OneCoin regulatory investigation confirmed in Samoa
Apr.08, 2018 in OneCoin, regulation
With OneCoin a laughing stock of cryptocurrency circles in larger countries, desperate investors hoping to recover losses are targeting smaller markets.
An emerging source of revenue for OneCoin investment is Samoa, but not if the Central Bank has anything to do with it.
Speaking to the Sunday Samoan, Central Bank Governor Maiava Ainu'u-Enari confirmed a Samoan regulatory investigation into OneCoin.
The Sunday Samoan suspect local church ministers are involved, however Maiava refused to name any suspects.
The scheme is alleged to involve some people and organisation in Samoa who use local agents to collect people's money in the hope of gigantic returns.
As of today, the Central Bank of Samoa is looking at other measures to ensure that there are no more victims of this scheme.
Ainu'u-Enari is no stranger to MLM cryptocurrency Ponzi schemes.
A few years back two uFun Club investors tried to build an investor base across Samoa.
Their efforts went so far as to give a presentation of the scam to the Governor herself.
Following a police investigation, Nicholas Giannos and Rosita Stanfield were caught red-handed trying to flee Samoa after scamming victims out of over $100,000.
In 2016 Stanfield was sentenced to twelve months in prison. Giannos copped three years.
Maiava made it clear that in order to legally conduct business in Samoa one must have a business license.
"If you don't have a business license authorising the type of business that you are doing, then you cannot conduct business at all."
"If people conduct business and collect people's monies and then try to send them overseas, then that is an illegal type of business."
"Pyramid schemes or get rich quick schemes have been in existence in Samoa for quite a while."
"It happened before a few years back when we prosecuted the Ufund case, which was thoroughly covered in the media at that time."
Whether authorities are able to stop OneCoin spreading across Samoa remains to be seen.
uFun Club scammers arrested in Samoa - Jun 4th, 2015
Samoa Worship Centre in NZ tied to OneCoin Ponzi - Jan 21st, 2020
OneCoin a "high risk pyramid scheme" in Samoa, transactions banned - May 4th, 2018
"Avoid OneCoin", urges Prime Minister of Samoa - Oct 19th, 2018
OneCoin scammers used NZ and AU to circumvent Samoan ban - Apr 26th, 2019
5 Comments on "OneCoin regulatory investigation confirmed in Samoa"
OneconSquadSofia
Apr 8th, 2018 at 10:07 pm OneconSquadSofia(Q)
Warning on onecoin cryptocurrency by Central Bank of Samoa
In whom do we trust? Do you trust the money (legal tender or paper money and coins) issued by the Central Bank of Samoa ("CBS")?
Or do you trust cryptocurrency investments such as OneCoin or Bitcoin (not legal tender) using middlemen and agents promoting it, which is not regulated by law?
CBS has therefore issued a warning over the rising number of cryptocurrency promotions taking place here in Samoa.
It has come to our attention that there are promotions such as Onecoin cryptocurrency that are currently being promoted in Samoa.
How it works is that people are encouraged to sign up an account and purchase a package of tokens, these tokens can then be used to invest in a cryptocurrency, as the value of the cryptocurrency goes up, so too will your proposed reward.
In essence, you invest in the cryptocurrency and are guaranteed a substantial return on the rewards in a certain period of time.
NOLINK://cbs.gov.ws/index.php/media/latest-news/central-bank-of-samoa-issues-warning-on-onecoin-cryptocurrency-/
OzDelphi
Apr 9th, 2018 at 12:18 pm OzDelphi(Q)
Hopefully my email two weeks ago to Belize's International Financial Services Commission results in an investigation of One Life Network Limited and its owners.
Due to non payment of the International Business Companies Registry license and penalty by December 31st, One Life [name is two words] Network Limited was struck off the register in January. Refer page 196 of nolink://www.ibcbelize.com/2018/01/02/strike-off-company-name-2/
A company may apply to be restored to the registry within three years of being struck off, but may not continue doing business until it is restored. Quoting Section 109 of the International Business Companies Act,
109. (1) Where the name of the company has been struck off the Register, the company, and the directors, members, liquidators and receivers thereof, may not legally,
(a) commence legal proceedings, carry on any business or in any way deal with the assets of the company;
(b) defend any legal proceedings, make any claim or claim any right for, or in the name of, the company; or
(c) act in any way with respect to the affairs of the company.
(2) Notwithstanding subsection (1) of this section, where the name of the company has been struck off the Register, the company, or a director, member, liquidator or receiver thereof, may,
(a) make application for restoration of the name of the company to the Register;
(b) continue to defend proceedings that were commenced against the company prior to the date of the striking-off; and
(c) continue to carry on legal proceedings that were instituted on behalf of the company prior to the date of striking-off.
(3) The fact that the name of a company is struck off the Register does not prevent,
(a) the company from incurring liabilities;
(b) any creditor from making a claim against the company and pursuing the claim through to judgment or execution; or
(c) the appointment by the court of an official liquidator for the company under section 110 of this Act.
nolink://https://www.ifsc.gov.bz/wp-content/uploads/downloads/2017/04/Cap-270-IBC-Act-revised-2011.pdf
Here is an example of the shameless plagiarism by OneAcademy from books you can buy on Amazon. In this example, around 40 pages were lifted from Technical Analysis for Dummies by Wiley Publishing Inc.
youtu.be/j9ifQQcbx9s
Three press releases by the Central Bank of Samoa on April 25 and May 2, 2019
NZ Financial Inteligent Unit Reports on OneCoin Scam
Beware of OneCoin Operations, Central Bank warns
OneCoin Clarification
share-your-photo.com/d6b03b6fd6
cbs.gov.ws/index.php/media/press-releases
OzDelphi:
Here is an example of the shameless plagiarism by OneAcademy from books you can buy on Amazon.
Like using stolen a gun during an armed robbery. The robber could care less where the gun came from, as long as it helps execute the main crime.