Tuesday, 22 March 2016

OneCoin under police investigation in Sweden

Quick translation with Google translate from Göteborgs-Posten:

"Police investigating Onecoin

Onecoin The number of investors has grown at a tremendous rate in Sweden. Meanwhile, police are now launched a preliminary investigation that the activity is illegal.

Gaming Board chose to make a police report against Onecoin for violating Lotteries January 22 this year. Now the police have chosen to start a preliminary investigation.
- We looked upon the concept after getting tips on this to remind you of a pyramid scheme or chain letter games. We reviewed Onecoin generally, and how the profits are distributed, says Josefin Aronsson, administrators in illegal gambling on the Lottery Inspection.

In simple drag Onecoin based on that profit depends on how many participants there with, she explains.
- The initiative is based on purchasing so-called training package, happily for many 1000-pieces. The profits go up in the ranks. There are different levels, and you are encouraged to buy the more expensive training packages.
- This concept is built for virtual currency, which was not yet formulated a time when we looked at. Return possibilities based on the "we believe", and it resembles it very much with existing Bitcoin, when in fact we have not found so many similarities. Regarding Bitcoin has of course been able to deal with the currency. When I reviewed, at the beginning of the year, there was nothing concrete in terms Onecoin."

Source: https://www.gp.se/nyheter/goteborg/1.3033106-polisen-utreder-onecoin

For an obvious reason OneCoin gains more and more visibility in media. All the articles are pointing at one direction: OneCoin being a pyramid scheme. It's hard to say yet if the police investigation will lead to any convictions in Sweden because OneCoin is lead from abroad and with a very messy ownership pattern of at least three different companies. However when the pyramid collapses I bet at least the biggest losers in it will file a crime report against the individuals fooling them to join OneCoin.

We have had a somewhat similar case in Finland. Global Pension Plan was an international scam scattered all over the world. There was a person convicted in Finland as a head of the snake so to say.

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