Swedish police launch preliminary OneCoin investigation
In late January news broke that the Swedish Gaming Board had finished their investigation into OneCoin.
The regulator found OneCoin to be ““a chain letter game or similar”, and promptly reported the scheme to police.
Upon consideration of the Gaming Board’s findings these last two months, now news that Swedish police have launched a preliminary investigation into OneCoin.
Confirmation of the police investigation saw Josefin Aronsson, an administrator with the Gaming Board, elaborate on their initial findings.
We looked into the concept after getting tips that reminded us of a pyramid scheme or chain letter game.
We reviewed Onecoin generally, and how the profits are distributed
It’s simple, profit in OneCoin is based on how many participants there are in it.
The business model is based on purchasing so-called training packages, happily for many 1000s of Euros.
The profits go up in the ranks. There are different ranks, and you are encouraged to buy the more expensive training packages.
This concept is built around virtual currency, which does not yet exist during the time we looked at it.
Returns possibilities are based on “beliefs”.
As authorities in Sweden escalate their investigation into OneCoin, news also that top investors are urging their downlines to not withdraw funds.
It is because the company has grown so fast, says Edward Ludbrook, a OneCoin spokesperson in Sweden.
Göteborgs-Posten, a Swedish newspaper, reported on a recent OneCoin event held in Sweden last Sunday.
Edward Ludbrook (told investors in attendance) that with effort, one can earn 1000-2000 euros a week.
“This is a fantastic opportunity. But if you sell your coins, you are an idiot”, he said during the meeting.
Göteborgs-Posten asked Ludbrook about the Gaming Board’s investigation into OneCoin. He told them he wasn’t aware of their findings.
Commenting on the recently announced police investigation, Göteborgs-Posten write
Investigating (OneCoin) complaints can be problematic because there are no formal representatives of Onecoin listed on the company’s Swedish website.
Even Onecoin’s site for Europe lacks information about the structure of the company and contact information. The only thing there is a Google map with an address in Sofia in Bulgaria, and advice to get in contact with the person who referred you to the site.
None of those who arranged the meeting in Eriksbergshallen wanted to speak with us (Göteborgs-Posten), they stated employees generally are not allowed to talk about their business (to the press).
Göteborgs-Posten claim they have
received emails from concerned parents that describe how 18 to 20 year olds have borrowed money to invest in Onecoin. (The parents) are afraid that young people are being duped.
When questioned about it, Ludbrook replied
I’ve never heard of that. How many e-mails was that? Two?
How many 20 year olds do you see here? Very few.
I have been with the company a long time and have never heard of such a thing.
At the time of publication, there is no time-frame for completion of the Swedish police investigation into OneCoin.
Stay tuned…
This whole Onecoin thing is so obvious. There are so many red flags its ridiculous that anyone can actually believe its legitimate.
Now OneCoin acquired a brazilian MLM SCAM named Univerteam…
Univerteam broke in Dec-2015 and didn’t pay thousands of users. It went bankupt. To fix this situation, the Univerteam CEO, Alexandre Arenales, sold and transferred the responsability and all accounts to OneCoin!!
It was clearly a Ponzi Schem, a scam and prejudiced millions of users in all regions of the world (Russia, Brasil, Spain, Hong Kong) …
I guess they are simply buying the database to feed the onecoin scam. How many so far? I guess no one have a clue.
I noticed the OneConners are all aflutter today as their Token accounts DOUBLED overnight!
How can the Swedish Police not understand that OneCon has developed MAGIC TOKENS that are somehow able to change the rules of time and space.
One day you have 5,000 Tokens in your account and then next day Ruja waves her magic scepter, says “Abracadabra” and you now have 10,000 Tokens! And, the price of the COIN remains the same.
Magic Tokens – that’s the ticket.
They were saying the same thing about Bitcoin. Bitcoin started at 0.08c per coin and it grows to $534!
Bitcoin isn’t a closed-loop system that pays out a ROI per point invested in with newly invested funds.
@mlmbroken down…another lie !!!!!!! people say things without verifying their source….
no split yet soon though
ken labine the onecoin promoter from canada, is claiming that a document has been made available to onecoin affiliates in their backoffice, which is a ‘legal opinion’ of a swedish law firm, clearing onecoin of any violation of swedish laws.
seeing that this is most probably a ‘paid’ opinion from a law firm, and not clearance from the swedish gaming board or police, labine’s ‘happy dance’ is difficult to comprehend.
according to labine, this is what the law firm [wistrand] announced:
ha, i’m sure this ^^ ‘legal’ opinion will stop the swedish police investigation into onecoin right in its tracks!
There’s a “ONELIFE_LEGAL_OPINION_SWEDEN_JULY2016.PDF” in the back office alright but I can’t download it nor see it.
The shitty backoffice has all the other pdf’s available but this.
Oh gee. Another paid legal opinion from OneCoin’s lawyers. Because that trumps a government investigation and the fact that OneCoin use newly invested funds to pay off existing investors.
Was this lawyer also secretly given a management position in OneCoin?
It’s all about Onecoin’s compensation plan. Not a word mentioned about cryptocurrency.
filedropper.com/sweopinion
Well OneCoin’s comp plan is invest money and get paid a ROI from newly invested funds.
Any law firm that signs off on that is kidding themselves.
According to Wistrand Onecoin is selling “products”. I guess Sascha Schaeferdiek saw easy money with low effort and was happy to give his blessing to Onecoin’s scheme.
actually it’s about onelife’s comp plan, and cryptocurrency is not mentioned since onecoin has been separated from onelife.
according to the wistrand opinion, onecoin IMA’s buy products for ‘demonstration’ purposes. duh, which company were they reviewing?
and stupid conclusions like – commissions are paid primarily on product sales. duh, sales to whom? to other IMA’s?
i bet no serious MLM company will hire the legal services of wistrand, as they probably cannot even spell ‘pyramid scheme’.
if wistrand is rujamama’s best bet against the swedish investigations, then good luck to her.
For once in my life i say Thanks Labine, for revealing the info about Wistrand and Sascha.
We start the action at once. Wistrand has been a wellrenowned Lawfirm but hardly after this.
Either he’ll throw a junior associate under the bus when the time comes (I was misinformed on the junior’s wrong opinion) or he plans to be Nehra of Europe, making a boatload for endorsing suspect schemes before he retires.
(Ozedit: Private link removed)
Can someone call the cops please 🙂
Swedish police investigation into Onecoin closed Feb. 24th, 2017:
businessforhome.org/2017/03/swedish-police-close-onecoin-investigation/
Investigation into Onecoin re-opened on March 17th, 2017:
twitter.com/CA_Dahl/status/843793697644994560
IS THE COMPANY ARE REGISTER TO THE ORIGINAL COUNTRY OF Dr Ruja also also are register in UK ?
OneCoin is registered through a number of shell companies (tied to Ignatova’s mother last someone looked into it), the details of which are kept secret.