OneCoin still banned in Italy, claims Italian Consumer Center
Last month we reported on the lift of a ban that prevented OneCoin from operating in Italy.
That article was based on a 19th February published decision, which suggested that both the suspension and 2.5 million EUR issued fine had been rejected by the Regional Administrative Court (Sixth Section).
In an April 4th article titled, “OneCoin allowed again – hardly!”, the Consumer’s Center for South Tyrol (Vzs) now claims only the fine was suspended.
Vzs’ article opens by quoting OneLife’s own article on the decision, titled “The Italian market is open again”.
It then goes on provide a timeline of what happened after OneCoin was declared an illegal pyramid scheme in Italy.
The Inspectorate for Competition and Market had also imposed a fine totaling 2.5 million euros when it classified (OneCoin) as an unlawful pyramid scheme.
(OneCoin’s) operators lodged a complaint against this decision before the Latium Administrative Court, requesting an emergency suspension of the sentence.
In other words, (they requested) payment of the sentence be adjourned till the end of the case.
The suspension was ordered by AGCM, who issued it based on preliminary findings that suggested OneCoin was a pyramid scheme.
According to Vzs, OneCoin’s initial appeal was denied. This saw the company pursue the matter in the Council of State (regional court).
The Council of State decided that payment of the penalty at the conclusion of the case would not be detrimental to the state budget, therefore (they) suspended payment (of the fine).
At the same time, the State Council instructed the Lazio Administrative Court to speedily start proceedings “on the merits” (of OneCoin’s appeal).
The administrative penalty imposed by (AGCM) (with a simultaneous ban on the (continued operating of OneCoin) is therefore still in force and valid; only the payment of the penalty was suspended until the competent courts “on the merits” have dealt with the pending appeals – so the market is by no means open again.
One possible reason OneCoin jumped the gun and announced the Italian ban had been lifted was the confusing nature of the Regional Court’s order.
On the other hand being a party to the case, surely OneCoin is being represented by Italian lawyers – so how did they get the decision wrong?
Another possibility (again based on the confusing language of the order), is that the Regional Court failed to explicitly reference the ban.
The order is quite vague and certainly suggests AGCM’s orders (both the suspension and fine) were overturned.
OneCoin read into it that the suspension had been lifted and Vzs are reading it as only applying to the fine.
Along with the European Consumer Center, Vzs was responsible for filing an initial complaint against OneCoin back in 2016.
With AGCM still investigating the matter, perhaps they’ll publish an update clarifying the current status of OneCoin in Italy.
Not that it necessarily matters. Since the ban OneCoin recruitment in Italy has all but ground to a halt anyway.
As per Alexa traffic estimates, Italy doesn’t register as a significant source of traffic on either the OneCoin or OneLife websites.
But what does this mean for all the sect members braggadocio all over Facebook, Twitter and other social media?
Well it’s not news sourced from a cubicle wall written in magic marker they can harp on about for a few weeks, so probably nothing.
i was surprised when i read the earlier article that italy had suspended the ban and fine on onecoin. i went as far as to say that the italian judiciary seemed to be in shambles.
but this now makes more sense – the ban on onecoin is not lifted but the fine is suspended till the end of judicial proceedings.
fair enough.
one more kick in the butt for onecoiners, if there’s any left worth counting that is.
Found a new Italian facebook page: facebook.com/DealShakerTeamOfficialItalia/?hc_ref=ARTizBybmxCoTBzxpwdntCMHW7jkgfpJoRcHz4R_bC7ENlV5FEdBwZmuencMFMIMgvY
It seems that there is still life in the Italian network even if most of the leaders are now selling dagcoin.
Luca Miatton on DealShitter:
NOLINK://dealshaker.com/de/deal/si-noleggia-barca-yacht-mercury-di-9-20-mt/YBYsru2U12sk054IAid56Uu2sWfMu1-fnoqiCd-lY84~
Allegedly 50 coupons sold in 2017.
“”TAKE A SNEAK PEEK BEHIND THE SCENES!””
OneLife Newsl.
mailchi.mp/9c194b5c9b9d/jxkey6m9c9-701185?e=a0e0b3336a
Where? If you read it using google translator: Yes, it sounds indeed like ….
The court decision is just a “put it on hold for now”. This is usual. The fine requires confirmation by the court, and the court may modify the fine and will order its enforcement.
The case is at court. And i don’t thing AGCM will make any statements, One Coin is banned. All AGCM orders are in force, the fine is de-facto on hold.
Yes, exactly.
The first appeal was like “please send us a translated version of the order, in bulgarian language” (source. proceeding documents on AGCM homepage). Means: They are just playing games.
Let us wait a few months 🙂
Lol Instagram. I suppose at least Konstantin is in his element then.
You don’t think it’s strange that nobody, not even an Italian native speaker, came forward to clarify until Vzs?
GUYS STRANGE ACTIVITY !!!
MUHAMMAD ZAFAR …LATELY LESS ACTIVE..BI TALK ABOUT ONELIFE.. MAYBE SOON ANOTHER BLACK DIAMOND LEAVING.
Hi u people why u r wasting time on. Onecoin it’s clean Cryptoasset u people pls concentrate on Ponzi crytos
Johnny why u r wasting on poor english. Its clean edumacashun. Onecoin edumacashun toolz teach u reel good?
A German magazine reports today:
NOLINK://computerbild.de/artikel/cb-News-Internet-Bitcoin-Warnung-EU-Verbot-Thailand-Indien-19780695.html
NOLINK://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43574
Bad times for Muhammad Zafar? 🙂
Muhammad Zafar and his buddy HABIB ZAHID is now on the way to AFRICA scam tour..Uganda and Kenya 🙂
Zafar looking for the way to escape out of this planet after October crash coming 😀 ..BROKEN promises
If the scheme survives till Oct 8th, OneCoin tries the same on Oct 8th as DagCoin now: restrict heavily the selling, unlimited buying, artificial exchange ratio which has nothing to do with real supply/demand.
DagCoin is doing just that now, except DagCoin has an order of magnitude smaller number of members and thus hugely smaller sell pressure than OneCoin has.
Who the hell is gonna buy OneCoin, especially if the MLM marketing will stop as planned before Oct 8th. Practically nobody buying and huge number of people trying desperately to sell.
Would be epic to watch if the scheme survives that far.
Meanwhile OneCoin.eu traffic is still going down and DealShaker traffic is stagnant: https://i.imgur.com/OOnN6vU.png
If they manage to launch an altcoin script might be as big of a crash as BitConnect ($2.4 bill in 10 days), but I doubt it.
German BaFin updated its OneCoin ban on April 4, 2018:
NOLINK://bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/unerlaubte/2017/vm_170427_Onecoin_Ltd.html;jsessionid=FCE4F3C7A780E9A163E90EC2599ED396.1_cid298
So they’ve expanded the ban to include whatever Anxin Ltd. is? (another shell company?)
Not really seeing the point of cease and desisting the shell companies, OneCoin has too many of them.
It’s pretty much arrests or fail at this point.
Anxin, sounds Chinese.
@Oz
You confuse me. Or am I blind? Where can I find the reference to “Anxin Ltd.”?
Looks like a translation error.
What does Anordnung mean?
It means order.
Order, arrangement, design…
“Anordnung” is a court order.
Konstantin Ignatov greets all OneCoin idiots with the stinky finger:
NOLINK://share-your-photo.com/img/573b955ae2.png
OLNewsletter…
mailchi.mp/0f622ebddfbf/jxkey6m9c9-701189?e=a0e0b3336a
LOL!!!!!!
DEAR MEMBERS – TELL US WHEN YOU’RE COMING SO WE CAN SET UP SOME FAKE STUFF AND PROVE TO YOU WE HAVE A BLOCKCHAIN! HEU HEU HEU HEU HEU LOLZ LOLZ ROFL ROFL KTHX
Read more here: NOLINK://network-karriere.com/2018/04/19/achtung-finger-weg-von-mlm-coins/
Looks like some pretty big coverage exposure on Onecoin scam out of China this weekend: info.51.ca/news/china/2018-04/641773.html
Black Diamond Kamran Hye, whom has become prominent in Onecoin lately and in the OneCULT media machine is pictured at the Sofia office giving the hand sign of Onecoin’s value in one image, while the story talks about the epidemic of pseudo-crypto MLM frauds saturating China and abroad, and the one unfortunate victim of Onecoin/ OLN who immediately after exiting a long prison term after being finally exonerated of false charges, immediately was made victim by scammers promoting the fraud in that country.
The word “Vicat”/ Vicat credits/ “Vicat Currency” is the translation for “Onecoin,” as we learned in earlier stories out of China in 2016/ 2017 which resulted in scammers being arrested and stolen Onecoin funds seized.
Hopefully more coverage in Asia, where it is most needed, including more arrests, will stigmatize any remaining “greater fools” whose own Due Diligence and research abilities end at whatever the last lie to drop out of the mouth of Onecoin/ OLN scam promoters reeling them in.
OL Newsletter… mailchi.mp/ea438828e993/jxkey6m9c9-701193?e=a0e0b3336a