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Amid police crackdown, OneCoin denies money laundering, organized crime charges

Jan 23 2018
By
Jonathan Smith

 OneCoin, the MLM cryptocurrency ponzi scheme, denied the charges of money laundering, organized criminal activities and fraud, under which the Bulgarian specialized prosecution and police conducted searches, questionings and confiscations last week.

 

The operation was carried out in cooperation and upon the request of the prosecutor’s office in the German town of Bielefeld, which last spring launched a criminal investigation into the activities of OneCoin in Germany. According to the official statement of Bulgaria’s Specialized Prosecution, the police and agents of the State Agency for National Security have conducted searches in the Sofia offices of One Network Services and 14 other companies, have confiscated servers and other equipment and have questioned over 50 witnesses. However, no arrests have been made.

 

The Bulgarian prosecution also said that there are numerous investigations against OneCoin in countries like UK, Ireland, Italy, USA, Canada, Ukraine and many others.

 

In a letter to the media, the PR office of One Network Services said the company and its other partners have never been involved in any type of criminal activities neither in Bulgaria, nor in other countries where it operates. Furthermore, the company claims it is being vilified and the media are conducting an ongoing campaign to tarnish the reputation of the OneCoin cryptocurrency, the companies behind it and their creator Ruzha Ignatova. One Network Services also said they are not aware what the accusations are.

 

It is worth noting that the Bulgarian authorities’ actions against OneCoin whose central offices are located in a posh building in downtown Sofia, are just the latest in a string of actions by the authorities of various countries. In the autumn of 2017 the Finnish authorities have also launched a criminal investigation, while the police in India made numerous arrests of people promoting OneCoin. There are also investigations in Hungary, as well as numerous warnings from various national financial regulators against OneCoin.

 

OneCoin is a special type of cryptocurrency that could bring big profits to those who sign up for the training “seminars” of the company. The company claims it has mined 749,970,000 OneCoins and has “ global customer base of millions of people in over 195 countries and six continents and is independent of governments”.

 

The scheme is ran by the Bulgarian Dr. Ruzha Ignatova and has the penchant of throwing lavish parties across the world to promote itself and attract gullible investors.

 

OneCoin claims it is a centralized cryptocurrency that cannot be mined, but is emitted by a single company. It is not being traded on any exchange.

 

TAGS: onecoin  bulgaria  ponzi scheme  fraud  police 
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