Chris Principe settles OneCoin defamation lawsuit

April 12, 2018 mlmdetective 0

With efforts to secure quick judgment knocked back and there not being much of a company left to fight for, it was pretty obvious Chris Principe’s OneCoin defamation lawsuit wasn’t going to trial.Following the denial of an entry for default and harassment injunction, Principe’s defamation lawsuit was sent to mediation back in January.On April 2nd a Mediation Report was filed, stating that ‘the case has been completely settled.‘According to the Mediation Report, Principe and defendant Timothy Curry settled the lawsuit in full on March 30th.On April 6th a joint Notice of Settlement was filed, which stated the parties ‘anticipate finalizing a…

OneCoin regulatory investigation confirmed in Samoa

April 8, 2018 mlmdetective 0

With OneCoin a laughing stock of cryptocurrency circles in larger countries, desperate investors hoping to recover their losses are targeting smaller markets.An emerging source of revenue for OneCoin investment is Samoa, but not if the Central Bank has anything to do with it.Speaking to the Sunday Samoan, Central Bank Governor Maiava Ainu’u-Enari confirmed a Samoan regulatory investigation into OneCoin.The Sunday Samoan suspect local church ministers are involved, however Maiava refused to name any suspects.The scheme is alleged to involve some people and organisation in Samoa who use local agents to collect people’s money in the hope of gigantic returns.As of today, the Central…

OneCoin still banned in Italy, claims Italian Consumer Center

April 4, 2018 mlmdetective 0

Last month we reported on the lift of a ban that prevented OneCoin from operating in Italy.That article was based on a 19th February published decision, which suggested that both the suspension and 2.5 million EUR issued fine had been rejected by the  Regional Administrative Court (Sixth Section).In an April 4th article titled, “OneCoin allowed again – hardly!”, the Consumer’s Center for South Tyrol (Vzs) now claims only the fine was suspended.Vzs’ article opens by quoting OneLife’s own article on the decision, titled “The Italian market is open again”.It then goes on provide a timeline of what happened after OneCoin was declared…

OneCoin Italian ban & fine suspended, AGCM investigation continues

March 8, 2018 mlmdetective 0

Following an ongoing investigation into OneCoin by the Antitrust and Consumer Protection Authority, promotion of OneCoin across Italy was banned in late 2016.OneCoin’s response to the injunction saw the company claim one OneCoin shell company was not related to another, despite being owned and operated in tandem by the same people.The AGCM concluded their investigation into OneCoin in mid 2017.The regulator formally banned OneCoin, declared it a “deceitful Ponzi scheme” and issued a 2.5 million EUR fine.Once again OneCoin tried to get out of it by again asserting its use of shell companies protected it from regulation.While OneCoin’s public response to…

3 million EUR tied to OneCoin to remain frozen, objection dismissed

February 4, 2018 mlmdetective 0

An internal investigation by Germany’s top financial regulator revealed OneCoin had received around 360 million euros into German bank accounts.The funds were deposited and transferred through OneCoin’s international money laundering network between December 2015 to 2016.Unfortunately by the time BaFin was in a position to seize the funds, only 29 million EUR remained in the accounts.Nevertheless the 29 million euros were frozen and remain so pending the outcome of an ongoing investigation.OneCoin appears to have petitioned for the release of 3 million EUR, through a complaint filed against BaFin’s freeze order.As I understand it OneCoin, through the shell company, tried to…

Ruja Ignatova builds $2.5 mill mansion, no money for OneCoin affiliates

January 23, 2018 mlmdetective 0

When exactly OneCoin began to run out of money is unclear.By January, 2017, however, affiliate withdrawals exceeded new investment such that the internal exchange had to be shut down.Despite promises of an exploding coin value for over two years, effective January, 2017, OneCoin severed affiliates from their invested funds.Over 2017 OneCoin continued to solicit new investment, however without ROI withdrawals the business tanked.By the end of 2017 OneCoin had all but collapsed, with only a handful of extremely desperate affiliates left to toe the company line.Minus recruitment commissions, which were paid out directly, it is believed the majority of funds invested into…

Chris Principe OneCoin defamation case heads to mediation

January 13, 2018 mlmdetective 0

Following two pre-trial defeats, Chris Principe’s defamation lawsuit against Tim Curry is heading to mediation.As per a January 10th filing, ADR Program staff have assigned a Panel Mediator in the case.As per Californian law,parties in every civil case must participate in one of … three Alternative Dispute Resolution (ADR) options.The ADR option selected for Principe’s case would appear to be “mediation with a neutral selected from the Court Mediation Panel”.After being denied both an entry for default and harassment injunction, Principe will enter mediation with a considerably weaker position.Not to mention the knowledge that the company backing him is in crisis, and…

To promote DagCoin, Igor Alberts slams Ponzi he earned millions in

January 13, 2018 mlmdetective 0

Last weekend Igor Alberts fronted a DagCoin recruitment event in Tallinn, Estonia.His marketing strategy?Slamming the Ponzi scheme he’s stolen millions of dollars through.Despite BusinessForHome diligently celebrating Alberts purportedly still earning $2.4 million a month through the OneCoin as at December 31st, 2017, sometime over the past two weeks Alberts ditched OneCoin for DagCoin.For those unfamiliar with the business, DagCoin is essentially a OneCoin clone with respect to its MLM offering.DagCoin was launched by a former top European OneCoin investor after the company indefinitely suspended ROI withdrawals last January.After a rambling introduction from fellow former OneCoin scammer Kari Wahlroos, Alberts scrambles onto stage…

Ted Nuyten and BusinessForHome stop shilling OneCoin

January 12, 2018 mlmdetective 0

BusinessForHome’s first article on OneCoin was published on April 1st, 2015.Not a joke by any stretch of the imagination, in it Ted Nuyten reported on OneCoin’s purchase of the Conligus affiliate-base.This paved the way for victims who lost money in the original Conligus penny auction pyramid scheme to be double-scammed.Rather than report on this disturbing development, Ted Nuyten simply parroted Aron Steinkeller’s take and referred to it as a “strategic alliance”.After making millions off of recruitment of new victims into OneCoin over the next two years, Steinkeller and his brothers walked away from a reported $2.5 million a month income in…

Chris Principe denied injunction in OneCoin defamation case

January 4, 2018 mlmdetective 0

Last October Chris Principe filed a motion requesting a harassment order against defendant Timothy Curry.Principe argued that Curry was harassing him and requested the court prohibit him from doing so.Specifically, Principe wanted toenjoin Curry from “[c]ontacting [Principe], either directly or indirectly, by any means, including but not limited to, by telephone, mail, email, social media, or other electronic means”; from “[p]ublishing [Principe’s] name in any media whatsoever”; and from “[c]ontacting any of [Principe’s] known business associates concerning [Principe] in any manner or with respect to any topic concerning [Principe].”The length of the injunction sought was five years.Upon consideration of Principe’s motion, Curry’s…