Things are not going well for the crumbling ponzi pyramid scheme, let alone the victims of this notorious scam. Not that there ever has been any good news surrounding OneCoin, but the amount of bad news has been accumulating since the late 2016 when the company lost the last ones of its money laundering bank accounts.
During recent months there has been 23 OneCoin reps arrested and charged in India. The trials are still ongoing with 22 of those charged (I don't know what happened one of them).
In Finland police started criminal investigation on OneCoin reps sometime during this year - supposedly before summer. The news about this was released only recently, at the point when the case was already going to be passed on to the prosecutor.
In August Italian AGCM (Antitrust and Consumer Protection Authority) ordered fines of 2.5 million euros to OneCoin because of running a ponzi pyramid scam. It remains to be seen whether or not OneCoin pays the sanctioned sum. Whatever the scammers decide to do, the verdict will remain.
OneCoin itself only gives a cold shrug of shoulders to bad news or publish illogical press releases blaming everything on independent reps. It's funny though that while accusing their reps about wrong doings, the company leaders and key speakers have been cancelling events in India. Of course, OneCoin has also given up Italy and Germany.
While waiting for the inevitable end of its deteriorating scam business, OneCoin can only sit and wait for more bad news to emerge. They just had to awkwardly drop their IPO plans, DealShaker (aka DealShitter) hasn't been much of a boost to the scam, and above all more and more people know about the true nature of the scheme already.
|- Hmm, what to explain to the ponzi investors?|
OneCoin abandons its Chinese investors
Citing the headline from an article posted Wednesday on BehindMLM:
"OneCoin to exclude Chinese investors from ICO, no refunds?"
The government in China really pulls the rug from under the wobbly feet of the ponzi. This week a committee led by China’s central bank announced an immediate ban on ICO (Initial Coin Offering) funding.
According to Techrun.com:
"The Chinese committee voiced concern that some ICOs are financial scams and pyramid schemes. That echoes a recent warning from Singapore’s MAS."
- Well, well, OneCoin certainly isn't a stranger to Singapore's MAS. It was monitoring the investigation on OneCoin's bank account for money laundering in United Overseas Bank during November 2016.
China was also the very first country to act against OneCoin by arresting ponzi reps during the Spring of 2016... And, wait, I'm just getting this fresh report: 35 Chinese OneCoin affiliates arrested, jailed & fined. Looks like the authorities in China are really trying to kick OneCoin's ass in their region.
The ponzi claims to have most of its members from China. Now that China has banned scams like OneCoin from operating via ICO scheme, there's going to be a lot of members asking questions from their uplines and the company itself.
However, one thing is certain, there's going to be no refunds by OneCoin. The only thing members can do to try to get their investments back is to file police reports and have bank accounts of scammers frozen before their investment goes through money laundering.
Over 400 visits to my blog by banks, government officials and police
I took a look at the visitor statistics of my blog starting from August 2016 up to this day and found out the following details:
- Well over 300 visits came from various banks all over the world.
- Over 100 visits by government officials, police etc.
That been said there has been over 400 visits by officials investigating these scams featured in my blog, that's roughly one visit every day during the last 12 months. I guess it goes without saying that the most investigated scam by the visitors has been OneCoin.