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OneCoin pressrelease på Italiens dom.
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OneCoin’s nonsensical response to Italian pyramid scheme fine
Aug.13, 2017 in OneCoin, regulation
When Italy’s Antitrust and Consumer Protection Authority (AGCM) banned promotion of OneCoin last year, OneCoin responded with pseudo-compliance nonsense.
Not surprisingly, the AGCM took no notice and pressed ahead with their investigation. Eventually declaring OneCoin to be a “deceitful Ponzi scheme”, banning the company outright and last week, slapping it with a €2.5 million euro fine.
Unlike Ruja Ignatova’s criminal charges in India, extensive media coverage has left OneCoin unable to ignore the AGCM’s pyramid scheme fine.
Despite the AGCM banning OneCoin showing that they weren’t interested in pseudo-compliance, OneCoin’s answer to the pyramid scheme fine is more of the same.
In Ponzi lala land OneCoin has nothing to do with MLM. The MLM side of the business is operated through OneLife, which OneCoin claims it has nothing to do with.
In reality OneCoin consists of a shell company network (including OneLife), which was progressively set up to avoid regulators and launder incoming funds from all over the world.
The company operates a pyramid scheme by paying investors to recruit new investors, which is done through an MLM compensation plan.
On top of that you’ve got the OneCoin Ponzi points fraud, which sees investors investing in OneCoin points.
The only way to obtain OneCoin points is to invest with OneCoin or pay money to an existing investor who will then transfer you OneCoin points from their own balance, through their OneCoin affiliate backoffice.
Bear in mind this still requires signing up as a OneCoin affiliate. There is no way to obtain OneCoin points without going through the company.
To their credit, the AGCM’s investigation into OneCoin was based on reality and not a Ponzi lala land fantasy – which makes OneCoin’s response all the more comical.
Published on August 11th, in their response OneCoin claims
1. OneCoin is NOT an MLM company, nor has anything that could be related to pyramid sales, since it is exclusively engaged in maintenance and development of the technical aspects of the OneCoin cryptocurrency.
It does not perform any sort of network marketing activity.
This fact has been properly communicated with the authority, however neglected.
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