OneCoin lose last bank account, unable to accept wires
Unable to use its own company name, OneCoin had been opening up banks with shell company accounts every few weeks.
As fast as OneCoin could open up the accounts, it didn’t take long for them to trip money laundering filters and be shut down for fraud.
Here at BehindMLM we’ve been tracking these account closures for some time. Over the last few months OneCoin’s accounts have been shut down with increasing frequency.
New OneCoin accounts opened up in October and November have lasted only days before it was shut down.
Throughout most of this OneCoin has always been able to fall back on its Bank of Africa account. Held in Tanzania, the account remained open despite over a dozen closures in different countries.
Today Bank of Africa finally took action and shut down OneCoin’s account.
As it stands, OneCoin cannot accept bank wires from new and existing affiliates.
In a newsletter sent out earlier today, OneCoin brushed off being unable to open a bank account due to financial fraud as a “development”.
The company advised that the only way affiliates can invest in OneCoin is to send money to the affiliate trying to recruit them.
As a next step in our development, OneLife will become closer to its members.
From today on, you will be only able to buy OneLife product gift codes from official OneLife distributors (of course, you can continue using the shop for your cash accounts and OneCoin accounts).
What the closure of OneCoin’s bank accounts will mean for the Ponzi scheme going forward is unclear. Bitcoin is still an option but it is understood that bank wires formed the bulk of new investment entering OneCoin.
Another point to consider is affiliate withdrawals. With most withdrawal requests denied or perpetually marked pending, what OneCoin’s bank account closures will mean for affiliates desperate to withdraw funds is unclear.
Ditto whether the company will be able to pay recruitment commissions.
OneCoin management meanwhile are in panic mode, with Stephan Steinkeller revealing an emergency meeting in Bulgaria to address the situation.
Please from now on out no more transfers, not even on the branch in Africa!!
Hello, everyone. Today some of us are in Sofia for solutions. For all of us!
Steinkeller promises affiliates will receive “good news” by the end of the week.
Newly appointed OneCoin CEO Pablo Munoz hasn’t been seen or heard from in public since his appointment in October.
In related news Ted Nuyten and Business For Home have ramped up their promotion of OneCoin.
The latest sees Nuyten appear in a OneLife branded video to interview Andreea Cimbala.
Cimbala and her husband, Igor Alberts, are top OneCoin investors. Earlier this year in May, Ted Nuyten wrote an article claiming Cimbala and Alberts were stealing $420,000 a month from OneCoin investors.
A few months ago in July, Igor Alberts was in Japan marketing OneCoin as an investment opportunity.
Last year BehindMLM revealed BusinessForHome charge at least $36,000 annually for positive coverage of MLM companies and their affiliates.
How much OneCoin is paying BusinessForHome is unclear. Nuyten does not publicly disclose how much he is paid by MLM companies featured on BusinessForHome.
Stay tuned for an update on OneCoin’s banking crisis later in the week.
Good work everybody who took part in this!
I suggest we target China Union Pay next. Concentrade efforts on both Chinese Financial Fraud agencies and China Union Pay itself.
It will be yet another blow to them when they lose the China Union Pay card.
Wow. I never read that 2015 article on Ted Nyuten. However, during the course of reaching out to others and having others reach out to me, as well as various anti-OneCULT groups whom I’m involved with, I received inside information from someone who worked with Nyuten who told me that he is IN FACT on OneCon payroll for EXACTLY 40,000 (whether € or $ was not specified, the term was “40K”).
This source did not AT THAT TIME want to be known. However, I believe that he WILL soon be willing to speak to authorities as this draws to a close.
The informant gave some VERY detailed information about Nguyen and exactly how her came to know this.
The contract between that person and myself was initiated directly after the China arrests and after Ruja’s speaking engagement at the Event in Harbin, China, which was quietly brushed under the rug and rescheduled for Hong Kong.
Like many of us, in sure we’ve gathered (and safely filed) more information than we could publish our know what to do with. While I believe I did “mention” that story vaguely here back in April, I never leaked the full details or a full name (which of course I won’t, unless both given the “go-ahead” by the source and being able to get it in the hands of the proper authority who will do something with it).
Obviously, Chris Principe is a similar reptile. I hope someone will come out with evidence and proof as to the level of his financial wind fall for helping commit crime, as well.
I’m fairly sure that Financial IT and any of Principe’s future endeavors will be well received once this begins more rapidly unfolding, unless it is a biography about his criminal involvement written behind cell walls.
…One can hope, anyway
yeah, but you know it doesn’t matter that no bank will do business with onecoin!
ken labine is just ignoring the fact that onecoin has no bank account and is gushing about how millions trust ruja ignatova because she spoke at the 4th southeast europe summit which was attended by ministers of sweden and bulgaria etc.
hmm maybe these ministers were so impressed with ruja that they’ll ferry money personally between affiliates and the company? because banks refuse to do it!
labine also forgets to mention that ‘the economist’ which organizes this summit has [out of embarrassment] removed any mention of the 4th southeast europe summit from it’s website.
China UnionPay announced in late June that the Onecoin Prepaid Card is just a prepaid card.
unionpayintl.com/cn/aboutUpi/newsCenter/companyNews/3011995.shtml
It’s only the Onesies that ever claimed otherwise. But having it made official is very helpful.
There are rumors about a new bank in Georgia. But i know, there was something before with a bank from Georgia? 😀
They can create bank account wherever they want, I believe you guys will stop them.
What came into my mind is that they might be criminalizing their “official OneLife distributors” by making them take money from new recruits.
each recruit is now accepting cash or transfers in their own bank accounts..
This invariably happens in the dying stages of a major ponzi / pyramid scheme.
It’s an opportunity for those “in the know” to get rid of their holdings and make a last grab for cash, while at the same time making it difficult for any future investigations to trace the money.
Management can deny receiving the money and very few victims can be bothered suing the upline from whom they purchased.
only the thieving shameless group of top regular ponzi players in onecoin will sell their worthless coins for cash into their own accounts [the parhialas and steinkellers and wahlroos’ and zafars etc of onecoin].
the normal investor who has been sold on the concept of onecoin, will not be able to cheat his family, friends or neighbors in this way.
the momentum is going to drop like a brick now, unless onecoin can rustle up some shady bank which is willing to support it.
uh, so john reilly top onecoin recruiter, thinks getting chucked out of every bank is an honor of some sort.
keeping his chin up and being brave a fellow he philosophized of FB:
as reilly was pretty much ‘bursting’ with pride at this point, some sharp guy stepped in and made his life easier by sticking a pin in it:
the news of onecoin’s last lonely bank shutting them out has made its way to many onecoin FB pages including the ‘official’ onecoin corporate pages with quips like:
🙂
there’s an odd conversation on onecoin recruiter lee oshea’s FB page.
he says the company is going to have 50 ‘distributors’ who will be selling the education packs, rather than the company itself?
if this is true, it would mean 50 leaders around the world opening local bank accounts and then transferring money to the central company onecoin?
is this onecoins solution to banks cutting them off – growing many heads like a hydra?
this is the conversation from a few hours back [ lo = lee oshea, xyz = random affiliates]
These distributors will become even more seriously involved with the crime. Good luck to these distributors explaining this to the police the best possible way. 😀
Licensed distributors working for the company and taking money directly aren’t any IMAs anymore from legal point of view.
They will be officially involved in the company money flow in a big way. Interesting to see, will the top leaders take a role as an official distributors, or will some lower level suckers take these jobs.
Always low levels I presume. Coz top leaders want to have “clean hands” just to say: we have nothing in common with luring ppl into this business.
I hope Ken Labine and Joby Boughey take the job as an official OneCoin distributor.
I mean.. Why not, Ken and Joby? Everything is legal and good, right? 😀
Never. They value their “independence”! 😀
I really like Kenny’s last FB-post. Never thought he could be so self-reflected. 😀
m.facebook.com/photo.php?fbid=10153830368611829&id=733381828&set=a.10151494945136829.1073741826.733381828&source=48
any onecoin affiliate who opts to become a ‘distributor’ for madam ruja’s crimes has to be very very stupid.
so many countries have issued warnings and the company is being probed by multiple regulators around the world.
the distributor will have to register a business or use his current business to open a bank account in his country. he will become the local representative of onecoin and will be targeted by the regulators in his country.
many countries cannot take ‘action’ against onecoin because it has no ‘official’ presence there. having a ‘licensed’ distributor makes it that much more easier for regulators to pounce.
goodluck to the idiots who fall for ruja’s latest escape plan.
…What a bullshit scammy coin!
Why don’t they use someone with at least some credibility left in network marketing 😛
Watch this, Ed Ludbrook making a fool of himself: facebook.com/onecoincommunity/videos/1533761280265922/
After the full cleaning of all negative comments on OneLifeOfficial Facebook page yesteday, today new angry comments from many people seem to appear in rapid phase.
Probably a new comment cleaning operation will be soon started by OneCoin, so I took one screenshot.
Give the poor Guy in that Sofia basement a break! It’s a hard job finding matching orders in that Excell spreadsheet..
😀
State-of-the-art exchange my a**….
OneCoin stole thousands of dollars from me and shut down my accounts. I do hope they get shut down asap and people can get their money back.
Wherever they go to set up bank accounts, best believe that the advocates against this crypto will be calling the banks to report the fraud they have committed.
the other people’s money you stole from them in other scams? too fucking bad shitbag.
Ryan you a crook and a scammer. I think you deserve no less, hows are your dascoin man, on the same part to destruction!
@Ryan Conley
Is that why you’re now pimping Coin Leaders/DasCoin which is a OneCoin clone?
Maybe we concentrade on OneCoin discussion here. Ryan Con-Lie I mean Conley discussion should be on some other dicussion thread.
muhammad zafar the top onecoin recruiter from the UK has been AWOL from FB since the 13th, nov.
this sudden absence is notable in light of onecoin losing all it’s bank accounts. his timeline shows he’s generally out on FB everyday crowing about onecoin which has put him at no. 8 on the list of ‘Top 200 Worldwide Earners In MLM – February 2016’ according to [the paid shill site] businessforhome.
@anjali
This is a perfect opportunity to begin posting on Zafar’s FB Page, as some OneCULT Exposure Operatives have already begun doing.
His downline Will become increasingly anxious to check there for updates, so it is a good platform to provide proof and evidence of the fraud.
Yeah. One would think you could see a list of buying orders, from which you could choose the one that suits the price you want to ask.
Then again… It’s not in the best interest of the OneCoin ltd. to show everybody that everyone is selling and no one is buying. 😉
There has never been a reason for anyone to buy coins at full price, from the back office or anywhere else.
In the big picture, the cost to the system of absorbing the “sales” that actually do get filled is minimal, just a necessary overhead to preserve the illusion of tradability.
The distributor biz model decentralizes the scamming and guts the Onecoin Ltd. shell of any targetable assets, leaving Diamond level affiliates to attempt to hide the money in smaller amounts.
Whether this is reactive to the excellent work done removing OC’s banking facilities or was part of the original exit strategy is an interesting question.
I spoke to an affiliate and asked him why no-one was buying coins at the full price. Surely that means that the price is fake?
His response: why would you buy at retail price when you can buy “wholesale” much cheaper?(!)
Zafar still holding his super saturday meetings.
His own office is in Docklands business centre, 12 Tiller road,London E14 8PX.
STILL PUMPING OUT A LOAD OF CRAP.
aFFILIATES ARE NOW TRANSFERRING MONEY TO EACH OTHER USING THERE OWN ACCOUNTS.
after weeks of inactivity, the cleaning staff on onelife FB is scrubbing with a vengeance.
not only comments, the entire post which heralded the shifting of the backoffice exchange to xcoinx has been removed.
after all, it’s very silly to gloat about xcoinx when affiliates cannot encash their coins there at all!
reported it to actionfraud.police.uk ref no :
When you buy a package with China Union Pay card from BackOffice, the payment details are following:
Translation:
Total amount of order: xxx
Business Name: Fu Baoxin State Information Technology Co., Ltd.
Order number: xxx
Order date: xxx
Order Description: gopay
No, anjali it’s still there (check out the Chinese guy’s comment)
facebook.com/OneLifeOfficial/posts/1277231632299284?
国付宝信息科技有限公司 is one of China’s 267 MSBs.
China’s largest MSB is Alipay.
To me it seems the whole Xcoinx post is hidden unless you have a direct link?
Do you know which Office/Agency is supervising these Chinese MSBs?
Now the OneCoinConArtists are heading for Manila.
“The Biggest Event” 19.12
facebook.com/story.php?story_fbid=598433910357244&id=465280963672540&__tn__=C
That’s gopay.com.cn
Feel free to send them a complaint at
NOLINK://www.gopay.com.cn/cms_2.0/common/contactus/contactus.html
Investigative TV report about OneCoin – released 25.10.2016 by the finnish public national broadcasting company Yle. English subtitles.
youtube.com/watch?v=fdljovpccLg
I like this statement from Revex.
revex.co/
@WhistleBlowerFin
As for aml issues, the supervisor is People’s Bank of China.
i don’t see it! and here’s another guy complaining it’s gone:
anyways, whatever new post comes up on the official onecoin/onelife FB pages, sees a flurry of negative comments. here’s a sample from earlier today:
the people who are still joining onecoin in hordes [according to onecoin recruiters] have to be a special kind of stupid.
recently in webinar, florian andris the top onecoin recruiter from germany said something to the effect – remove your brain and keep it in a box. the company does the thinking for you.
OC members bring your brains back and come out if your boxes once and for all!!! Ari Widell’s new article needs to be repeated.
kusetukset.blogspot.nl/2016/11/onecoin-members-living-in-denial.html?m=1
Currently this message is displayed in the onelife.eu backend:
Screenshot: i.imgur.com/uIDr7b2.jpg
Patience is what the OneLife members need indeed.
New screenshot China Union Pay Cards: i.imgur.com/N2ctILL.jpg
I haven’t heard anything of Ruja since her last appearance on public in Kiev, Ukraine. Is she still a cryptoqueen or it’s time to hide?
She’s lying incredibly low. Pablo Munoz hasn’t been seen or heard from in public since October either.
I am based in Ireland and have been involved in for about 15 months having eventually signed up some starter packages to get the Salesman off my back!
Anyway I was interested in cryptocurrency and as a business Consultant soon recognised that the Services etc provided were very unprofessional at the local level with non effective training support in product training, sales training and business development (mlm).
Meetings were disastrous and nothing more than hype and greed with very dodgy characters running the sessions eg Peter Shaw and Kari Wahlross.
I raised my concerns and have been threatened, intimidated and coerced by the Pioneer of OneCoin here in Ireland -John Barrett who has been involved in failed pyramid schemes EG Banners brokers previously.
These and numerous other significant failures locally and corporately have led me to believe this Organisation is an absolute scam and needs to close down
The good news is that the loss of banks appears to be really hurting them and this can be reinforced by;
1. contacting your uplines and sending them this banking link and asking them what they are doing about it.
2. Asking all other Affiliates to do the same and calling for an extraordinary meeting to review where OneCoin is now.
3. Tell your own downlines that there are major problems and get them to email your Pioneer uplines.
4. Complain to the police and get them to investigate and interview the local pioneers.
5. Advise the tax authorities of potential tax evasion issues.
6. Get the national papers to run an article.
7. complain to the OneCoin lawyer=– (email removed)
Keep up the pressure as this Organisation is evil.
Good luck.—One day we shall write a book about this but if you want to know more about the stories just post on this site which seems to be doing a great job.
For those of you who didn’t sign up remember you are not an idiot (as most of the so called Ambassadors (sic) will have called you).
For those of you who have signed up I am sorry that you will have lost money and you have been duped. But in retrospect that is what crazy risk is about–craziness.