More than 100 people arrested for OneCoin scam in China. - Buy Bitcoins News profitable bitcoin Mining

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  • More than 100 people arrested for OneCoin scam in China.

    The Chinese police finally managed to unmask the pyramid scheme in cryptocurrencies known as OneCoin.
    Ruja Ignatova founder of OneCoin
    The source reveals that at least 119 people were arrested. The amount of the scam amounts to 2.4 trillion dollars.
    OneCoin, which was founded by Bulgara Ruja Ignatova, entered the Chinese market in September 2014, since then they have offered their products within the space of cryptocurrencies.
    In December 2017, a Chinese court decreed that OneCoin operated under a multi-level pyramid model also known as MLM or Network marketing. This type of companies generate money by recruiting more members within the organization instead of offering products of real value in the market.
    The verdict also revealed that OneCoin charged 1,000,000 and 280,000 yuan. The judicial department confiscated more than 1.6 billion dollars from the criminal network.
    Despite the fact that the Chinese police issued several official notices to the public warning about the OneCoin scam and other fraudulent companies that operate under the facade of crypto investments, many innocent people believed in the promises of big profits promoted by OneCoin.
    A video promoted on a Chinese Youtube channel explains how OneCoin is an official currency in 214 countries. Actually there are only 195 countries in total ... a total nonsense.
    Read More : ONECOIN SCAM
    Many critics worldwide have said that OneCoin operates a huge pyramid scheme, countries such as Austria, Samoa, Italy and India forbade the presence of OneCoin
    Source : sixtone