The MLM monitoring publication behindmlm.com revealed on Dec. 1 that the notorious Ponzi scheme Onecoin’s web site onecoin.eu has gone offline. According to the area host Eurid, the onecoin.eu area identify is presently “under legal investigation.” Onecoin’s web site going offline follows the current arrest of the operation’s cofounder Konstantin Ignatov.
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. News.Bitcoin.com reported on the Onecoin rip-off on varied events releasing multiple 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 regardless that the expertise by no means materialized. Ignatova even instructed a crowd one night that Onecoin was a “Bitcoin killer” and that sometime it could eclipse the cryptocurrency in worth. However, the final two years haven’t been the very best of instances for Ignatova and her Onecoin coworkers as a number of three-letter legislation 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 haven’t any data on the place Ruja Ignatova is presently in the mean time.
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 International 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 received’t “face further criminal charges,” in keeping with statements from Inner City Press journalist Matthew Russell Lee on Nov. 14. However, the tax violations and fraud might see Ignatov sentenced as much as 90 years in jail. Additionally, paperwork present that his cooperation with international legislation enforcement might “reveal activities of individuals who might use violence” in opposition to him. Allegedly, the investigation paperwork spotlight that if Ignatov does no jail time, he might apply to the U.S. witness safety program and alter his id.
Multiple Onecoin Websites 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 concerning the Ponzi scheme and recruit traders. Behindmlm.com famous that the web site’s standing code stated “server hold” and discovered the area registry was owned by Eurid.
In an e-mail to the MLM monitoring publication, Eurid authorized staff defined that “the domain name [onecoin.eu] is under legal investigation. Please further check our WHOIS for the status of the domain name.” Then the next day two extra Onecoin associated web sites had been pulled from the net by the registry. Records present that oneworldfoundation.eu and oneacademy.eu went offline for a similar causes. Eurid instructed behindmlm.com that the authorized staff can be investigating different Onecoin related websites similar to One Pay, Deal Shaker, One Academy, and the One World Foundation.
Onecoin’s Queen Is Still Missing
Meanwhile, Inner City Press stories that Konstantin Ignatov’s testimony exhibits that his sister Ruja was residing in Sofia, Bulgaria simply earlier than she disappeared. He stated that Ruja instructed him that she was “very tired” and she or he was afraid an in depth affiliate would rat her out. Ignatov stated his sister invited him to journey to Greece, Vienna, and Austria and instructed him she obtained a “big passport.” “As her brother, I wanted to know how she was, why she was so worried. I went to her house and witnessed her having more or less a nervous breakdown,” Konstantin told authorities. After Ruja instructed 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 stated that she traveled to Athens and related with new mates who spoke Russian. When the investigators requested Konstantin about his sister’s Russian mates he stated:
Ruja instructed me she knew somebody very wealthy and highly effective there.
During 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 individuals ultimately get burned, similar to Bitconnect, it normally dies. Despite 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 concentrate on the leaders of Onecoin being charged for cash laundering and fraud? What do you concentrate on the Onecoin domains going offline? Let us know what you concentrate on this topic within the feedback under.
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