New Zealand’s Monetary Markets Authority is claiming OneCoin has “the traits of a rip-off”.
The FMA issued a client warning towards OneCoin following info acquired relating to
OneLife and OneCoin holding promotional occasions and seminars in New Zealand providing funding companies in breach of New Zealand legislation.
OneCoin will not be registered to supply securities in any jurisdiction it operates in.
Following an inner investigation, the FMA found OneCoin and OneLife had been ‘withholding consumer funds and promising unrealistic returns‘.
OneCoin ceased honoring ROI withdrawals in January 2017. Though recruitment has largely collapsed, the corporate continues to pay commissions on recruitment of recent traders.
The FMA urges anybody in New Zealand who has invested in OneCoin to contact them by way of telephone or e-mail.