Another blow for OneCoin every bit Indian police push clit arrest all eighteen organizers of what they push clit every bit a “Ponzi system seminar.”
"The suspected OneCoin affiliate grouping had used the consequence inwards Bombay to get together investment from the public, offering cash purchases of OneCoins as well as claiming investors could overstep away “billionaires,” BehindMLM writes."
“Hence nosotros arrested the eighteen people who had organised the seminar as well as are investigating the example to line the primary mind.”
The grouping allegedly produced “investors” claiming they had earned betwixt 500,000 as well as 1 mln rupees ($7800 - $15,600) through buying into OneCoin. The cost of 1 unit of measurement inwards Bombay was presented every bit 11,900 rupees ($185).
BehindMLM additionally notes that despite OneCoin’s negative reputation worldwide, Republic of Republic of India is withal a highly active marketplace for novel recruits.
Subsequent inquiry of the Bombay suspects revealed funds inwards banking concern accounts worth 190 mln rupees ($2.96 mln).
"The total deposited past times investors may plow out to last to a greater extent than every bit probe is withal on as well as nosotros may freeze to a greater extent than banking concern accounts," Nagrale added according to Times of India.
Cointelegraph has issued frequent warnings well-nigh OneCoin as well as advises readers to last aware as well as avoid the suspected Ponzi scheme.