HELLO FRIENDS SOME INFORMATION ABOUT BIT COIN:-OneCoin Fined For $3 Million in Italy, Italian Authorities Declare it as Ponzi Scheme

OneCoin Fined For $3 Million in Italy, Italian Authorities Declare it as Ponzi Scheme

​OneCoin, which has been long recognized as a ponzi scheme by the cryptocurrency community and an increasing number of governments including India and Germany, was recently declared as a ponzi scheme by Italian authorities and fined for $3 million.

Italian authorities told local publications including Bloomberg media partner Le Repubblica that sanctions have been imposed on all of OneCoin’s branches in Europe. OneLife network, the main operator of the OneCoin network, was fined for 2 million euros and the rest of the organization was also fined for 630,000 euros.

Repubblica further emphasized that the Italian authorities discovered OneCoin’s ponzi scheme-like nature when they realized OneCoin has been facilitating investments from new investors promising unrealistic returns. For that similar reason, OneCoin was shut down and banned in India, Germany and South Korea.

In April, Senior Police Inspector Shivaji Awate from the Economic Offence Wing II revealed that the Indian law enforcement seized bank accounts of OneCoin operators in India.At first, Bjercke was told he was offered a position at a technology company with a fixed salary of $2.5 million. However, almost immediately after the offer was provided, Bjercke grew suspicious in regard to the unreasonably high annual salary and requested the agency to disclose the name of the company. Once Bjercke was told it was a head position at OneCoin he was being offered, he declined, describing it as a scam.