The MLM monitoring publication behindmlm.com revealed on Dec. 1 that the notorious Ponzi scheme Onecoin’s web site onecoin.eu has gone offline. In keeping with the area host Eurid, the onecoin.eu area identify is at the moment “beneath authorized investigation.” Onecoin’s web site going offline follows the latest 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 (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 instructed Onecoin traders there was a Onecoin blockchain and the product was an actual cryptocurrency despite the fact that the expertise by no means materialized. Ignatova even instructed a crowd one night that Onecoin was a “Bitcoin killer” and that sometime it will eclipse the cryptocurrency in worth. Nevertheless, the final two years haven’t been one of the best of occasions 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 instructed the press:
We’ve no info on the place Ruja Ignatova is at the moment in the meanwhile.
In more moderen 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 legal tax violations and gained’t “face additional legal costs,” in response to 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 international regulation enforcement may “reveal actions of people who would possibly use violence” in opposition to 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 discovered the area registry was owned by Eurid.
In an e mail to the MLM monitoring publication, Eurid authorized workforce defined that “the area identify [onecoin.eu] is beneath authorized investigation. Please additional verify our WHOIS for the standing of the area identify.” Then the next day two extra Onecoin associated web sites had been pulled from the net by the registry. Data present that oneworldfoundation.eu and oneacademy.eu went offline for a similar causes. Eurid instructed behindmlm.com that the authorized workforce can be investigating different Onecoin related websites equivalent to One Pay, Deal Shaker, One Academy, and the One World Basis.
Onecoin’s Queen Is Nonetheless Lacking
In the meantime, Inside Metropolis Press studies that Konstantin Ignatov’s testimony reveals that his sister Ruja was residing in Sofia, Bulgaria simply earlier than she disappeared. He mentioned that Ruja instructed him that she was “very drained” and she or he was afraid a detailed affiliate would rat her out. Ignatov mentioned his sister invited him to journey to Greece, Vienna, and Austria and instructed him she obtained a “massive passport.” “As her brother, I wished to know the way she was, why she was so apprehensive. I went to her home and witnessed her having kind of a nervous breakdown,” Konstantin instructed authorities. After Ruja instructed her brother that she was drained and requested him to go away together with her, she met with a number of senior Onecoin associates at her dwelling. From right here he mentioned that she traveled to Athens and related with new buddies who spoke Russian. When the investigators requested Konstantin about his sister’s Russian buddies he mentioned:
Ruja instructed me she knew somebody very wealthy and highly effective there.
Throughout the previous few months, Onecoin’s Ponzi operation has crumbled into ashes after the workforce managed to siphon $four billion in income from unsuspecting traders. Ruja Ignatova’s “Bitcoin killer” imaginative and prescient by no means materialized as a result of there’s nothing revolutionary a few faux cryptocurrency. When sufficient folks ultimately get burned, similar to Bitconnect, it often dies. Regardless of this, Onecoin was a colossal act of fraud on a world degree that managed to leverage the cryptocurrency and blockchain hype to rip-off its victims.
What do you concentrate on the leaders of Onecoin being charged for cash laundering and fraud? What do you concentrate on the Onecoin domains going offline? Tell us what you concentrate on this topic within the feedback under.
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