Another blow for OneCoin every bit Indian police draw arrest all eighteen organizers of what they depict every bit a “Ponzi system seminar.”
"The suspected OneCoin affiliate grouping had used the effect inward Bombay to assemble investment from the public, offering cash purchases of OneCoins in addition to claiming investors could croak “billionaires,” BehindMLM writes."
“This item fellowship has no registration amongst the RBI nor does it accept whatever licence for running such fiscal schemes promising high returns,” local Police Commissioner Hemant Nagrale said quoted past times local tidings resources The Hindu.
“Hence nosotros arrested the eighteen people who had organised the seminar in addition to are investigating the example to describe the main mind.”
The grouping allegedly produced “investors” claiming they had earned betwixt 500,000 in addition to i mln rupees ($7800 - $15,600) through buying into OneCoin. The toll of i unit of measurement inward 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 even in addition to hence a highly active marketplace for novel recruits.
Subsequent query of the Bombay suspects revealed funds inward banking concern accounts worth 190 mln rupees ($2.96 mln).
"The sum deposited past times investors may plough out to live on to a greater extent than every bit probe is even in addition to hence on in addition to nosotros may freeze to a greater extent than banking concern accounts," Nagrale added according to Times of India.
Cointelegraph has issued frequent warnings almost OneCoin in addition to advises readers to live on aware in addition to avoid the suspected Ponzi scheme.
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