“Avoid OneCoin”, urges Prime Minister of Samoa
Samoan Prime Minister Tuilaepa Aiono Sailele Malielegaoi is wary of attempts to promote OneCoin locally.
So much so that for a second time he’s personally issued a warning against OneCoin investment.
An October 17th report by the Samoa Observer quotes PM Malielegaoi as stating;
We have had people from overseas who came here to promote this scheme and we had them visit the Central Bank of Samoa (C.B.S.) and the end result was that this is just that – a scheme.
he Central Bank cautioned against the One Coin scheme and we should avoid it.
Officially OneCoin claims to only sell education packages. In reality prospective investors are pitched riches if they invest in OneCoin’s Ponzi points.
As recounted by PM Malielegaoi;
You invest $1,000 and then in four months, your cash is 10 times more, which means you cash in $10, 000. This is a snare that is used to catch people’s money.
While it can’t hurt to be diligent, personally I don’t think Samoa has much to worry about.
Personally I don’t think Samoa has much to worry about.
According to Alexa Samoa isn’t a major source of traffic to either the OneCoin or OneLife websites.
Additionally OneCoin investors haven’t been able to withdraw promised ROIs since January 2017, begging the question who is still falling for the scam?
Having milked Asia and Europe dry, OneCoin is currently trying to suck a new generation of gullible South American investors in.
The company held a regional event in Argentina back in August, hosted by Konstantin Ignatov.
It has since emerged however that the event was likely cover for the establishment of banking operations across South America.
After losing a ton of bank accounts as one by one its shell companies were exposed, OneCoin officially gave up on direct bank wires in late 2016.
A month later it emerged OneCoin was using local investors to launder new investment through private bank accounts.
Whether the South American banks OneCoin is currently duping take any action against the company remains to be seen.