Indian Police Label $12 Million OneCoin Operation a ‘Clear Ponzi Scheme’

in #altcoin7 years ago (edited)

Indian authorities have filed a primary charge sheet against 30 individuals accused of promoting OneCoin in the country.
Tushar Doshi, deputy commissioner of crime at Navi Mumbai police stated:

In this sort of scheme, investors become the perpetrators as well as victims. It is clear that this is a Ponzi scheme.

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The sweeping operation, the charge sheet further revealed, had amassed over ₹75 crores (approximately $12 million) from investing victims. So far, authorities have seized ₹25 crores (just under $4 million) from bank accounts.

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The lure for rich rewards was a one-time investment of ₹11,900 (approx. $185). Investors were told that the value of their OneCoins, which is purchased with that initial investment, is tied with the value of the Euro. A substantial payout was promised in December 2018.

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Indian police are currently on the lookout for six OneCoin promoters tied to senior positions of the scheme, including its mastermind Rjua Ignatova.

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Source: https://www.cryptocoinsnews.com/indian-police-label-12-million-onecoin-operation-a-clear-ponzi-scheme/

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Thank You!

Upvoted

Thank you so much

Investors don't understand that Onecoin is not a real cryptocurrency because it has no blockchain!

No, but it has a chain of blockheads...

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Thats good , u know here in pakistan few guys still promote this shit coin , just few days back i meet one of the promoter, i told him one coin is poonzi , in most countries it decleared poonzi and complete baned so why you guys doing that , but that one not agree to me ,

You must be carefull while investing in pre-sale

When there is money you always have these ash.... who try to find a way... I hate this..