The accused Ponzi scheme Onecoin is starting to get into more trouble these days as the fraudulent operations are becoming more apparent than ever. Just recently Vietnamese officials have reported Onecoin has forged an official license to operate in Vietnam during a One Life investor’s event held last week in the region.
Onecoin Operators Forge Business License in Vietnam
The Onecoin operation is a pyramid scheme taking place all around the world that has raised red flags with many investors, and governments from various countries. Onecoin purports itself to be a cryptocurrency, but many skeptics believe this claim is verifiably false. In addition to not being able to prove the existence of a real blockchain, the company has faked many claims over the past few years. Furthermore, Onecoin lawyers have threatened journalists and news publications who’ve reported on the company’s shady acts.
Now Vietnam’s Ministry of Planning (MPI) and Investment Director, Nguyen Dang Truong, has reported that Onecoin representatives counterfeited an official government license to operate within the country. The MPI Director says his signature and a government seal was faked. Officials received “feedback” about the forged Ministry documents immediately after the Onecoin meetup. Vietnam authorities say the documents are not in accordance with current laws and the forgery has sparked an investigation into the pyramid scheme’s operations.
Norwegian Officials Want Information on All Onecoin Operatives Working In the Country
Two weeks ago Onecoin operators got in trouble with the Norwegian Lottery Authority (NLA), and the agency has asked for information on all One Life employees conducting business within the country. According to a letter from a local law firm, Danielsen and Co., the NLA is interested in acquiring data on residents of Norway who participate with Onecoin and foreign associates involved with promoting the multi-level marketing operation within the country. Moreover, the NLA has been investigating the pyramid scheme for over a year, sending communications to Norwegian Onecoin operators who are organizing the One Life events in the country.
Belize International Financial Services Commission Also Says Onecoin Is Not Licensed to Operate Within Its Borders
A few weeks ago ‘One Life Network Limited’ also had issues with the Belize International Financial Services Commission (IFSC) who also declared the company was not licensed to operate in the country. According to the Belize authorities, Onecoin operators are not registered and compliant with the official IFSC rules and regulations. The regions regulator has issued a cease and desist orders towards Onecoin trading and other unlicensed operations.
The past year hasn’t been good for Onecoin as regulators from many other countries are investigating the company’s financial and recruitment activities. Bitcoin.com reported on the recent Onecoin investigations in Hungary alongside the German Federal Financial Supervisory Authority (Bafin) issuing cease and desist orders against One Life Network businesses and partner firms.