Embattled OneCoin Denies Multi-Billion Dollar Ponzi Scheme Allegations
By CCN: OneCoin execs are sick of being called a Ponzi scheme. Allegations of ripping off churches are false too, they claim.
In a lengthy letter to the Samoa Observer, the cryptocurrency-powered marketing company defended itself against what it considers to be false allegations
OneCoin takes issue with news articles that were used by the Central Bank of Samoa (CBS), which fueled the Ponzi scheme narrative. The CBS has issued clarifications about the information it received about OneCoin’s operations.
OneCoin is alleged to be involved in a $3 billion pyramid scheme. The Manhattan U.S. Attorney claims that the company created a fraudulent cryptocurrency with the intent of defrauding investors. @proskauerhttps://t.co/CQ155s0rBo pic.twitter.com/UkXmqM0Krh
— LexBlog (@LexBlog) May 10, 2019
Denying Pyramid Scheme Allegations
The pyramid scheme allegations stem from a case in which OneCoin was charged with encouraging people to invest and promising a profit. In March, the FBI arrested OneCoin player Konstantin Ignatov based on allegations that he was one of several masterminds behind a multi-billion dollar crypto pyramid scheme.
*Update*
Konstantin next preliminary hearing will be held on or around May 27th 2019 👇#onecoin #ponzi #Fraud #psuedo #crytpocurrency #scam pic.twitter.com/KN3QEuQ3EN
— Jen McAdam (@JenMcAdamGlobal) April 27, 2019
OneCoin has faced fines and criminal actions around the world – particularly in India, where 22 promoters have already been charged. Meanwhile, China has also levied charges against OneCoin promoters, while several central banks have issued warnings, CCN reported.
