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The MLM monitoring publication behindmlm.com revealed on Dec. 1 that the notorious Ponzi scheme Onecoin’s web site onecoin.eu has gone offline. Based on the area host Eurid, the onecoin.eu area title is presently “underneath authorized investigation.” Onecoin’s web site going offline follows the current arrest of the operation’s cofounder Konstantin Ignatov.
Additionally learn: Half Deux! Onecoin Purchaser Beware: The Definitive Ponzi Exposé
Onecoin Operations Come to a Halt
For 5 years the Onecoin Ponzi, a rip-off that was promoted as a cryptocurrency, managed to draw greater than $four billion worldwide from traders. The multi-level advertising and marketing (MLM) scheme was created by Ruja Ignatova, her brother Konstantin Ignatov, and Sebastian Greenwood. Information.Bitcoin.com reported on the Onecoin rip-off on numerous events releasing a number of exposés on the Ponzi’s destruction. Ruja Ignatova and her associates informed Onecoin traders there was a Onecoin blockchain and the product was an actual cryptocurrency though the expertise by no means materialized. Ignatova even informed a crowd one night that Onecoin was a “Bitcoin killer” and that sometime it could eclipse the cryptocurrency in worth. Nevertheless, the final two years haven’t been the most effective of instances for Ignatova and her Onecoin coworkers as a number of three-letter regulation enforcement businesses have been clamping down on the Ponzi’s operations. Ruja has disappeared from the limelight after buying a mansion and a yacht. In October 2018, Gerald Rubsam, a normal prosecutor primarily based in Bielefeld, Germany, engaged on the Onecoin investigation informed the press:
We have now no data on the place Ruja Ignatova is presently in the meanwhile.
In newer days issues have worsened for the Onecoin crew as Ruja’s brother and Onecoin founder Konstantin Ignatov was arrested in March 2019. Ignatov was launched on bail after his arrest at Los Angeles Worldwide Airport (LAX) and reached a plea deal in October. The Onecoin cofounder pleaded responsible to cash laundering and fraud. He additionally managed to obtain felony tax violations and received’t “face additional felony fees,” in accordance with statements from Inside Metropolis Press journalist Matthew Russell Lee on Nov. 14. Nevertheless, the tax violations and fraud may see Ignatov sentenced as much as 90 years in jail. Moreover, paperwork present that his cooperation with world regulation enforcement may “reveal actions of people who may use violence” towards him. Allegedly, the investigation paperwork spotlight that if Ignatov does no jail time, he may apply to the U.S. witness safety program and alter his identification.
A number of Onecoin Web sites Suspended
Following Russell Lee’s report regarding Konstantin Ignatov’s plea deal, on Dec. 1, the MLM monitoring publication behindmlm.com revealed that the onecoin.eu area went offline. The onecoin.eu area was used to publish promotional articles in regards to the Ponzi scheme and recruit traders. Behindmlm.com famous that the web site’s standing code mentioned “server maintain” and came upon the area registry was owned by Eurid.
In an e-mail to the MLM monitoring publication, Eurid authorized staff defined that “the area title [onecoin.eu] is underneath authorized investigation. Please additional verify our WHOIS for the standing of the area title.” Then the next day two extra Onecoin associated web sites have been pulled from the online by the registry. Data present that oneworldfoundation.eu and oneacademy.eu went offline for a similar causes. Eurid informed behindmlm.com that the authorized staff can be investigating different Onecoin related websites reminiscent of One Pay, Deal Shaker, One Academy, and the One World Basis.
Onecoin’s Queen Is Nonetheless Lacking
In the meantime, Inside Metropolis Press experiences that Konstantin Ignatov’s testimony exhibits that his sister Ruja was residing in Sofia, Bulgaria simply earlier than she disappeared. He mentioned that Ruja informed him that she was “very drained” and she or he was afraid an in depth affiliate would rat her out. Ignatov mentioned his sister invited him to journey to Greece, Vienna, and Austria and informed him she obtained a “massive passport.” “As her brother, I wished to understand how she was, why she was so frightened. I went to her home and witnessed her having roughly a nervous breakdown,” Konstantin informed authorities. After Ruja informed her brother that she was drained and requested him to depart along with her, she met with a number of senior Onecoin associates at her residence. From right here he mentioned that she traveled to Athens and linked with new buddies who spoke Russian. When the investigators requested Konstantin about his sister’s Russian buddies he mentioned:
Ruja informed me she knew somebody very wealthy and highly effective there.
Throughout the previous couple of months, Onecoin’s Ponzi operation has crumbled into ashes after the staff managed to siphon $four billion in earnings from unsuspecting traders. Ruja Ignatova’s “Bitcoin killer” imaginative and prescient by no means materialized as a result of there’s nothing modern a couple of pretend cryptocurrency. When sufficient folks finally get burned, identical to Bitconnect, it normally dies. Regardless of this, Onecoin was a colossal act of fraud on a worldwide stage that managed to leverage the cryptocurrency and blockchain hype to rip-off its victims.
What do you consider the leaders of Onecoin being charged for cash laundering and fraud? What do you consider the Onecoin domains going offline? Tell us what you consider this topic within the feedback under.
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