Future of OneCoin uncertain? Sells Bulgarian headquarters


What comes to your mind when a company sells off its international headquarters? This becomes more worrying when the company involved is the type with a questionable business model.

Well, there is further confusion as to the future of OneCoin. Dr. Ruja Ignatova, founder of OneCoin Ponzi cryptocurrency has sold off its Bulgarian headquarters.

According to Capital, a local news website, the USD20 million property was sold to one local financier who goes by the name Emil Hursev.

Allegations are also rife that Dr. Ruja has sold two other property belonging to OneCoin. She was reported to have sold a restaurant called “Krim” and the building facing the National Assembly to the same Emil Hursev.

OneCoin’s headquarters is located at Slaveykov Square in Bulgaria, the same country where Dr. Ruja comes from.

In the last three months, the ponzi scheme has been bashed by various countries for being a pseudo-cryptocurrency with no value.

Several countries have issued fraud alerts, warnings and outright ban in the marketing of either OneCoin and or OneLife Network Services, its affiliate programme where investors simply exchange Euros for OneCoin tokens, a currency that has no value outside the network.

Warned scorned and bashed for being fraudulent

In January, Nigeria’s Securities and Exchange Commission, SEC, a commission that regulates and authorise the sale of investment securities warned Nigerians to stay away from OneCoin, Swisscoin and other schemes promising huge returns using Bitcoin as instruments of investments.

Many other countries have banned the sales and marketing of OneCoin. See below, a list of fraud alerts and warnings on OneCoin.

There are insinuations and predictions that OneCoin might be reaching its breaking point. Several banks have banned the scheme from using its cards and account to pay its affiliates.

Last month, OneCoin stopped all withdrawal by its investors on the pretext that one of its investee companies will be conducting an initial public offering, IPO. There are wider predictions that OneCoin might collapse.

Other analysts are of the view that the latest asset sale is part of the ploy of its owners to further launder assets from the prying eyes of the public.