ICFO Archive: OneCoin Ponzi Scheme 2 [Video]

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ICFO Archive of OneCoin Ponzi Scheme 2

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(Comments Tim Tayshun)

Dr. Don  Thanks, Tim. What are your thoughts regarding so many so-called heavy hitters are joining OneCoin

I believe there are two reasons:
1.) Onecoin has obviously gained much traction in the MLM space. They have combined MLM with a very interesting niche key-word: “cryptocurrency” – which makes the model attractive to MLM leaders who see the growth phenomena.
2.) The second reason requires a little more detail: “Cryptocurrency,” “Bitcoin” and more recently (and specifically) “Blockchain” are huge buzzwords in the tech community, which are beginning to have larger impact in other industries, such as banking, medical, remittance and more.
Unfortunately, Onecoin emphasizes these words in a very shallow manner for the sole purpose of capturing the interest of new recruits who have little to no understanding of the underlying technology, utility, challenges or even basics of functional usability (Ruja, in a recent “Onecoin: State of the Nation” video) actually discourages Onecoiners from experimenting with ANY other cryptocurrencies outside of Onecoin. The only reason for this would be that once someone begins a real investigation of Bitcoin and other crypto’s, is that they will immediately begin to identify the disadvantage and unfair financial model of Onecoin’s closed and untransparent system.
Concerning the so-called “heavy-hitters,” specifically, the first reason I listed is simply enough for many of them. The understanding of cryptocurrency as a “new technology” has its own “learning curve.” It becomes immediately exciting when the definition is peppered with a few key-words, stories or examples of Bitcoin and cryptography. The idea of “helping bank the unbanked,” etc., and “becoming bigger than bitcoin” are novel ideas and even great aspirations! However, simply making such statements are akin to (Company ABC) announcing that “we are going to be the new Google!” – but without disclosing any of the “how” or the “who” is even behind the technology for doing so. Bitcoin/ crypto/ blockchain is not “learned” overnight, and these “heavy-hitters” come from MLM, not the crypto space, and therefore simply don’t understand it (at least yet).
Lastly, these MLM leaders have the opportunity to see what all of us have seen:
*Fake Forbes Cover/ story
*Fake Financial IT Cover/ story
*Fake “exchange” (the very plagiarized  http://www.xcoinx.com – which doesn’t even work and copied, verbatim, their format and much of their text from real exchanges: CoinMarketCap.com and BitStamp
*inability to legally operate in the USA
*deception about Ruja acquiring banking licenses “in every country they operate”
* The Director of their exorbitantly over-priced MasterCard Debit issuer being convicted in the UK for $24MM drug smuggling operation
*The inability to link actual Onecoin Ponzi-coins to said MC as promised
*The inundation of complaints on numerous FB pages from users that their “sell” bids go unanswered for weeks or months at a time or are “timed out” due to lack of coin buyers at the fictitious “value” they have set.
*the quantity and frequency of banks the company has gone through in such a short time-frame
*Onecoin seized $200,000 worth of Ponzi-points from Chris Stone (a very early member whom Jehu Pariah brought onboard) and terminated his contract
***(I can list 20 or more others and cite original sources and documentation – it is not difficult to find).
THEREFORE: These so-called “heavy-hitters” VERY CLEARLY fall into one of two categories: a.) They see the money but have not done ENOUGH Due Diligence to question or come to terms with the above mentions (and more). Bernie Madoff’s firm actually had many top Wall Street brokers who fell into this category including his sons (one who committed suicide on the 2 year anniversary of his father’s arrest); or b.) very simply, they are complicit in the fact that this IS a ponzi scheme (and therefore a crime), but either don’t care or are convinced that based on legal jurisdiction within the territories of operation they will be immune from prosecution.
They are walking a very thin line. Remember, Nigel Alan was the first Onecoin CEO and founding partner (his name was just waaaay too dirty for the company not to come to the conclusion to disassociate him) and Sebastien Greenwood is still at a high corporate level (as Master Distributor) and was involved in a number of previously known ponzi schemes. It would be like a group of Attorneys or Doctors knowingly starting a new law office or medical practice with members accused or convicted of malpractice. It doesn’t make any sense if the purpose is to create a transparent and honest company.
Dr Don Thank you for following our post and for contributing your valuable and in-depth insight. Seems some readers are star struck seeing the big numbers and want to know why they shouldn’t be a part of it. Earnings mean nothing if one cannot cash them out.
Greg Knox  Your source behind MLM is the complete fraud in this article and u are as ignorant as can be for using his negative lying source! Idiots like u are the bathroom wall of the Internet! Get a real job u worthless lying piece of shit!!!
Dr. Don Thanks, we use several sources
@Greg Knox
I am not affiliated with behind MLM (nor any other blog spot, whatsoever), just FYI.
However, after following and doing continued research and investigation on Onecoin over the past 12 months, I only find more lies and deception under every rock I turn.
It seems you are probably bitter because you are beginning to see yourself your down line and many many other members being unable to redeem your Ponzi tokens and coins (just look at ANY FB page of Onecon which still allows comments to be posted there and you will see that the complaints are adding up more quickly than they can be deleted by the moderators – and they ARE being erased). So, my sympathies are with those who are recognizing too late that, indeed, ONECOIN IS THE FRAUD. The other blog sites have actually only been trying to she light on this fact to save a large wave of new recruits their hard-earned money.
Lastly, you will see my name ALL OVER the contents sections of both pro and con Onecoin posts calling them for what they are: lists, cheaters and thieves. Onecoin is the pure definition of a ponzi scam and I CHALLENGE YOU to point out ANY comment that I have personally made which is untrue. You see, I can back up my accusations with evidence and facts. Something Onecon is not familiar with.
I’ll be anxiously awaiting your response.
BFH 100+ Largest Global Direct Selling Companies 2016  https://www.businessforhome.org/2016/04/bfh-100-largest-global-direct-selling-companies-2016/
OneCoin Opens New Head Office With 150 Employees  https://www.businessforhome.org/2016/04/onecoin-opens-new-head-office-with-150-employees/
OneCoin warning issued by Austrian Consumer Protection  http://behindmlm.com/companies/onecoin/onecoin-warning-issued-by-austrian-consumer-protection/
OneCoin’s bungled US trademark application  http://behindmlm.com/companies/onecoin/onecoins-bungled-us-trademark-application/
Is it just a series of bad judgment, or “once a thief, always a thief”?  http://amlmskeptic.blogspot.my/2016/04/is-it-just-series-of-bad-judgment-or.html
Sebastian Greenwood – OneCoin Global Master Distributor Interview  https://www.businessforhome.org/2016/04/sebastian-greenwood-onecoin-global-master-distributor-interview/
sheikh  If one coin is a scam and fraud, then why no government in the world yet has done anything about it. One coin in UK Canada USA Asia Australia and more. Why the FSA don’t do anything about it. Why the BBC is not reporting one coin as scam as they did for bitcoin.
OneCoin an “illegal MLM” in Colombia  http://behindmlm.com/companies/onecoin/onecoin-an-illegal-mlm-in-colombia/
@Greg Knox
It’s been two weeks and I am still waiting for you to point out JUST ONE false or misrepresented statement that BehindMLM or ANY other “blogger” or individual has stated against Onecon. Sucks not to have an argument, even.
YOU: “They lie.”
ME: “Really? About what”
If you have a point, make it!
Chinese authorities investigating OneCoin, investors arrested  http://behindmlm.com/companies/onecoin/chinese-authorities-investigating-onecoin-investors-arrested/
Does Ruja Ignatova know anything about cryptocurrency?  http://behindmlm.com/companies/onecoin/does-ruja-ignatova-know-anything-about-cryptocurrency/
OneCoin lose cr card processing merchant  http://behindmlm.com/companies/onecoin/onecoin-lose-cr-card-processing-merchant/
GarsoneForReal  I must concur with TimTayshun. I have tried to no avail to get OneCoin to work. It does not. I will try to withdraw my money but I doubt I will be able to. This is definitely a scam. I have a whole community of people awaiting my go ahead to put at least $680 (the cost with US currency for Trader package). This blog just confirms my ignorance. If not for their incompetence at their customer service center, they would have collected no less than 40 Grand from us. Thanks Tim!!!
Bulgaria is a member of the EU and has signed the Agreement. One Coin’s domicile does not matter as the insiders will just shut down the website when the money stops rolling in and relocate to a country without extradition.
Those persons advocating “investment” in the MLM levels who are in the U.S. will most likely be sued just as Madoff feeder funds were sued. The case is “you should have known” or “you did know” that this was a scam. I know of some U.S. citizens who actively collect sales fees. They are vulnerable.
There is no “investment ” whose sales reps collect 10% commissions except in the most egregious boiler rooms. The bitcoin payment system is just nonsense. One Coin excepts any kind of payment. They want your money. Why don’t they accept One Coins?
The only thing that would change minds as to the legitimacy of One Coin is if it was freely tradeable. Even for those involved since the beginning, cannot cash in their coins. They are limited to small weekly withdrawals. Even at that, most just buy more packages with new Coins.
It is completely obvious that the number of tokens, new members and the price of coins is simply posted to the site. It is the most amateur site given that One Coin sates the market value of coins is over $4 billion USD. At this rate it will pass up bitcoin this year in market value.
The “merger” with Conligus just provides One Coin with a new customer list of suckers. ” A merger of giants” states One Coin. Conligus appears to have no business, as its Auction Site was never implemented.
Tim is correct. This is a ridiculous scam that will collapse soon. There is not one shred of believable data. Even the principals are are suspect having been involved in other such schemes.
Gideon Mawuge
I see Ugandans, broke as they are, busy rushing to invest their all in onecoin in the hope that 6 months later, they will be very rich, This is the message being passed on by the top recruiters in Uganda. And yeah, for onecoin, Uganda and Nigeria are really fertile grounds for its growth. However, I pity these gullible fellow Africans who’ve been duped into paying the little they have in the hope that they will harvest millions of dollars…..onecoin….damn! I keep watching this space.
From the people I met in onecoin’s first presentation in Uganda, I can safely withdraw my earlier thoughts. You can conclude any way you want. No one is in love with each and every investment. I am beginning to think otherwise.
Forgive me, but I don’t really understand your point. Financial crime is looking you in the eye and shaking your right hand, while their left hand has clearly removed the wallet from your back pocket and slipped it into their cheap suit side pocket.
If you have any SERIOUS challenges to this bring a ponzi scam or not, watch my video at the top of this page and prove me wrong on ANYTHING I assert from my mouth and you win a prize/ reward of 0.1 BTC (which is about $50). THAT’S how confident I am that this is a total scam.
You have about 2 hours and 20 minutes worth of negative accusations against Onecoin, mostly citing undeniable evidence and PROOF, coming from my own mouth to make $50 in bitcoin. So STEP UP!
God father
Wow, I am new to MLM… they are expanding aggressively in Asia. I was wondering how could they possibly pay such huge returns and don’t have proper details on their own site?
Tim Tayshun
OVER $30,000,000.00 (USD) IN ASSETS SEIZED!!!!!
(according to Onecoin’s official website China accounts for +480,000 Member Affiliates [IA’s])
Onecoin, an illegal MLM pyramid/ Ponzi scheme and FAKE “cryptocurrency,” marketing off of the success and technology of Bitcoin, but actually imposters (“We Are Better Than Bitcoin…”); seems to be nearing the end of its cycle of financial PONZI terror and short 19 month reign of false propaganda and deception. Recent, but unsuspecting “investors” and the elderly, hoping to ride the “new wave of cryptocurrency” success, had been promised exorbitant returns (“ROI: based-on-math”) by a wide network of “Team Leaders” and Founding Members.
*NOTE: (Onecoin’s alleged “market” operates inside a “closed-loop system” in which real-world supply-and-demand are not a factor, and which the Founder and CEO, Mrs. Ruja Ignatova, seemed to simply invent value, and expe “barometric splits,” coinciding with dips in recruitment and the need for a “push.” This would, subsequently, give a sense of urgency, as well as the false impression of high “returns,” as reflected in the Company’s Backend and fraudulent “exchange,” xcoinx).
Unfortunately, in addition to the likelihood of suffering broken relationships from bitter friends and family whom they may have innocently recruited, many now involved may lose everything they have invested. An unknown percentage of “real money” is tied up within the Onecoin Independent Affiliates’s Back Office, as well as “representative figures,” and maybe inaccessible in “onecoins,” “tokens,” “mandatory accounts,” and even their own “cash accounts” – which the company currently holds all custody of in a centralized capacity.
Onecoin has finally begun to lose traction due to numerous negative revelations and News of deceptive marketing practices; not to mention mounting criminal investigations (in nearly a dozen countries now). Slowly new investor funds are drying up as the word goes viral and IA customer service and system functionality complaints go unanswered, or worse, ARE DELETED from the Company’s numerous Facebook pages – all signs leading to Onecoin’s own internal collapse.
Fortunately, fewer people are likely to sign up, as continued legal pressure from Authorities, as well as investigative reports from Consumer Advocacy “Watch Dog” groups,  persist. This has recently curtailed recruitment of new and innocent people from purchasing the over-priced and often plagiarized (copy-written) material – parts of which are being illegally re-soldat an incredible mark-up as “Cryptocurrency (*mis)Education Packages” which has been claimed to be their “Product.”
*for emphasis
Future prospects hard-earned money will be safe from Onecoin’s mal-investment …or at least until the next get-rich-quick, hybrid cryptocurrency scheme pops up.
Leo Wang
Hey all,
I live in China, I am Onecoin China team, I am here confirm u:
维卡币 = Onecoin = Vicat (Pronounced)
e.g. Octacoin = 馬克币 = Markcoin (Pronounced)
Informations that Behind MLM stated above is 100% TRUTH!
SOURCE:  http://behindmlm.com/…/chinese-authorities-investigating-…/…
NOTE: The site I linked below says “Onecoin” 29 times, and “Vicat” 79 times (interchangeably) Hit “Translate” button on this link from Onecoin China:
SOURCE:  http://www.weikabi.org/
#1.)  http://www.yicai.com/news/5006896.html
YiCai are a part of China Business Network and are, according to their website: “China’s largest financial content provider.”
#2.)  http://cbnglobal.yicai.com/news/5006783.html
How’s this for a reliable and reputable News source! “ONECOIN IS A SCAM! INVESTORS ARE ABOUT TO BE TAUGHT A PAINFUL LESSON” From the #1 News Media in all of Germany, Der Spiegel!
note: I have used just a little bit of creative license in writing this, only to heavily dissuade any potential recruits that much further. However, all the facts are facts, and the links are good.
Tell the truth
They have sent me an email saying that the bank cards are now being issued and the can be used with union pay
Is this legit?
I thought they had there cr card stopped by the merchandisers?
Can someone please look into this
I need to know the truth is this company bogus or not?
The truth is that Onecoin is an illegal operation in China and have had their previous China Union Pay account shut down. So what do they do? They submitted a NEW one under the name “One Net” – which sounds rather innocuous and common, but is in fact the only way they could reopen the card (of course, until the authorities make the new correlation between the two!).
So what does that mean?
It means that recruits who choose to pay the exorbitant cost of setting up the pre-paid debit card for 100€ will soon have their accounts shut down and frozen as soon as the authorities figure out that “One Net” IS Onecoin!!
This is all a game of smoke and mirrors to keep new money coming in to pay off old investors, and it will not end well!
OneCoin top investors paid millions to join?  http://behindmlm.com/companies/onecoin/onecoin-top-investors-paid-millions-to-join/
BigCoin & BNA: The original OneCoin Ponzi points  http://behindmlm.com/companies/onecoin/bigcoin-bna-the-original-onecoin-ponzi-points/
the last one is a BOMB!!!!!!!!!!!!!!!!!
BigCoin & BNA: The original OneCoin Ponzi points  http://behindmlm.com/companies/onecoin/bigcoin-bna-the-original-onecoin-ponzi-points/
Bigcoin and Prospect Club was a $50MM+ Ponzi that stle that much of investors money!!
hafiz what is the last word. is it scam or real..Ignatova has spent over $20 million on Bulgarian property http://behindmlm.com/companies/onecoin/ignatova-has-spent-35-million-on-bulgarian-property/
OneCoin legal opinion lawyer was a company Director http://behindmlm.com/companies/onecoin/onecoin-legal-opinion-authored-by-director-of-the-company/

Thanks, for Reading “ICFO Archive: OneCoin Ponzi Scheme 2 [Video]

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Founder, The Internet Crime Fighters Org [ICFO], and Sponsor, ICFO's War On Crimes Against Our Children Author The Internet Users Handbook, 2009-2014
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