FILE: ONECOIN

Created in 2014 through the merger of several MLM snowball systems and long-standing MLM specialists, OneCoin is one of the largest MLM pyramid selling systems to date. There are no exact figures about the volume of this ponzi system, but the fact that in Germany alone IMS International Marketing Services GmbH earned around 360 million euros in the period between December 2015 and December 2016 due to the agreement concluded with Onecoin Ltd, Dubai (29 million of which were secured) gives an idea of the huge volume of this fraud system. In the meantime, OneCoin has already been identified in many countries (such as BAFIN; FMA,..) either as a pyramid selling system or the provision of services related to this fraud system has been banned. Police investigations are underway against the founders (DR RUJA IGNATOVA) and also against many sales partners worldwide. The parent company of the system is based in Sofia, Bulgaria.

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