Yet another warning has just been issued on OneCoin Ponzi scheme.
The Central Bank of Rwanda has just done what many countries’ financial regulators have done several times in the past. It has issued a stern warning to its citizens of the dangers involved should anyone invest in OnceCoin scam.
In a statement titled: “investment scam activities operating in Rwanda”.
It seems OneCoin affiliates are no longer pushing the token side of the scheme but the pyramid recruitment that promises commissions as the bank of Rwanda was specific about its instructions.
The Central Bank of Rwanda explained that:
“These scams take the form of active pyramid schemes, pyramid scheme, multiple level marketing or cryptocurrency issuance through fake initial coin offerings (crypto scam).
Having noted the dangers of the above mentioned scams, the National Bank of Rwanda reminds the general public that these are illegal in Rwanda and investors in such schemes are highly likely to lose their money.”
Perhaps, many Rwandans don’t know OneCoin had collapsed. If they know, there is a limited chance of OneCoin getting any major success in recruitments.
OneCoin collapsed way back in 2017 after the company rescinded its decision to execute an initial public offering that was promised to its investors and affiliates. Ruja Ignatova, OneCoin’s founder and CEO has since gone into hiding.
However, Konstantin Ignatova, a supposed brother of Ruja was arrested last year by the Federal Bureau of Investigation, FBI, on orders of the United States Department of Justice, DoJ.
According to the charges against him, OneCoin scam which he was part of defrauded its investors to the tune of $3 billion between 2014 and 2017.
Konstantin recently pleaded not guilty and he remains in prison custody.
