Wednesday, 27 April 2016

OneCoin in media

Updated, 4 May. Check out the bottom section.

Let's straighten out some lies about OneCoin's presence in media that onecoiners have been eager to spread in order to lure more people into this ponzi scheme.

The Forbes Cover - a paid ad

As we all know by know this was a paid ad. Even OneCoin itself has acknowledged this - although at first they sure kept carefully presenting the "cover" and the article with out ever mentioning that it was just an ad. When the magazine was presented in any video or picture they made it sure not to show the actual cover and there was an obvious intention to mislead to think this as the actual cover and thus the article not paid for.

Financial IT - a paid ad

There are still onecoiners claiming that the article in the February issue of Financial IT was not a paid ad. Onecoiners also like to give a vastly exaggerated picture of Financial IT as a magazine intensively followed by financial world. They claim that about 70 % of banks in the world are subscribers to Financial IT. 

The reality is that Financial IT is a insignificant magazine which is published only four times a year with only 2000 print copies (claims the magazine itself). Their archive reveals that they have been publishing the magazine only 1-2 times per year before 2016. 

Each issue of Financial IT contains almost entirely paid articles and ads. They are also quite flexible what comes to their integrity. When a ponzi scheme comes splashing their cash Financial IT seems to be the magazine to get an article into. They even went as far as made an exception to have an extra issue published when OneCoin showed enough money to get an article (with a cover) to their magazine. 

To underline the ridiculousness of the case the issue for OneCoin is exact copy of Financial IT's previous issue in JanuarySome onecoiner uploaded the "February issue" to the internet back in February and the magazine was available online for some time. I made a thorough comparison to the magazines back then and I can confirm that the February issue is the exact copy of the January/Winter issue. Only difference is of course the cover and Financial IT had to do some modifications to the table of contents. They also removed some ads to make space for the OneCoin article.

Here you can also see a comparison of the January-February issues in a video:

Yle News - the early days of OneCoin

This video clip from a Finnish Yle News broadcast can also be found in OneCoin's Facebook video collection. I can't remember exactly when this was broadcasted but it is mentioned that by the time of the interview OneCoin claimed having about 70.000 members.

The general tone of the Yle News about OneCoin in this video is skeptical and warning. A reporter mentions that OneCoin is considered being a pyramid scheme although not referring to any particular source.

Yle News again - in the beginning of 2016

This was broadcasted either in February or March 2016. The video is somewhat edited but it has subtitles in English so no need for further explaining:

Yle - a reporter interviews OneCoin's Finnish country manager Tommi Vuorinen in March 2016

Again there are English subtitles so see it for yourself:

The Daily Mirror, 10 Feb 2016 - definitely not a paid ad

Yle News, an article 13th March 2016

- The reporter keeps an unbiased approach to the subject. However the deeper he investigates the more ponzi warning signs pop up.

There are also a bunch of newspaper articles warning about OneCoin. OneCoin itself isn't keen on commenting to newspapers so they tend not to respond to any reporters unless they can be bought.


Update, 4th May

I forgot to add this article from Finnish Ilkka newspaper published 20th April:

The headline in English: 
Monetary experts warn: Don't invest a cent in Onecoin.

The article is very critical towards Onecoin and it warns people from investing money to the scheme.

At the bottom of the article there is the Finnish country manager interviewed. Nothing surprising there. He defends the pyramid with the same phrases as before.

Here's also an article from Iltalehti 12th March:
- The tone of this article is warning and it points out some red flags. There's also warning from the Finnish NBI at the bottom part of the article where the NBI states that there are both financial and criminal risks for anyone participating OneCoin.

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