OneCoin under police investigation in the UK
In a warning issued to consumers, the UK’s Financial Conduct Authority has revealed that London police are now investigating OneCoin.
The Financial Conduct Authority (FCA) is a finance regulator in the UK that operates independently of the UK government.
The FCA itself is not investigating OneCoin but observes that
This firm is not authorised by us and we do not believe it is undertaking any activities that require our authorisation. However, we are concerned about the potential risks this firm poses to UK consumers.
As OneCoin is not authorised, consumers who deal with it will have no protection from the Financial Ombudsman Service or the Financial Services Compensation Scheme.
OneCoin currently has no known financial operations in the UK.
With respect to the London police investigation, the FCA state it was only launched recently.
If you believe that you have been a victim of fraud in this regard, or have had dealings with OneCoin, then please contact Action Fraud (link is external) or telephone them on 0300 123 2040.
This weekend OneCoin is hosting an event in Thailand. Despite claiming to be a legitimate cryptocurrency, OneCoin plans to double investor’s OneCoin points, disconnect their current point generation script and hook up a new faster one.
There are also rumors that OneCoin management might begin their exit strategy after the event.
Stay tuned…
OneCoin stole over $12,000 from me and customer support will not respond to my emails.
I would love to file a complaint with authorities to help them be shut down so others do not get hurt. This ponzi must come to an end!
and yet you have no problem stealing from people under the bitclub and futurenet scams.
Ryan Conley has been pimping Ponzi Schemes for quite some time now:
Isagenix, Viewtrakr, Staged, Buzztrakr, Kannaway, Brain Abundance, Ingreso Cybernetico, Wake Up Now, YOBSN, Jeunesse, IQKonnect, TSU, Elevate Solar, Solavei, OneCoin, MMM Global, BitClub Network, Future Net, United Games and DasCoin.
One thing’s for sure. This is the best news that Ken Labine could have ever hoped for.
The fact that the Financial Conduct Authority (FCA) in U.K. has cleared Onecoin of any investigations only makes Onecoin that much stronger and lends it more credibility.
“Oh, yeah, and if you’re too stupid to believe ‘Google’ over me, than You’re too stupid for me to have you on my Team!” – Ken Labine
if i had to guess, i’d say ryan conley has rushed in here to comment on the police investigation in the UK, because he’s looking for recruits to his bitclub network.
onecoin is big in the UK, and news of an investigation will make many affiliates leave onecoin and also scare away new investors.
ryan conley has linked to his BCN scam here, in the hope of scooping up some of this onecoin business.
he doesn’t care about commentators here calling him a career scam artist because he is well beyond any sense of shame.
he’s here for ‘business’.
It’s typical in the scammer community to backstab each other for recruits.
Is OneCoin Finland website simply “under repair” right now, or is it “GONE FOR THAILAND!?”
Note: it has been down since the 18th, asset least!
Had I been recruiting donkeys in UK-
Ups, sorry. Let’s try that again. 😉
Had I been selling educational packages and “building my network” in UK I would now strongly consider permanent address change to that summer house in Dubai.
As for asking about the Finnish websites: of the two “official” sites
onecoinfinland.net has been down since early august or so. (This site was suspected to be maintained by the country leader Tommi Vuorinen but he has denied that in public and instead he said the site is maintained by the community.)
onelifesuomi.fi is online but still talks about “2,1 mrd” (i.e. 2.1 billion) fixed maximum amount of coins that cannot be exceeded.
Unofficial sites run more or less updated.
of course. undoubtedly.
recently he had been on a week long recruitment tour of the UK and couldn’t get over the fact that he had established himself as a onecoin ‘leader’.
i bet he’ll rush over to the UK again, whenever his new BFF joby boughey invites him over!
also, anyone else notice that labine has barely any arguments/clarifications regarding onecoin anymore?
he has no explanations to offer about the editing of the huffington post article, the shutting down of the italian bank account, ruja’s announcement of semi-retirement from oct 1st etc.
i guess he’s realized that there is no sense in defending the indefensible, and like the other onecoin crooks he has befriended, it may be more worthwhile to make some quick recruitment money before onecoin fizzles out.
the onecoin ‘onedreamteam’ of the UK has planned a ‘national’ event on oct 15th:
speakers at this event are:
with onecoin under police investigation now, will these guys have the guts to go ahead with this event?
rujamama ignatova and sebastianpapa greenwood are going to keep their asses firmly out of the UK from now on. who is stupid enough to keep promoting onecoin in the UK and take the fall for them?
But but but those are not true! Hahahah those are lies, all lies! Anything you read on Google and especially on BehindMLM is a lie!!
Regards,
Ken&Joby
Yes I’m expecting same kind of total retard WHOOP WHOOP Facebook reaction and article as with the Polish paper from Ken&Joby. This is similar situation, OneCoin is not under investigation by financial regulators because it has no financial operations in UK or Poland.
Take only that one thing from the article, and claim OneCoin is legal in UK, because FCA is not investigating it!!!!1 😀
(Conveniently forget to mention that other instances including police are investigating..)
@anjali & @KChang – Imi (Imran) Shah has offered me an interview. He is the second most prominent one to come out after Ruja seized his coins AND any cash in his account by freezing his back office.
My questing is, if he were agreeable to a 3-way interview, would you be willing to participate?
We BOTH know that he is now pushing CoinSpace (ie., S-Coin). And we BOTH know what that means.
HOWEVER, would you be interested in me asking if he were open for a “joint interview” that explored and focused on his OneCon experience, if a lesser, but still “hard ball” Q&A on S-Coin were open game?
As a side note, out was NOT just him whose ponzi coins were stolen within his circle. As I understand it, there were 2-3 others within his tight nit circle who had the same experience. Those others may or may not choose to remain anonymous (he had related that they were …worried (scared?) to come out.
I couldn’t promise anything, but I know that he MAY be willing to come out HEAVILY about what he knows about OneCoin, and the quid-pro-quo of decoding it MAY allow for a short dissection of what he is doing with his newest venture.
From a journalistic standpoint, I think such an interview, a critical interview, might just go quite viral.
IN FACT, There are 2 other “well known names” I MIGHT be able to bring to the table for a piece that would CERTAINLY GO VIRAL, but whom would have to endure that same scrutiny (albeit that I would want the focus, ie., the first 3/4 of the interview/ panel to be on OneCoin).
That said, by the nature of the whole thing, each of their “back stories” would intertwine into conveying the MLM industry, itself, and no viewer could conclude that we did not fully do the job of responsible journalists.
If this (or any part of it) sounds like we could collectively promote education to this space; me as a pure cryptocurrency advocate and technology enthusiast, and you two as MLM observers and critics (with certain expertise) could collaborate, we would essentially have a pretty damn interesting “Panel Discussion!”
Maybe it hasn’t been done before, but what the hell!? I’m willing to experiment and bring a “hot-seat” platform to adjoin all the names and companies involved!
Note: since none of it’s Are really PPP’ or PCP’s we could all list a favorite charity or something if anyone wanted to donate! (OneWhirled Graduation excluded, of course)
I’m brainstorming, but my Skype ID is: TimTayshun
(Oz or other contributors would be welcome, but it would need some form of semblance and moderation rules is all). Just gotta do it this week. Pretty sure it would go viral, if that were the goal and in lieu of the trend. I could probably even hey an attorney to join and moderate the discussion/ Q&A direction!
Thoughts?
If Imi Shah wishes to provide background information on OneCoin he can do so via email.
This is with respect to information only he can provide about his particular circumstance and/or his time at OneCoin.
Otherwise the business model is already known, certifying OneCoin as a Ponzi scheme. One interview or ten interviews doesn’t change that.
IMO, not that it was requested :), there’s very little benefit (to anyone but him) in giving the guy any more face time than he’s already received in Oz’s earlier article behindmlm.com/companies/onecoin/onecoin-seize-ponzi-points-from-investors-again/
If OC hadn’t cut him loose, he’d still be proudly taking whatever he could get from OC and double dipping as much as possible dragging anyone he could into CoinSpace.
So, OC ponzi promoter…. Coinspace ponzi promoter…
and even though the videos are now gone….it appears he was also a Traffic Monsoon ponzi promoter.
Not much credibility there.
thanks for the invite but i’ll pass.
you are well versed in cryptocurrency and have followed onecoin closely, so you don’t really need any help for this interview with shah.
the only value shah can bring is any ‘inside’ information about onecoin which is not yet in the public domain. otherwise he’s just another run-of-the-mill ponzi scammer who would probably use your interview with him to build up his credibility before his future victims.
on the other hand, even scammers hate being scammed so his getting ripped off by onecoin may dissuade other career ponzi scammers from joining.[maybe they’ll join him in coinspace instead! 🙂 ]
Ed Ludbrook has mentioned at least a couple of times that he has been involved in some scam busting, helping authorities and whatnot. What a true hero he is.
I would not give much credit on what ever any pyramid scammer says. If these scammers were on Titanic they would have been setting up a pyramid scheme to sell life jackets.
Here some statements from BigScammer Kari Wahlroos translated by Ari Widell
kusetukset.blogspot.com/2016/09/onecoinonelife-kari-wahlroos-tampere.html?m=1
lol’ed all over the answers, defending this scam. Eating more popcorn.
Why can’t all those scammers like Kari Wahlroos, Ryan Conley etc. be imprisoned when they have such a long history of deceiving people?
Thanks for the heads up SMH.
Apparently OneCoin are upset the FCA didn’t contact them first (so they can lie about their Ponzi business model).
OneCoin is being investigated by London police’s Economic Crime Directorate for suspected fraud. It’s not rocket science.
What’s with the scammers lately thinking regulators have an obligation to contact them prior to an investigation?
OneLife.either and OneCon.eu are down for maintenance.
This doesn’t mean anything, either way at this point. But, either way, SOMETHING should be known tomorrow.
In 2hours and 15 minutes (midnight PST) there is a “Global Mastermind” Group meeting online. Going to try to infiltrate.
Joby Boughey is in ecstacy. They claim after tomorrow nobody will say onecoin is a scam.
m.facebook.com/joby.boughey/videos/10154785987165166/
here Ruja is in the diamond training from earlier today: facebook.com/100003566896970/videos/852441901551365/
Here she is in the diamond gala dinner at 5 minute position: facebook.com/muhammad.zafar.77736/posts/10154508739118771
Ben Zmith, a Finnish/ Swedish staunch OneCoin opponent and video blogger was last seen online on muroBBS Bulletin Board out of Finland on 5/20/16, raising suspicion therein (and even concern) why someone so previously and consistently outspoken against the scam has gone mysteriously so silent.
AutoCorrection: OneLife.eu
More comedy for the day: New 2nd Header at OneLife.eu – “Build Lasting Relationships”
Well, another week in OneCoin Ponzi-Land has come to an end.
The meeting in Bangkok and the subsequent posts by our favorite Ponzi Pumpers (Kevin Foster, Ken Labine, Sarah McGee, Tom McMurrain, John Reilly, Carl Wilt, etc) reminded me of something George Carlin observed:
“Think of how stupid the average person is, and realize half of them are stupider than that.”
― George Carlin
Here’s just one example of why OneCoin was a scam from the beginning.
Yocoin trades daily with volume ranging from $20,000 to $85,000.
Today, it took only $16,359 in volume to cause a drop of 31%! Let that soak in for a minute.
Yocoin (YOC)
$0.066276 (-31.29%)
0.00010833 BTC (-31.11%)
$16,359 Volume
OneCoin is worth $7.80 or €6.95 as of Aug. 15, 2016. Note: Dr. Ruja’s prediction on OneCoin’s value in 3 years will be €100 (Say What???)
WhistleBlowerFin ran the numbers for OneCoin based on the newly created blockchain: (I know…..I know, it’s not a real blockchain but let’s play along, if only for laughs)
Here are the calculations of how many coins will be generated with the new blockchain (and their value at current prices):
In a year: 50 000 * 60 * 24 * 365 = 26.28 billion coins
In a month: 26.28/12 = 2.19 billion coins
Market cap increase in every month: 2.19 * 6.95€ = 15.22 billion euros.
According to CoinMarketCap.com, the Total Market Cap of the Top 100 Crypto-Currencies is $12,210,633,867
Is OneCoin saying the new blockchain will be pumping out coins worth more than the market cap of the top 100 crypto-currencies COMBINED – – EVERYDAY?
A couple of questions:
1. How is this even possible?
2. How can anyone sell this to their friends, family members and social media contacts with a straight face (not to mention conscience)?
I would like to ask any of the following promoters of OneCoin in the USA to respond.
Here is a partial list of OneCoin investors who are actively selling to their friends, family members and Social Media contacts on Facebook:
Tom McMurrain
Sarah McGee
Glenn Smith
Carl Wilt
Ken Labine – Canada
Kevin Foster
Sheri Hilliard-Pearce
Jason Richard Mangan
Charlotte Mangan
Joseph W Piper
Greg Adelman
Jodi Tressler Greene
Keith Bliss
Stan Harris
Mike DiGaetano
Michael & Latasha DeArmond
Jeff Shofner
John Reilly
Greg Knox
Ray Lopez
Bob Byrum
Willie Tubbs
Mary Spicer
Kaytee Godiva
Brent Patrick
Beverly Washington
Sandy Davis
Tory Bailey
Mark Halbig
Margie Scott
Erik Enriquez
Jack Palis
Patricia Ann
Jeff Litzenberger
Barbara Lloyd
Lucille Bolton Shannon
Alan C. Delaney
Andy McCormack
Joseph A Mitchell
Rick Harris
Katherine Clement
Erick Brent
Ellis Vernon
Dean Hackney
Tom Cao
Robert Townsend
Crystal Marie Spath
Belinda Aquino
Susan Bayerle
Jennifer Vloggity-Korol
Wayne Bailey
Shanna McCarty
Robin ‘Robertson’ Keith
Steve Stucke
Amy Key
Tracy Bomkamp
Justin Hackenschmidt
Leilani Braund
Sheila Brasel
Armando Flores
Lia Jean King
Cindy Baxter
Renee McCormick
Bernie Wi Neera
David Rosati
Randy Cherry
Tom Saechao
Edward Hartley
Martha Brasell
John Hadley
Laura Bulla
Bill Hartranft
Jason Coon
Russell Bowen
John Sigmund
Matthew Brunty
Ted Toastman Cross
Joshua Kaan
Rit Kaan
Laurie J. Hoyt
George Krum
Cathren T Marksen
Thomas H. Murrin
Dane Koller
Jeff Cloud
Marley Simpkins
We’ve all heard that “numbers don’t lie” or put another way, “figures don’t lie but liars figure.”
Not a peep from any of the “OneCoin Family Members” listed above on the most recent investigation – – “OneCoin under police investigation in the UK”
Go figure!
With Ruja now claiming that OneCoin is just a financial company, the FAC now would have jurisdiction. Think it is time to let the FAC know this piece of important information, don’t you?
Markus Panomies Persson, a Onecoin antagonist from Finland made an interesting observation on MuroBBS (a popular Finnish Bulletin Board):
WinCapita was the largest Ponzi in Finnish history.
Yeah, but the Finnish government can always keep a percentage of the money received from clawbacks to cover the cost of prosecution.
It comes down to a “ounce of prevention is worth a pound of cure”
If they don’t hurry up and make an example out of OneCoin and their ponzi Pumpers soon, the number of copycat crypto-currency schemes will eventually become pandemic in size.
Just look at the number of crypto-currency ponzi schemes Oz has reviewed in the past 90 days!
The proliferation of these scams is out-of-control already and getting worse by the day.
For reasons that have become clear recently in the USA, I am not a fan of big government. But in this case, someone at the national level needs to step up to protect the people from “themselves”
To be candid, I just want these ponzi pumpers to pay a price for what they have done. The hypocrisy of these scammers is truly sickening. They promote “family and religion” to open up the wallets of their friends, family and Social Media contacts.
Then, they use “fear of loss” type marketing to sell their crypto-currency packages before the next split or price increase in order to earn their 10% cut off the top.
Note: Some of them are also earning overrides on the same tactics of others. Pathetic!
For example, Kevin Foster posted this yesterday:
Of course, Kevin never mentions a word about all of the investigations taking place around the world, not being licensed in the USA, known problems selling coins (hundreds of Facebook posts prove this point), owner fraud convictions, losing bank accounts, etc
I don’t really feel sorry for the investors who let their own personal greed (1400% annual return – really?) drive them into “taking a shot” on getting rich at the expense of the next group of investors who pay for it.
In the meantime Kari Wahlroos (OneLife Ambassador) is doing fine 😉
facebook.com/photo.php?fbid=1309995902380669&set=p.1309995902380669&type=3&theater
Old Ken’s all giddy because the warning appears to have been removed. It currently gives a page not found message.
What does that have to with anything?
The FCA stated they weren’t investigating OneCoin and that the company wasn’t registered with the regulator.
Nothing has changed… it’s the London police who are investigating.