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Everything You Need To Know About the OneCoin Crypto Ponzi Scheme

Posted on August 27, 2019August 27, 2019 by Lipsa Das

Many investors who wanted to jump on the cryptocurrency wagon had thought that they found the perfect opportunity for that in the crypto investment scheme OneCoin. Unfortunately, OnecCoin turned out to be nothing more than a scam. In this in-depth article, we will review everything about the OneCoin crypto Ponzi scheme. Cryptocurrency has always been considered to be a risky business. Investing in it requires a certain amount of trust, and in the worst case,…

Judge Approves Lead Counsel in $4B Class Action Suit Against OneCoin Crypto Ponzi Scheme

Posted on July 25, 2019July 25, 2019 by Rehan Yousaf

A New York’s federal judge has announced his decision of appointing Levi & Korsinsky and Silver Miller as the lead counselors of the $4 billion class action lawsuit against the cryptocurrency Ponzi scheme OneCoin, in which Donald Berdeaux was appointed as the lead plaintiff of the suit. The securities lawsuit alleges that OneCoin was a fraudulent investment program which hid behind the use of technical sophistication and fancy jargon, and thus led falsely informed investors…

Judge Denies OneCoin CEO Konstantin Ignatov Bond Application

Posted on July 3, 2019July 3, 2019 by Toby Xavier

The recent buzz in many crypto news outlets, both online and offline, is the latest updates in the trial of Konstantin Ignatov, the founder of the alleged crypto Ponzi scam OneCoin. Ignatov was the top executive of OneCoin and he is now on the news once again for the sole reason that his bond application was unsurprisingly rejected on June 28 by a judge in New York Southern District Court. This means that Ignatov will…

New Zealand Probes Samoan Church Connection to the Crypto Ponzi Scheme OneCoin

Posted on June 18, 2019August 15, 2019 by Carolyne Walker

As published on Radio New Zealand, New Zealand’s Department of Internal Affairs (DIA) is investigating the Auckland branch of the Samoan Independent Seventh Day Adventist Church (SISDAC) over its connections to the shady cryptocurrency venture OneCoin whose leader is already indicted in court. One investigation was carried out by Samoa’s Central Bank into the church. However, a separate investigation (carried out by DIA) was conducted under the Charities Act 2005, and was not focused on…

CEO of $3.8B Crypto Ponzi Scheme OneCoin, Konstantin Ignatov, Pleads Not Guilty

Posted on June 10, 2019June 10, 2019 by Rehan Yousaf

The CEO of the multi-billion-dollar crypto Ponzi scheme OneCoin, Konstantin Ignatov, has pleaded not guilty to wire fraud as per court documents. He entered the plea on May 28 preliminary hearing via a conference call. Ignatov and his sisiter Ruja Ignatov were charged with wire fraud, securities fraud and money laundering through their cryptocurrency OneCoin. The U.S. Department of Justice indicted the Bulgarian national for defrauding investors through a multinational Ponzi scheme masked by his…

OneCoin Denies Being a Hybrid Ponzi-Pyramid Scheme; Puts the Blame on Victims

Posted on May 19, 2019June 10, 2019 by Carolyne Walker

OneCoin has been in the news ever since it was launched in 2014 – mostly in a negative light, and justly so – as a myriad of countries have already banned OneCoin and labeled it as a fraudulent cryptocurrency and a pyramid scheme. OneCoin has recently been censured by the Central Bank of Samoa, regarding it as a “hybrid Ponzi-pyramid scheme” that “laundered money through New Zealand to Samoa” and that it has duped many…

Singapore Police Arrests Two Promoters of the OneCoin Cryptocurrency Scam

Posted on April 13, 2019July 9, 2019 by Carolyne Walker

OneCoin has been labeled as a fraudulent cryptocurrency by a number of countries around the world. In fact, many people connected with the promotion of OneCoin have been arrested in the past four years; those include the ringleader Konstantin Ignatov who was arrested at the Los Angeles International Airport on March 6, 2019. Recently, Singapore has also came to the same conclusion about OneCoin as two men connected with the scheme were arrested for duping…

OneCoin Leaders Indicted for Running a Fraudulent Crypto Pyramid Scheme

Posted on March 10, 2019June 10, 2019 by Julie Williams

Leaders of a fraudulent crypto firm dubbed OneCoin Ltd. are currently imprisoned and will possibly spend several years in prison following the charges brought upon them for creating and running a deceptive pyramid scheme involving the sale of a supposed crypto coin named OneCoin. The firm, which was created in early 2014, was spearheaded by its founder Ruja Ignatova, until late 2017 when she disappeared from the eyes of the public. Soon enough – in…

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