorrow and give their team at least a “heads-up?”
Stay tuned!
One coin has some serious business-model problems in my opinion.
It has no transparency with regards to its owners and actual domicile. It appears to be operated out of Bulgaria, but that could be a flag of convenience.
It’s a hybrid scheme, where one can, for the moment, make money on its gold tokens as they appreciate.
The main income comes from commissions derived from recruiting others into the deal. These are paid on a multi-level basis, so basically it is a program that pays for head-hunting. In other words, a pyramid scheme.
It does not operate with an office in the USA and that’s a red flag too.
ken labine of canada has commented on this report from sweden and behindmlm’s reportage, via another unending video.
he says the swedish gaming board is just a ‘little board’ and not the government of sweden. he says the swedish gaming board is not like the FBI in the USA or something.
besides, the swedish gaming board is supposed to regulate lotteries and gambling, and so ken labine really cant figure why they are investigating onecoin at all, since onecoin just sells ‘education’.
and, the swedish gaming board started and then called off an investigation into lyoness, and so ken labine doesn’t think they amount to much at all.
y’know?
Just clearing about that Finnish investigation a bit.
I havent been very active with multilevel marketing for 10+ years now, but when i was, there was this man in charge in some high place (spot that i have already forgot) which basically decided which multilevel marketings would be investigated and hes view on multilevel marketings were that they are pretty much all scams.
This resulted that whenever some multilevel marketing was becoming popular, this man would put it under investigation and then we could read from newspapers quote from this same man about “company X is clearly a pyramid scheme!”, and usually after couple of months police would come to conclusion that there is nothing wrong with the company.
I dont know if this same man is still in charge in that spot, but all in all, we have a history of multilevel marketing companies that become popular being investigated and investigated by police.
Therefore when OneCoin got investigated by police, it didnt really mean a thing. It didnt mean OneCoin was a scam, nor did it mean it wasnt. It was simply put under preliminary investigation.
On top of that, this preliminary investigation is very light one. It is based upon wether there is something clearly seeable that is against the law.
As example, unlawful marketing text, or rules that are not allowed in Finland.
This investigation did not investigate wether onecoins really exist etc. It was simply a light investigation where accusations are lightly checked out and opinions asked from company, and if companys answers give no reason, they would settle for the answers.
As imaginative example to illustrate: Police: “How do people earn through this” OC: “They get OneCoins”. Police: “What are these OneCoins?” OC: “They are virtual currency we ourselves are making”.
And that would satisfy the police, since there is no reason to go into heavier investigation until someone makes a criminal charge against OneCoins not existing at all for example.
Therefore when Finnish Police stopped investigation of OneCoin, it once again didnt mean OneCoin isnt a scam, nor did it mean it is.
It was simply mostly useless investigation, and was expected to be so right from beginning to those who understood the history of multilevel marketing in Finland.
According to a recent post by Ted Nuyten over at Business for Home, the Top 13 earners with OneCoin earned about $7.5 Million last month.
That’s $90,000,000 per year and growing!!
And, most of them reached this level in less than ONE year.
Who knew there was so much money in selling cryptocurrency training packages?
Sure, seems perfectly reasonable to me. But, of course, the $90 Million Dollar Question is, “Will the REGULATORS buy it?”
Stay tuned!!
How much did the top zeekheads made in that last month? Seem to recall a couple of them claimed to made a million.
Juha Parhiala made 1,4 million last month:
onedream.team/juha-parhiala-hitting-a-worldwide-record-of-1-4-million-a-month
Before anyone asks, if you think the Gaming Board didn’t investigate OneCoin themselves to arrive at the conclusion OneCoin is a “chain letter game”, you’re an idiot.
The word “scam” doesn’t appear in this article, so it’s a red herring defense to make. Indeed the police will further investigate and file criminal charges if need be.
Much of that I suspect will depend on the extent they can go after people locally.
Regarding Ken Labine’s repeated claims he can’t leave comments on here:
Labine doesn’t leave comments, he linkdumps in an attempt to self-publicize his YT channel.
The comments Labine leaves are typically abusive with four to five links to YT videos. The comment text itself does not reply to earlier comments or even the article itself.
I’ve been marking linkdump comments as spam since 2009 and will continue to do so.
I have just commentet Ken’s video no. 5 with following: As you are so proud of your investigation before you comment, – maybe you should look up what Lotteriinspektionen is.
It is an administrative agency under the ministry of Finance. In protection of consumers under the law of gambling the passed their concerns about Onecoin to police to investigate.
They surely want to find out if Onecoin can be seen as a lottery. According to the Lotterilag (The law of Lottery) you can not arrange a lottery in Sweden without permission.
According to §54, 2. is says, that it is ilegal to promote foreign lotteries aiming swedes…… Source sv.wikipedia.org/wiki/Lotteriinspektionen and notisum.se/rnp/sls/lag/19941000.htm
We know what it is. The question is what do you (and maybe, Ken Labine) think it is, and how is that relevant.
From your tone, you seem to think they have no business investigating OneCoin. Would that be accurate assessment of your mindset?
Lotteriinspektionen in Sweden and Lotteritilsynet in Norway have relatively similar functions, so we are familiar with how they work. They handle pyramid scheme cases, both traditional pyramid schemes and product based pyramid schemes. I won’t need to watch videos to know how they work.
European countries don’t have any definitions for Ponzi schemes, so recruitment based investment schemes will usually be handled as pyramid schemes.
There are some differences between Sweden and Norway. Lotteri-inspektionen will need to go through the police to prohibit a company from operating, while Lotteritilsynet can prohibit it directly. None of them will “shut down” companies.
Well, you sure were not clearing anything about the Finnish NBI’s investigation. In fact you use the exact same phrases that are commonly used by all Finnish network-marketing-bullshitters.
One might even come to the conclusion that you have some history in MLM – like Wincapita perhaps? 😉
The danish ombudsman has made this guidance about MLM and pyramid schemes:
forbrugerombudsmanden.dk/~/media/Forbrugerombudsmanden/loveregler/retningslinjer/Vejledning%20om%20Multi%20Level%20Marketing%20pyramidespil%20november%202013.pdf
As Onecoin is selling a worthless product (education packages) at a very high price and then tryes to resell further packages in the prospect of huge earnings that CAN NOT BE PROVEN … they will have a hard time in Denmark.
Further are they misleading the consumers in their marketing in always showing BITCOIN and and and ……
No links oz, i wont post links allow me to defend myself seeing how you love letting your trolls talk about me, i wont post links so you have nothing to whine about… (Ozedit: Offtopic derail attempt removed)
NO LINKS! Now post 🙂
@Ken You’re welcome to address the content of the article. But it wasn’t written about you so tread carefully.
What you mean its not writting about me so tread carefully?
Can you address the fact that what you say is not true, Sweden did not say this as ive made clear…
Why do you still have that very misleading title Oz?
@Ken
Offtopic derail attempts are marked as spam.
The Gaming Board press-release said nothing about scams. The word “scam” neither appeared in this article.
The Gaming Board announced they suspected OneCoin to be a “chain letter game”, which is another term for pyramid scheme. They then forwarded their findings to police.
Police are now investigating, and they will determine where to go from there.
The Gaming Board in Sweden don’t take regulatory action against MLM companies, they only investigate and then, if required, forward their findings to police.
In asking them whether they found OneCoin to be a scam, you presented them with a loaded question. They don’t enforce the Lotteries Act, police do and so determining whether OneCoin is a scam is within the Lotteries Act falls within the police’s jurisdiction.
Playing word game semantics to deny the Gaming Board arrived at the conclusion OneCoin is a chain letter game without investigating is silly. It’s right there in their press-release – if not via an investigation how else do you think they arrived at that conclusion?
A regulatory body in Sweden concluded OneCoin was a chain letter game and forwarded their findings to police. That’s accurately reflected in the title.
Ken Labine is way over his head now. He has drawn a lot of attention to himself as a Major Promoter of OneCoin.
Plus, everyone that follows him on his Facebook page is now in the same boat. Say cheese!!
If/when OneCoin sinks, it will be interesting to see who grabs for the life-preserver (turn state’s evidence) first.
Also, I see some of the USA OneCoin promoters are conducting local meetings in Texas now. Did OneCoin secretly register and open the USA?
Thanks for getting back to me OZ 🙂
Fair enough il behave
Your title is
You say this!
How are these the same things, your saying OneCoin “A” Pyramid Scheme in Sweden…
How is this accuratly reflected when as you also they say it can be, they are not saying it is OZ… There is a difference between IS and can be.. NO?
AND A HUGE DIFFERENCE between a country saying its a prymid scheme or a board suggesting it be looked into, very misleading title come on oz your smarter then that…
(Ozedit: Offtopic derail attempts removed)
O OZ, whats your views on how Lyoness was in same boat by these people and years later they turned out to be wrong (swedish gaming board)
Also whats your views on fact a 6 month investigation by police in finland wrapped up and onecoin still going loud and proud there,
Come on OZ your not smarter then the FBI of Finland are you? (This is serious question, are you?) What do you know they dont?
Hey OZ,
Knowing your all about making sure the right information gets out, i have pasted the actual reply i got from the swedish gaming board above and as you will see, they are not using the same word tracks you are,
AND if you translate what they saying its not what your saying they saying either oz…
So again i ask, why such a misleading title?
(Ozedit: Offtopic comments removed)
@Ken
A regulatory body in Sweden found OneCoin to be a pyramid scheme (chain letter game) and reported their findings to police – that’s reflected in the title.
What are you not getting here?
They weren’t wrong. Swedish police dropped the investigation because they didn’t have anyone to prosecute. Did you even read the decision, or just skim over the headline?
The very fact that police were looking to prosecute someone suggests they’d analzed the AU investment scheme and reached the obvious Ponzi conclusion.
Same story, nobody to go after. They’ve adopted the wait and see approach. Basically OneCoin isn’t being run in their backyard, so they’r waiting for Hong Kong (banking), Thailand (ringleaders) or Bulgarian (management) authorities to step up.
By design on the part of OneCoin, none of these countries have strong histories of Ponzi regulation – so it might be a while yet.
OneCoin were operating in the US, but they ran away.
All that bullshit about SEC registration? All lies. It doesn’t take 6 months+ to file documents with the SEC, it takes all but a few second to upload the required forms to the Edgar database.
OneCoin however know they’d be busted for unregistered securities and have a Ponzi complaint filed if it ever took off. So now instead you have underground US investors participating with offshore addresses, which is effectively contained (most people realize if they have to jump through that many hoops to participate when SEC registration is straight-forward and easy that something is suss).
OneCoin’s business model is not a mystery.
Under the guise of operating a cryptocurrency, OneCoin affiliates invest in OneCoin points. These points are converted to cash, through OneCoin, with cash sourced from newly invested affiliate funds.
That’s a Ponzi scheme.
You can argue strawman semantics all you want.
The Gaming Board press-release refers to OneCoin as a “chain letter game”, otherwise known as a pyramid scheme.
The article uses the same verbiage, with neither the press-release or the BehindMLM article containing the word “scam”.
The matter is in the hands of police, with the Gaming Board have clearly explained the result of their investigation (that OneCoin is a suspected chain letter game). I’ve bolded the part in the Gaming Board’s reply to your email which clearly explains as such.
If you ask them if they investigated anything outside of what they stated in their press-release, of course they’ll tell you they didn’t. It’s not rocket science Ken.
You say there saying…
Im not getting why your saying its announed they are a schemee when they are saying (as you so nice enough to bold)
As for Lyoness, that is not true either OZ, re read yourself, they dropped the investigation, and how about how in Norway they gave green light,,
And your comment to our finland no one to go after, Im sorry but we all know Dr Ruja is our founder and if they wanted or had any reason to go after her they would…
Why the not stop the sales then OZ, why in Finland can people still LEGALLY sign up after the investigation wrapped up oz?
AND NO you dont understand how it works, I have not invested in onecoin points as you put it, I did not pay for my tokens or my coins i got them with my education package that i bought…
and again you say (its like if you repeat yourself your sheeple will follow better)
BUT no you say
BUT as i pointed out this is not what they are saying they suspect and they asked sweden police to look in…
Your headline should be OneCoin being investigated in onecoin to see if prymid scheme update to come,
NOT declaring it is already been called one, being suspected and being called one different things…
(Ozedit: Offtopic derail attempts removed)
ps. Why you not highlight this sentence above…
You higlight your side, make sure you highlight my side too 🙂
Fair is fair oz, if your gonna alter what i type atleast be fair 🙂
The Swedish Gaming Board put out a press-release stating as much, that their conclusion is OneCoin is a chain-letter game.
They don’t prosecute however, so the matter has been referred to police. It’s right there in their press-release, anything else is pointless semantics.
Sorry what? A regulatory body in Norway gave OneCoin a “green light”? When did that happen?
It is true and I suggest you read why they dropped the investigation.
And is not based in Finland. Nor do OneCoin do banking in Finland.
And it wasn’t my comment, it was the formal reason the investigation was dropped cited in the Gaming Board’s appeal.
Because, like I said, OneCoin have no formal business operations in Finland. There’s nothing to shut down. The Gaming Board concluded it was a pyramid scheme, police concluded the same but there’s nobody to prosecute there.
It’s effectively a dead-end as far as Finnish authorities are concerned. Unfortunately not every country vigorously prosecutes offshore schemes to the extent we’re used to in the western world.
They concluded OneCoin was a pyramid scheme after an investigation. They can’t certify it as such because they aren’t an enforcement agency (at least not when it comes to MLM). So now it’s in the hands of police.
That however doesn’t change the fact they investigated and found OneCoin’s business model to be that of a pyramid scheme.
I invest money into OneCoin points. What is bundled with these investments (ebooks, eggshells, Ruja Ignatova’s belly flint etc), is irrelevant.
If I request a withdrawal OneCoin pay me with subsequently invested affiliate funds – based on how much I invested and/or the recruitment of new investors.
That’s OneCoin’s business model and it’s a Ponzi scheme.
Seriously? I’ve addressed this multiple times in the previous comments.
The Gaming Board investigated OneCoin’s business model and found it to be a pyramid scheme. They forwarded their findings to police, who will further investigate and determine whether or not people need to be charged with running a scam as per the Swedish Lottery Act.
The Gaming Board aren’t an enforcement agency (with respect to MLM), so they weren’t specifically investigating whether OneCoin was a scam or not.
You asked them a loaded question and got an answer. What the Gaming Board found is clearly detailed in their press-release.
It seems Ken’s basing his responses on what he wrote (himself) rather than what you wrote, Oz.
You say –
They don’t prosecute however, so the matter has been referred to police. It’s right there in their press-release, anything else is pointless semantics.
You quote me –
Then Follow with –
REMINDER OF FULL SENTENCE!!!
As for Lyoness, that is not true either OZ, re read yourself, they dropped the investigation, and how about how in Norway they gave green light,
But just another example how you twist words to your blogs convenience 🙂 (Besides im referring to your blog on Norway giving green light to Lyoness) lol
You Say –
I say – How about you go look at your own blog about how Norway gave it green light Country says yes, this same board said no… I ASK YOU… Who do you trust more?
You Say –
And it wasn’t my comment, it was the formal reason the investigation was dropped cited in the Gaming Board’s appeal.
I say – COME ON OZ, Really, again il say your smarter then this… YOU KNOW! If Finland did not want onecoin there onecoin would not be there… Finland was the top non asian country for much of the time within onecoin this why Finland had that extra attention so soon, AND when that investigation concluded and my founder was not in cuffs none of you bloggers have more weight to me then the NDI of Finland.. (FBI to an American)
(Ozedit: Offtopic derail attempts removed)
NO this was not a gaming boards appeal, Swedish gaming board the one your making sound like the Swedish government is a gaming board, and back here this is the NDI of Finland… BUT even in one of your blogs you say this yourself (THIS IS NOT EXACT QUOTE) but to the effect.
They couldn’t get information from onecoin and this is why Dr Ruja not in cuffs lmao aih ya funny 6 month investigation but yeah they couldn’t get information.. o yeah and like ive mention still people can sign up loud and proud in Finland… O but you say it’s a gaming board now lol aih ya!
I said – Why the not stop the sales then OZ, why in Finland can people still LEGALLY sign up after the investigation wrapped up oz?
You Said –
I reply – No formal business operations in Finland lol aih ya, you know how many people started there businesses in Finland, how many people have been educated and choose to share that education and this opportunity with others… Starting businesses, as I have in Canada, ANSWER thousands… to say there no business in finland aih ya.
Oz I feel like doing a video just to show your lack of knowledge within the real onecoin and not the version you’ve created… again you down play the NDI for gaming board lmao aih ya.. (as I comment about how you make this Swedish gaming board sound like its SWEDEN.)
So your justification to a lot of things is “police concluded the “same” but theres nobody to prosecute there.” SO oz I ask, How can so many people you say are committing crimes keep not being “there”, you know why, because its not that the people arnt there its that your accusations are not true and after a investigation the investigators probably get her education package… If you think there is not Lawyers, Doctors, Teachers, Police, already within onecoin your nuts…
AND YOU SAY… It’s effectively a dead-end. Unfortunately not every country vigorously prosecutes offshore schemes to the extent we’re used to in the western world. … well I ask this OZ, and I already know your answer is gonna be some take years blah blah blah… BUT I ask, has anyone prosecute anyone cause of onecoin, Has Dr Ruja had cuffs on that I did not know about?
From what I know this is a Powerful lady who has already made a huge change in many peoples lives even with all the HATERS! BUT when you do over a billion in business gain 1.3 million members mine over 25% of a new currency (Come on, even think about the CFTC think of there name alone… Commodity FUTURE Trading Commision) (Ozedit: Offtopic derail attempts removed)
BUT as i pointed out this is not what they are saying they “suspect” and they asked sweden police to look in… BUT how onecoin is relatable to a Lottery im still lost…
You Say –
I say – Again OZ il remind you of the actual EMAIL I got from them, not just you saying what they are saying!
I have no clue why we would be considered a lottery… Do you?
BUT then they say…
Then say…
They then go on to share there “opinion” which they are fair too and I have no issues with this Swedish investigation, contrary to what all you schmucks say I don’t want to be promoting a scam but its gonna take a legal authority to say onecoin a scam before I entertain idea your “opinion” is correct…
ANYWAY ends the email with
BUT again you go say….
I say – Saying that’s what they are saying it is… and what they are actually saying is very misleading…
EVEN IN THE EMAIL I RESEARCHED (why do you not do this prior to your blogs, you know actually research?) They use the word… Possible is not even probable (My kids know if I say its possible or its probable there is a huge difference… No?) see words like this in the email I watch for Oz im smart like that, hence how I catch you with your word tricks as ive shown above too…
You say – So again i ask, why such a misleading title?
I say – I hope my answer above suffices 🙂 and you know me its recorded and now that I see you twist my words above il be extra on the ball for recording my statements I make here 🙂
(Ozedit: Offtopic derail attempts removed)
Education package you say?
– Could you please tell everyone how much education you have got from Onecoin. (I guess you are tycoon, level 5)
– Is this education worth this money?
– Who has made this education??
– Where is level 6. Why buy education for more that 5000€ if there is no education available at that level.
– If a person does not like the quality of the education, and doesn’t care about any free tokens, what can he do? Any refunds?
@ K Chang
Ken’s lame responses are motivated by an emotion called FEAR. He fully understands that if what Oz is saying turns out to be correct, Ken AND his followers could be found guilty of promoting an illegal pyramid scheme and will probably learn first-hand the meaning of Claw Back Hell, IMO.
Plus, Oz has proven his points that the Swedish Gaming Board HAS investigated OneCoin and found them to be a pyramid scheme. Why is this important?
If Ken and his followers continue to bring in additional investors to OneCoin after today, they do so KNOWING and fully UNDERSTANDING the pyramid ruling by the Swedish Gaming Board.
They cannot use the “we thought it was perfectly legal” defense as of TODAY.
Stay tuned!!
@Ken
1. The Swedish Gaming Board is part of the Swedish government, they’re a national regulator (I honestly can’t believe I have to explain this).
2. You’re mixing in Lyoness with OneCoin and failed to mention so, hence the confusion.
I’ll make this easy for you: Lyoness has nothing to do with OneCoin, so to avoid any further confusion I’ll mark any discussion of Lyoness here as offtopic.
If you do want to read about the Norwegian decision, you’re welcome to read about it here – https://behindmlm.com/companies/lyoness/confirmed-gaming-board-failed-to-properly-investigate-lyoness/
You’ll note that they did indeed find Lyoness guilty of operating a pyramid scheme prior to Lyconet, however the overall decision makes little sense. If you want to follow up on that decision, feel free to comment on that article – this one isn’t about Lyoness.
OneCoin are under no obligation to cooperate with authorities in countries they don’t operate in. Furthermore authorities in one country are going to run into problems accessing bank records in another country, which from memory is what that quote was referring to.
OneCoin bank in Hong Kong for a reason, those guys don’t play ball with foreign regulators unless they are dragged through court. The Zeek Receiver has detailed as much in his Status Reports, as he had/is having trouble recovering Ponzi funds deposited into a HSBC Hong Kong account.
In a broader sense Asian Ponzi regulation is a good few decades behind the rest of the world, with more than a few of today’s prominent Ponzi schemes exploiting that.
There’s nothing to shut down in Finland, so police have adopted a wait and see approach. You can’t remove an entity from a country that doesn’t formally operate there.
Most of the top OneCoin hierarchy are hiding out in Asia, again to exploit the lack of Ponzi regulation there. OneCoin’s financial activities in Finland are likely minimal, with investment transfers taking place offshore.
You’re not seriously going to pull the “we haven’t been shut down so we’re not a Ponzi scheme” argument, are you?
OneCoin is a Ponzi scheme because it uses newly invested funds to pay off existing investors, based on how much they invested and/or the recruitment of new investors. That they’ve haven’t been shut down is neither here nor there.
Zeek Rewards was a Ponzi scheme before it was shut down. TelexFree was also a Ponzi scheme before it was shut down.
And what do you think this legal authority is going to base its findings on?
They’re going to do what any normal person does, follow the money.
Which means they’re going to see OneCoin accepts investments from affiliates and pays existing affiliates with newly invested funds – making it a Ponzi scheme.
Regarding the word “lottery”, several European countries govern pyramid schemes through what they’ve named Lotteries Acts. I wouldn’t read too much into the literal meaning of the word.
The press-release states they found OneCoin to be a pyramid scheme and forwarded their findings to police.
Your email response is irrelevant, in that neither the Gaming Board’s press-release nor this BehindMLM article mentioned the word “scam”.
FWIW, Labine is getting abusive again, going wildly offtopic and has broken out capslock. I’ve had to mark his last three or four replies after #37 (mostly deriding other readers) as spam.
For whatever reason and despite repeated assurances to the contrary, Labine seems incapable of participating in a mutually-respectful civil conversation.
The stories about fat wages at onecoin are bluffs. To maintain the wage, they have to keep selling packages every week.
For example. Juha Parhiala is making 4M$ monthly that’s 1M/week. How is that possible in onecoin?
To get that money he needs a lot of accounts “maxing out”. The biggest package.. ELITE (100.000€) can give you a max salary of 30.000€ + 20.000€ in tokens. So 1.000.000$ is about 30 ELITE package maxing out.
To max out a single Elite is possible…maybe 4. but 30? No way…and the try to maintain the same amount week after week..not possible. The salary is a big joke, and every serious seller in Onecoin knows that.
It’d be funny, Oz, if you just ########### out all his bad words, then ######## out all the off topic stuff, it’d show the world what he really is. For just one post. 😀
I don’t have time for it man. His comments are like his videos, all over the place and difficult to comprehend.
I’m not trying to be mean or cruel, but I don’t think literacy is Labine’s strong point.
What is bizarre is how OneCoiners are constantly preaching how the dollar is worthless & how OneCoin is the future, but they constantly compare how much the coin is worth in dollars & they can’t wait to cash out the cashe of OneCoins for millions in worthless dollars?
No one ever said ponzi and pyramid scammers and schemers were the sharpest crayons in the box.
According to Master Salesman Juha, when they reach 30% of coins minded there are already 200,000 retailers already on board and ready to accept onecoin.
That figure is to be reached in approx. 2 weeks, so of there are no retailers accepting OneCoin by month’s end…. They will have to admit it all just lies, or make more lies to cover this lie.
Pity, I enjoyed reading Ken’s posts as a perfect reflection of his broken way of thinking. The unclear thinking makes him believe in the fata morgana ideas…
now that labine’s arguments have been properly pulverized by oz, he’s running around apologizing for ‘wasting time’ with trolls and haters.
run for now labine, but do come back in april 2016 with the list of the 150,000 merchants who, according to your ‘challenge’, will be accepting onecoin by that date.
Maybe Ken or another OneCoin expert can answer this simple question?
The way to raise the value of OneCoin is to get it accepted & start using it, so others want it. They were constantly preaching this.) although there is no where to use them )…. But now why are they promoting “CoinSafe” and asking people to keep them tied up for 2 years??
How in the world does this do anything to raise the value of the fake onecoin?
Wouldn’t this also consider them an investment and make it much hard in the USA because of the securities & exchange comission?
“Delay the day of reckoning”.
If the owners are not able to withdrawn, it gave the perps that much time to raise the funds. It’s the same as in HYIPs limiting payout/forced reinvestment, like “you can only take out X%” but with a different excuse.
@Onecapita and @Ken Labine
I wasnt involved with Wincapita, but I also didnt pay much attention to it until it became headlines.
But let me repeat what i said with different words since I think you (Onecapita) misunderstood what i said, and since Ken Labine probably didnt read my message.
That OneCoin got investigated by Finnish police in way it did, did not mean it is a Scam.
That they dropped the investigation, does not mean that it would not be a Scam.
What I said was that the investigation was pretty useless investigation since it was too light type of investigation. It also does not mean that they could not make another, heavier investigation in future.
But due to how Finnish laws and police work, it requires that there first comes some clear reason for them to investigate further, as example, someone reports them in by claiming it is a scam because they have not got paid what they should have.
And as OZ have pointed out, to my understanding he is basically right when he says that OneCoin doesnt formally have any operations in Finland. Even the head OneCoin Marketer, Tommi Vuorinen says in meetings he holds (or at least on ones i have heard) that he is not officially OneCoin companys representative, but only multilevel marketer.
You can think this situation to be in some way similar to situation where I would start holding meetings to sell microsoft products.
If I at beginning say “I am not officially Microsoft employee, I am just promoting their products as a private citizen”, then that doesnt really give police a reason to start investigating if Microsoft is doing something wrong, they can only look if I am doing something wrong, or they can look through the claims that Microsoft might be claiming about their products in brochures that i might have with me from them.
However, this isnt exactly same situation, since ML Marketers do have some sort of contract with the company they promote. But I am not sure how does Finnish laws think about ML Marketers under the eyes of law.
Regardless, Finnish laws pretty much go from idea that if there is no (possible) victim reporting about a crime, or otherwise clear evidence of a crime (as example, eye witness reporting about something) then they dont investigate it further.
It was perhaps somewhat more thorough investigation than usually in these kinds, but investigation means were still very light ones and such that when you hit a paper wall, you dont have scissors to cut it. And that is exactly why it doesnt mean that Police showed green light to OneCoin.
here are some quote from what they reported in newspaper about ending the investigation. Translation done by me, hence it might not be most accurate, but you should get the idea anyway:
“Finnish National Bureau of Investigations (NBI) doesnt start preliminary investigation about OneCoin-virtual currency.
according to NBI, virtual currency related crime can not be examined trustfully until probably end part of next year, when bulgarian company that created the currency have promised to release the source code for their virtual currency.
…
NBI also says in its information, that when acquiring products like Onecoin, you should be extra careful, since there are lots of hard to predict financial and legal risks. In addition, Onecoins yield of investment expectations seem unrealistic”
Does that look like Finnish NBI giving green light to OneCoin?
But neither does it mean that OneCoin is a scam. It simply says that OneCoin is not proven to be fraud, but that it is not off the hook either.
Boys, I understand your confusion yet you really have not studied OneCoin properly. So he goes…
OneCoin is a crypto-currency (Ozedit: cryptocurrencies can be bought and sold by the general public. OneCoin are Ponzi points traded internally, as per their compensation plan. Offtopic waffle removed.)
Oh goodie.
So, how many OneCoins should I transfer to my local coffeeshop for a double espresso ???
It’s far more likely you haven’t studied OneCoin properly and is merely regurgitating marketing material that cannot be verified, much less compared with real cryptocurrencies, and of which, only a handful are actually viable, none of which are investment grade instruments.
from a more psychological Point of viw one can say that a good investment does not have to organize meetings creating such hysteria amongst most attendents. The ame kind of meetings that Hitler organized to get people doing what he wished 🙁
On March 13 there will be an event in Sweden. A special guest will come, today OC announces who that guest is.
It is expected to be Ruja, let’s see if she visits Sweden now that these investigations are taking place:-)
Ruja won’t come to Sweden in March 😉
An Edward Ludbrook will come. Maybe he can borrow one of Ruja’s beautiful evening dresses and become as good looking as she is (of other people’s poney)? 😉 😉
I understand their report with one exception. OneCoin is selling educational materials, if you want to make money from recruiting its optional.
So for me there is no recruiting, I just make money from its price increases, over 400% in 11 months and climbing. I’ve already doubled my initial payment and pulled out the money, and its still climbing higher and higher.
I question who these “authorities” are deciding its a pyramid. You know what they say, “Question Authority”.
BTW, this site is a result of intel gathered by govt sources and poised as independent research. Nevertheless, thanks for helping us understand how the status quo of directing our misinformation works guys…good job.
Right, so you didn’t get any Ponzi points with your purchase then?
And after April 1st, how is the value of said education, which is what now, almost two years old, magically increasing in cost by 10%?
Also what education do I get with the 25,000 EUR package? Y’know, to reflect the amount I’m investing.
That money, it came from subsequently recruited investors. Whether you personally recruited them is irrelevant, the funds you were paid were sourced from participants who joined after you.
Commissions in OneCoin are thus based on the constant recruitment of new affiliates, making it a Ponzi/pyramid hybrid.
So much for education packages…
Investors from TelexFree, Zeek Rewards and hundreds of other collapsed Ponzi schemes would like a word…
Amazing how the thread seems to have moved now to Educational packages which is what you get initially for your investment = these subsequently morph into tokens and coins with all the resultant jargon.
It is a pyramid scheme but will not be classified as illegal until it is actually investigated. Even the President of Bulgaria has recommended to keep out of it (well his personal assistant anyway).
The investment books can be purchased for about 5 dollars and go back to the 1920s. Ludbrooke has been recruited to sort out the training and not really impressed as he tends to call participants at the Swedish Seminar idiots which is not really how to sell books is it?
Google Hitler and OneCoin for a great video and black humour can hold a lot of truth and will at reduce anxiety for those who have invested big time
You might be interested: mrpoth.tumblr.com/post/145011384021/technical-proof-why-onecoin-is-a-scam
@Poth
Thanks for forwarding that, I’ve also received the same link via email from multiple readers.
Will go over it tomorrow, was out all day and I’m pretty tired!
edit: No sleep for me, got some TF news to cover…
edit2: Actually sleep time for me. I’m having trouble focusing on the legal docs. One Zeek Rewards and one TF article tomorrow, as well as the blockchain article if the content is relevant enough.
…and this weekend they have their biggest Master Training ever in Gothenburg Sweden… how t-does this adds up.
Can’t believe nobody will interfere when a governmental organization already declared them illegal.
@Dan – I agree. It will be interesting to see if there is any intervention, being that some of the Top Global OneCULT Schemers, like Ken Labile, Tom McMoron, Doo Doo Dipshit, CEO Pablo Mentiroso and many other Lie-Men’s will be present.