Onecoin scam promoter condemned to pay $72,000 in Singapore.

By alberdioni8406 | S.O.S | 4 Jul 2020

Who is connected to the world of crypto I believe heard about the Onecoin ponzi scheme, emerged in 2014 promising to lead the Cryptocurrency market and left behind Bitcoin and other Cryptos, at the end turned into the biggest scam ever with almost $4.4 billions defrauded from people, with the CEO on the run and one of Co-founders facing a 90 years sentence on U.S and several others prominent team members on certain countries waiting for their trials to respond their participation on the "biggest exit scam" ever on the crypto space.

In Singapore, a man who had fundamental promotion that lead people to join the "Onecoin scam" pleaded guilty on his is active involvement in a marketing campaign linked to the business. He used his influence to lure more than 1000 people to join the Onecoin scam and buy the educational package offered by the company and also promised them to mine more Onecoin to them in order to gain their trust and money. His reach out took even to more countries outside Singapore and lead to people lose millions of dollars .

The man now have to pay as fine, $72,000 due to his criminal activities under the law that penalize those crimes in Singapore, OneCoin crypto scam  defrauded billions worldwide, leaders on several countries made millions promoting this scam, some will face the justice but others will be free due to reach out of it that made difficult the authorities to find all "head leaders" involved and track the respective countries!

The man now convicted  it's an example that the law to fight back this kind of crime exist, and will be severe to the ones who still promoting fraudulent business to lure and impersonate people to join it and them run away with their money leaving them with nothing, and I hope many more scammers could be found and prosecuted due to their involvement in fraudulent business, they are stealing from people they deserve to be in jail!

I believe that any country should have the law "Multi level Marketing and Pyramid selling prohibition" that will defend uninformed persons about online business and same time protect them from being ripped money, no one deserve to be robbed.

Great Saturday and always make your research before investing, take care!

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**image from pixabay with no copyright infringement.

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