The key element causing those rapidly frozing bank accounts was not the initiative of authorities or police but the activism of scam resistance. All the bank accounts held by the fraudsters were reported to the banks in question. As soon as OneCoin announced a new bank account to be used, a money laundering report was filed. This turned out to be a very effective way to fight against these criminals, whereas authorities and police have only limited ways to interfere international ponzi scams.
Eventually OneCoin ran out of options and had to give up having public bank accounts in November 2016. The representatives of the company had to keep bank account details as a secret from now on. Anyone willing to be a member would have to know the secret handshake to get the information about a bank account to use.
Currently OneCoin has at least 17 frozen bank accounts. I would suspect that there are much more after banks have been unraveling the money laundering scheme.
BaFin released information about OneCoin's money laundering in Germany
Not much has been known about OneCoin's money laundering besides all the bank accounts the scammers have had. Because of bank secrecy nothing has been reported about the scheme, albeit frozen bank accounts have been an obvious fact.
However 10th April BaFin released some interesting information about OneCoin's frozen bank accounts:
"On 17 and 20 February 2017, the German Federal Financial Services Supervisory Authority BaFin imposed an account freeze on the known to still be active bank accounts which IMS International Marketing Services GmbH, a German limited liability company based in the city of Greven, held in Germany."
IMS International Marketing Services GmbH was a shell company OneCoin used as bank account holder for banks based in Germany. I have posted the following blog updates mentioning this shell company:
BaFin also states that "Between December 2015 and December 2016, IMS International Marketing Services GmbH took in, in total, approximately 360 million euros on behalf of Onecoin Ltd. Approximately 29 million euros of this remains in the currently frozen accounts." I'd suspect that this shell company was targeted primarily for European scam victims.
At least we now know something about the scale of this scam - yeah, it's huge! Sadly it seems evident that most of the 360 million euros have been well laundered forward. However, I bet those 29 million frozen euros made a huge dent on Ruja's purse. - Well, not on the purse for buying gowns but the one for feeding the ponzi.
Business For Home accidentally published real news!
Lastly as a comic relief:
Surprisingly Business For Home published the news on its MLM news section today. BFH is known as a loyal paid lackey of OneCoin so publishing such news was quite unorthodox from the ponzi servant.
|Thanks to BehindMLM for the picture! I was just a bit too late to capture this kodak moment.|
However, it took only couple of hours before the news were deleted. Was it an accident or a subtle request for a hefty cash donation directed to OneCoin?
Dear Business For Home, maybe a more appropriate name for your site would be Bullshit For Home.