OneCoin run by a “gang of criminals”, $2.9 million seized in India bust
Developments on the Indian OneCoin bust continue to surface, in addition to the President of Thailands primary financial regulator claiming OneCoin is run by “gang of criminals”.
Following the detention of four “senior” OneCoin affiliates yesterday, Indian authorities have announced they’ve seized Rs. 189 million ($2.9 million USD).
Interrogation of arrested OneCoin affiliates revealed that group alone was responsible for collecting Rs. 5.6 million ($87,418 USD) from seventy-two affiliates.
The balance difference appears to be the result of recruitment efforts nationwide.
DCP (Crime) Dilip Sawant added, “There are several groups that have been operating across India, by conducting seminars for investors and luring them with huge returns, but Navi Mumbai Police is the first to register an offence against the scamsters.”
As the accused claimed that ‘OneCoin’ crypto currency was formulated by a woman in Bulgaria, police will investigate if they made any international banking transactions.
OneCoin are notorious for their shell companies and expansive money laundering network. Where the transaction history of the seized accounts lead Indian authorities remains to be seen.
In related news, the Bank of Thailand has issued an investment warning against OneCoin.
The Bank of Thailand is the largest financial regulator in the country. In addition to warning the public that OneCoin is not a legal currency in Thailand, the bank’s Governor declared OneCoin is run by a “gang of criminals”.
BOT’s warning follows an investigation by the regulator, which concluded OneCoin ‘may be used as a means to conduct fraudulent activity‘.
Locally OneCoin is marketed as ‘a financial product that will provide high returns if new members (affiliates) are recruited‘.
This is in line with BehindMLM’s own OneCoin review, which concluded it was a Ponzi scheme back in 2014.
What’s particularly interesting about BOT’s OneCoin warning is that the regulator is otherwise supportive of legitimate cryptocurrencies:
Ponzi schemes like OneCoin? Not so much.
Meanwhile, despite several BRUTAL BLOWS to Onecoin reputation and operations, Business for Home is …well …”Business as Usual:”
businessforhome.org/2017/04/andreea-iulian-cimbala-a-sister-and-brother-who-achieve-1-million-per-month/
Ugh… it’s like clockwork now.
Authorities crack down on OneCoin, Nuyten publishes a fluff-piece for affiliates to spam on social media.
What on Earth does Ignatova have on him I wonder…
Oh and after cancelling his India tour, McMurrain is back to boring people on YouTube with his rants.
He does still have a London event on the books… TICKET TO FINANCIAL FREEDOM: CRYPTOCURRENCY — eventbrite.co.uk/e/ticket-to-financial-freedom-cryptocurrency-tickets-33977644048
he was supposed to have been in mumbai, india on 30th april, after delhi bangalore and coimbatore.
now that he’s chickened out of his india tour, he’s rushing off to london in a hurry to download some the discounted onecoin gift codes he has, because the scam is crumbling fast now.
i don’t think he has organised a london event so fast, he’s probably gate crashing a pre organized event by some of his onecoin scammer pals in london.
instead of explaining why he’s called off his india tour, he’s been trying to take down ari widells FB page!
i like widell’s joke about tom mcmurrain:
hahahaha chick chick chick chiiickennnn!
kusetukset.blogspot.in
OneCoin and many other companies pay Ted Nuyten to run positive PR.
Seems that Ken Labine is keeping his head down for now. So far I have not seen him make a comment about the 22 arrested in India.
I’m sure it is just a matter of time before he thinks it is safe to rear his ugly head and get back to fluff pieces about how OneCoin is legal and is showing all us haters how wrong we are.
But wouldn’t it be great if the UK announced this week that OneCoin is a Ponzi and no longer allowed to do business in the UK! Tom could have 4, count them 4, major events cancelled within a week. One can hope.
Ohoo. I really hope this is true…
gerlachreport.com/news/onecoin-grossrazzia-polizei-loest-betrugstreffen-auf
McMurrain really did dodge a bullet. I too wonder if they’ll be able to pull off any arrests in Macau.
Doubtful but lets wait and see. The London investigation is also an outlier.
@Oz & @ Tricia Johns – RE: (Ted Nyuten) “What on Earth does Ignatova have on him I wonder…”
I have a very reliable Source whom I spoke with in March 2016, and whom I met, who claims to have been there when Nyuten accepted the first bribe of 40,000 (dollar/ euro ? was unclear). I’ve published this here before.
HOWEVER, I have another source who claims that initially this was an annual deal, but NOW he’s receiving $10K EVERY MONTH.
I don’t think Ted is too bright, because the first time we heard of Detective Constable Kieran Vaughan of London City Police Economic Fraud Division was in a mocking piece Nyuten published in his digi-rag (which was fairly quickly removed).
I’d guess DC Vaughan, might probably be paying considerable attention to Mr. Nyut-job. I wouldn’t be surprised if him AND Chris Principe receive more than a little slap on the wrist for their criminal accomplice to international economic fraud, money laundering, wire fraud, and some sort of media-related charges for misrepresenting the paid REPRINT of Financial IT (Feb IS Jan w/ diff cover), The PAID “Fin-Tech Mag” fake cover and the numerous BFH advertorials fluffing unverified income earnings of OC affiliates, sugar-coating the China arrests with FALSE headlines, ad nauseum.
As to that last point, now that I recall, DC Vaughan specifically advised Nyuten NOT TO PUBLISH income information on Onecoin Leaders in his letter (or something parallel in nature) as revealed in that article. What made it a mockery was that Nyuten retorted tauntingly, as I recall, but then it disappeared.
In the London Onecoin Support Group (which now has members from all over the globe) a lot of reflection has recently been taking place. Specifically, today, regarding how people who believed they could NEVER be “brainwashed” – I mean, THAT WOULD BE RIDICULOUS!
But, it was a subject of discussion which was being expressed by members as they explored and accepted that they indeed had allowed the company to methodically obtain a higher degree of control over their own minds. “But, how could that happen to ME?” was a common sentiment.
One member victim left a voice note describing how she recalled her healthy scepticism up until the February Issue of Financial IT came out.
She said even with the alleged Forbes issue she hadn’t yet been “sold” on the concept. This was the pin-pointed adn “defining moment,” when she reflected how people were able to see and touch a physical copy, which their own upline carried around, of such a “highly respected Financial Magazine which had a broad distribution in the financial sector.
Many were told that the issues were distributed to 70% of all banks and Financial Institutions (NOTE: in January F.IT online Media Kit claimed ~1,500{?} distribution, but after the Ruja issue, apparently 70,000 suddenly became the new published circulation they immediately began going with).”
The victim described in the voice note how, “That was it for me! That was when I really *knew that this company was ‘for real,’ and that we were really onto something here that was gonna pay off and could change the world and our financial futures!”
I can only imagine how painful it must have been to hear it in her own ears, from her own mouth, as these words continued to fall freely from her tongue in astonished recollection! Bamboozled!
And the consensus of those who wrote a few small words or left a message was, “son-of-a-bitch! I absolutely let myself be BRAIN-WASHED ….MY GOD!” …with the mixed bag of sadness, shame, frustration, SHOCK and absolute ANGER that would obviously accommodate this self-reflection and the criminal intentions behind the design of those perpetrating the crime.
I mean, most of the people in the group are silent (assumably for some of the same reasons aforementioned) and also have the liberty of being anonymous too, but for the majority now, they can see 20/20 and simply just can’t BELIEVE that they had LET themselves become victims and become so absolutely blinded! It was heavy to witness!
So, I hope BOTH Principe and Nyuten can be held criminally and civily liable for at least certain amount of the legal and financial claims resulting from the theft and losses of which they directly contributed to via their premeditated and greedy audio and visual glossing over and fabricating of facts and clear absence of any and all ethics.
SSL, but as a final note, do you think some of the main a-holes like Tom “I don’t watch, but I watch” MmmKayMurrain, Labile and Boughey still read every word written in every comment in here, just progressively thinking, “oh shit, oh shit, oh shit…..!”
WOW!!!!! ONELIFE WARNING FROM NATIONAL NEWS IN THAILAND, SCAM !!!
matichon.co.th/news/541966
omg
what if the indian police contact with china results in the macau event being called off?
i mean, if the chinese govt is woken up, who knows what can happen in macau? even though macau is an independent jurisdiction from china, i’m sure the chinese regulators have some influence there, especially in a matter relating to international fraud?
can ruja ignatova Risk going to macau??
c’mon commissioner nagrale and the whole mumbai EOW team! get the chinese govt to intervene in the macau event! the whole of india from kashmir to kanya kumari is rooting for you with our bollywood hearts 🙂
youtube.com/watch?v=dodDteh-m3Q
i was talking with a few one coin guys, and everyone is still defending what they do…like brainwashed…. see, they tel me all the madia is bought to harm onecoin. But seriously… not all madia can be bought….
one guy from europe told me also he made with onecoin in a few weeks 50000 euro income but now its finish.. he get payed this money but his tooken/coins are not sellable, noone wants it. and all his investment is “frozen” till 2018 …
whqt about Juha…? he lives in Thailand 40 mio usd more rich…. ignatove is chased by…what ever authoretys, what about steinkelers, and all the other leaders…?
one day they will breath metal filtered air i guess.. sad storry for all this people who belived and still belive….
I am not sure where the “gang of criminals” quote is coming from. The translation of what the BOT released is,
Linked media article. They seem to have spoken to the Governor (translates to “prime-minister”).
Double Ruby Victim Jennifer McAdam’s message to Ruja Iguanatova upon receiving a laughable emailed Lawsuit threat from Attorneys from “COMPLAINT: ONECOIN LIMITED AND RUJA IGNATOVA” (wouldn’t the plaintiff included the “Dr.” in Ruja’s totals in such an instance???). This message is WOW.
youtu.be/vrVTTtby49Y
Documents to be posted soon!
Thx to Crypto Xpose for publishing (with Jen’s permission).
Ps. Crypto Xpose on YouTube had been cranking out videos that are instant “bangers!”
The only linked article I see related to Thailand is the BOT memo.
Wohooo! Oz,perhaps an article.Hope we can get some more info.
gerlachreport.com/news/onecoin-treffen-in-macau-von-china-verboten
+++ BREAKING NEWS +++
ONECOIN FORBIDDEN (FINALLY!) IN GERMANY
bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2017/vm_170427_Onecoin_Ltd_en.html
Three strikes out. The final countdown has really started!
YEEEESSSSSSSSSSSSSS!!!!!!!!!!!!!!!!!!!!!!!!!!!
Tim you were right. Macau? Nooooo Way…
Way to go! It looks like this is the way to ban OneCoin from every country on this globe – convincing the regulators that OneCoin is in fact a security.
OneCoin now been stopped in Germany by the authorities
Federal Financial Supervisory Authority, Germany today:
bafin.de/SharedDocs/Vero…in_Ltd_en.html
ken frank ricketts and others have members only training in slovenia in 20. of may.
that is really disgusting and full of lies.
Could have sworn it was in when I hit publish. Anyway, added to “declared”.