OneCoin Scam Update: Swedish police launch preliminary investigation – Email 12K Daily FREE Inside!

March 23, 2016 Facebook Twitter LinkedIn Google+ MLM & Affiliate Marketing News

Swedish Police OneCoin Scam Alert

Swedish police launch preliminary OneCoin investigation

Posted: 22 Mar 2016 04:07 AM PDT

In late January news broke that the Swedish Gaming Board had finished their investigation into OneCoin. The regulator found OneCoin to be ““a chain letter game or similar”, and promptly reported the scheme to police. Upon consideration of the Gaming Board’s findings these last two months, now news that Swedish police have launched a preliminary investigation [Continue reading…] Source: Swedish police launch preliminary OneCoin investigation

We looked into the concept after getting tips that reminded us of a pyramid scheme or chain letter game.

We reviewed Onecoin generally, and how the profits are distributed

It’s simple, profit in OneCoin is based on how many participants there are in it.

The business model is based on purchasing so-called training packages, happily for many 1000s of Euros.

The profits go up in the ranks. There are different ranks, and you are encouraged to buy the more expensive training packages.

This concept is built around virtual currency, which does not yet exist during the time we looked at it.

Returns possibilities are based on “beliefs”.

Investigating (OneCoin) complaints can be problematic because there are no formal representatives of Onecoin listed on the company’s Swedish website.

Even Onecoin’s site for Europe lacks information about the structure of the company and contact information. The only thing there is a Google map with an address in Sofia in Bulgaria, and advice to get in contact with the person who referred you to the site.

None of those who arranged the meeting in Eriksbergshallen wanted to speak with us (Göteborgs-Posten), they stated employees generally are not allowed to talk about their business (to the press).

Read the full article and join in the discussion over at BehindMLM.

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