The UK’s Financial Conduct Authority has approved an individual linked to OneCoin’s money laundering network, for the role of “Money Laundering Reporting Officer”.
On the absurdity scale, this isn’t far off appointing someone who worked directly under Bernie Madoff as head of the SEC.
US authorities are in the process of holding criminals responsible for operating a $400 million OneCoin money laundering network. As alleged in court, part of that network is Maximilian von Arnim.
Von Arnim (right) was well placed within OneCoin’s money laundering network. He traveled to OneCoin’s Bulgarian HQ and had direct access to the company’s executives.
Officially Von Armin worked for RavenR a series of shell companies Ruja Ignatova set up in the UK and Dubai.
RavenR email addresses were used to register OneCoin corporate properties.
At the time of publication US authorities have snared Mark Scott, David Pike and Gilbert Armenta, members of OneCoin’s money laundering network that von Arnim worked with.
Ruja Ignatova has been a fugitive on the run since October 2017. Frank Schneider remains at large.
As opposed to their US counterparts, authorities in the UK have taken no action against components of OneCoin’s money laundering network that operated out of the UK.
In fact instead of rounding up von Armin and other UK based accomplices, the FCA has since approved von Armin for a money laundering compliance position.
On December 9th, 2019, the FCA approved von Armin for the role of Money Laundering Reporting Officer at Fjord Advisors Limited.
Why is this depressingly hilarious?
A Money Laundering Reporting Officer
has a pivotal role to play in ensuring that a firm is compliance with anti-money laundering regulations.
Additionally, they’re responsible for ensuring that, when appropriate, knowledge or suspicion of money laundering is properly disclosed to the relevant authorities.
To really drive home the point; the FCA thought it appropriate to bestow a money laundering compliance role on an individual who worked to launder $400 million dollars as part of a multi-billion dollar Ponzi scheme.
Remember, the FCA is the UK’s equivalent of the SEC. There is no higher national financial authority.
Fjord Advisors Limited is part of Fjord Capital, who on their website claim to be
a London-based private equity investor focused on industrial resource efficiency with two funds under management.
We are dedicated to growing and adding long-term value to our companies by taking a hands-on approach and becoming a strategic partner to the owners and management.
Our team has a long and successful history of working together and brings deep experience in investing, strategy consulting and industrial operations.
Curiously, von Arnim doesn’t mention his involvement in OneCoin or RavenR in his Fjord Capital bio.
Considering von Arnim joined Fjord Capital in 2010, they evidently don’t have a problem with his being part of OneCoin’s money laundering network.
How much Max von Arnim was paid by OneCoin is unknown. Ditto whether he’s a person of interest to US authorities.
Certainly in the UK the FCA haven’t lifted a finger against him.
Mind this is the same FCA that for the most part did nothing while OneCoin worked to steal millions from UK residents.
And when the FCA did finally do the bare minimum (at the behest of the London City Police), all it took was some angry emails to get them backtrack.
Full credit to BehindMLM reader Semjon for doing the leg-work on this story.