OneCoin Nears End In Norway As Authorities Issue Ultimatum
The Norwegian Lottery Authority requests OneCoin to provide information about its business in Norway and about the individuals who operate OneLife, OneCoin in the country.
The Norwegian Lottery Authority has requested OneCoin provide information about its business in Norway and about the individuals who operate OneLife OneCoin in the country.
In a letter written by Oslo-based law firm Danielsen and Co., the Lottery Authority asked the OneCoin team to provide the names and addresses of those who operate OneLife OneCoin in Norway by receiving revenue from OneLife OneCoin and are members resident in Norway. The deadline for the required information is June 20.
Prior to this time, the Norwegian Lottery Authority had contacted suspected leaders of OneCoin in the country, warning them against the operation of pyramid schemes within the country. This warning was contained in a letter on April 13, 2016.
Also, there has been an eight paragraph warning in one of Norway’s biggest newspaper written by Carl Alfred Dahl. In his publication, Dahl identifies the Norwegian OneCoin population to be over 5,000 people. However, the high level of technological awareness in Norway has ensured that the majority of its population believe OneCoin is a scam.
Is the end near?
Bjercke tells Cointelegraph:
“I believe that the Lotteritilsynet (Gambling board) will follow this through and make an example of OneCoin as it is strictly forbidden in Norway to run pyramid-type organizations. In fact, you are not allowed to work if you do not have a contract with a salary.”
Bjercke notes that this development will put an end to all OneLife/OneCoin business in Norway and hopefully make a good example of authorities around the world.
He points out that it is a known fact that investing in pyramid games in Norway is illegal and all members of OneLife in Norway will hopefully get a slap on the wrist while all promoters and leaders will probably get far higher penalties.
“For me, this was a win that I have been anticipating for a long time, but the war on greed is unfortunately not over when OneCoin/OneLife still hangs on a tiny thread of hope. An IPO will never happen with OneLife's reputation and members who have bought so-called OFCs (options for future certificates) are encouraged to read the small print on Onecoinofc.com, which reads: "Please note that the OFCs are not a financial instrument and have no monetary value, therefore it is not possible to sell or exchange them for products or currency of value. They do not grant any ownership, voting or similar rights and do not guarantee any financial return”.”