FACTS about OneCoin by EagleOne user

Here we will post all original accusations and arguments people who hate onecoin wrote all over blogs and comments. We will deeply analyze, dissect and answer everything with objective arguments. People will be left to decide which arguments are more logical and true to them
Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Fri Aug 11, 2017 2:20 am

Not fake, it is expected and nothing new in the MLM industry.
I already updated Italy topic with it:

UPDATE August 10 2017.
Seems like August 2017 is a "fine spree" for AGCM :)
Image

Onelife was not missed by this "fine spree" because:
The Authority had initiated a proceeding against One Network Services Ltd. And three physical people in their quality of the registrars of the promotional sites onecoinsuedtirol.it, onecoinitaliaofficial.it, onecoinitalia.com. (See press release of December 30, 2016) and suspended the activities related to the promotion of said cryptomoneta
We can see that some investigation about this case was continued after issuing those suspensions described in above text.
Indeed, the most substantial part of the revenue generated by the activity promoted by professionals would result not so much from the purchase of the OneCoin virtual currency, but rather from the payment of the shares that consumers are called upon to pay when they join the system.
It is clear that since this is Pyramid sales department of AGCM they are worried not so much about promising high returns from Onecoins (cause also mainstream media does regularly about Bitcoin), but they were focused on the fact on payments people needed to make to join the system. I personally have no clue what they are talking about cause you can join Onelife without even paying anything, just open Rookie free account and start selling. If you sell education or other products, it is ok to earn some money along. It is MLM
To reach the earning target, they seem to be required to recruit other consumers. These behaviors appear to be related to the dynamics typical of pyramid sales.
Wait, if I want to earn my target profit from compensation plan I need to recruit people? Not true. You can earn money if you sell a bunch of education or other products to end users, with zero recruitments. Seems like the problem here is that those IMAs practiced recruitment only model and the company Onelife did not respond to the Italian authorities so this investigation ended with Verdict and a fine to Onelife company too:

This is a link to the original verdict.

Let's quote what it says:
The Verdict wrote:The Competition Authority, at the conclusion of its inquiry, found that the methods used by One Life Network LTD with the help of other professionals to promote the purchase of the OneCoins Virtual Coin and training packages sold in conjunction with.
This was incorrect from the point of view of the information provided to consumers about the characteristics of the product and its pyramid sales system. The practices in question ceased in Italy following the suspension measures adopted by the Authority prior to ONE NETWORK SERVICES LTD and the registrants of onecoinsuedtirol.it, onecoinitaliaofficial.it, onecoinitalia.com, and then on the companies ONE LIFE NETWORK LTD, Easy Life Srl
It is clear that authority holds Onelife company responsible because their IMAs were promoting misleading material that promised to cash out Onecoins in 2018 and also only focused on recruitments of new people in order to earn money and that does look like a pyramid.
This was breaching of Onelife ToS:
Onelife ToS wrote:- An IMA may not make any claims, promises or other indications about potential speculative changes in exchange rates.
- The client should not be led to purchase the products through dubious and/or misleading promises nor by promising special benefits when these are linked to uncertain future outcomes.
(15) IMAs may only market ONELIFE NETWORK system and services or recruit new IMAs in those states and countries officially authorized by the Company.
(16) IMAs are always prohibited from selling their own marketing and/or sales documents to other IMAs or from otherwise distributing them
Maybe this ToS did not exist when Italian IMAs in this subject started working so maybe this is why the company is held responsible for them.
The Verdict wrote:In particular, the promotional activity was centered on the promise that the consumer, after acquiring a training package, could obtain OneCoins (through a process of transforming the rough currency called mining) and that later those virtual coins would have increased the Their value as a result of their dissemination, all the elements that they did not find in the course of the proceedings. One Life's business proposal was therefore based on a false, high-profit prospect: for example, the purchase of the $ 27,530 package would have allowed a value of € 3,000,000 after just two years of joining the program.
Here we can see that high return of sales was promised to people. It's not a secret that Onecoin is not publicly traded, it is in ICO state.
It is true that $27530 packages will yield Onecoins that have an internal value of $3 million and that WILL be their value once ICO finishes but the company DOES NOT promise to cash out those coins. The focus is mostly on the usability. Public trading will determine the real value.
Seems like their promotional material was too much optimistic about selling the coins at this price.
The Verdict wrote:The procedure has enabled the Court to ascertain whether the practice was incorrect in relation to the deceptive modalities in which the features, terms and conditions of the proposed product were proposed, and whether the system incorporated a pyramid sale referred to in the Consumer Code Commercial practices in any case misleading.
If they read Onelife T&C they would see that it is not the pyramid system. But maybe they refer to the T&S from the Easy Life Srl and onecoinsuedtirol.it, Onecoinitaliaofficial.it, onecoinitalia.com
The Verdict wrote:Therefore, in the light of the numerous evidences gathered thanks to the valuable collaboration of the Antitrust Special Department of the Guardia di Finanza for the conduct of numerous investigative investigations, the Authority concluded the proceedings by imposing sanctions against the companies ONE LIFE NETWORK LTD (€ 2,000. 000), ONE NETWORK SERVICES LTD (€ 500,000), Easy Life Srl (€ 80,000), as well as with the registrants of the onecoinsuedtirol.it sites, Onecoinitaliaofficial.it, onecoinitalia.com. (€ 5,000 each).
So with numerous evidence investigated on marketing material and mentioned websites (they never mentioned onelife.eu and T&S on that web site) authority put out fines for Onelife company and also EasyLife SRL probably owned by verdict IMAs.

CONCLUSION:
Onelife IMAs who owned a company EasyLife SRL, web sites onecoinsuedtirol.it, Onecoinitaliaofficial.it, onecoinitalia.com also marketed promotional materials of their own. Those promotional materials did not follow Onelife T&C guidelines but were focused on promising the sale of Onecoins in 2018 and also were putting recruitment of other people being a pyramid system indeed. So the company is being held responsible for their actions and it also got the most of the fine.
It is clear that Onelife T&C is not a pyramid sales system. Also at Onelife events that I followed and watched, if persons were summoned to the event for the first time they are being presented Onecoin concept and how to participate ICO, and no one is mentioned MLM system or recruitment, simply how to buy education and participate Onecoin ICO. Later on, on the follow-up, some people are also being presented an opportunity to spread this info further. That is how MLM works. But since the Onelife company did not respond to the authorities, they could only work and rule with the material obtained by those IMAs so it is totally normal that the company receives a fine.


It would not be the first time that a big MLM company receives a fine and moves on reorganized:
Herbalife paid $200Million fine because their leaders were promising unreal profits. One of the articles from Fortune.com is here. Wait, why did fortune.com did not write about Onecoin?

Also, Amway did not miss the chance to pay $25Million fine. So what happened to them?
The article is here.

EagleOne
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Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 14, 2017 9:04 pm

So let me see if I have this straight. OC/OL is claiming that One Network Services, Ltd, is a third party and not a subsidiary of OC/OL. Really?

Hmm, back in 2015, before OneLife was born, OC affiliates were buying their "educational packages" from OneCoin.eu in 2015. Those bank wires were directed to....One Network Services, Ltd.

One Network Services, Ltd. is the company according to Eurid WHOIS registered the following URLs:

oneacademy.eu
oneworldfoundation.eu
onelife.eu

Third party? Not a subsidiary? Sure they're not. :D

Last edited by EagleOne on Sat Nov 11, 2017 12:11 am, edited 1 time in total.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Mon Aug 14, 2017 9:29 pm

I can not answer that to you, you need to ask them. But it can not be subsidiary cause it is an older company.
That is their official response to the authority and we can not debate it, we can not question it cause they will need to prove those claims to the authorities.

EagleOne
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Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 14, 2017 11:31 pm

What do you mean we can't question it? Of course we can. OneCoin said they weren't a subsidiary when they clearly were. You do not have any entity that is not a part of your organization taking money for the organization, nor do you have them registering domain names for you.

OneCoin lawyers are going to be really busy filing charges against the German authorities and now claiming to be doing the same for the Italian authorities. What a joke. They aren't suing either one. All for show for the faithful.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Mon Aug 14, 2017 11:45 pm

They can not sue authority :) They can only file a complaint :)
Why do you ignore the fact that the company, being it one network or onelife network did not enforce such pyramid sales independently performed by those 3 guys from their web sites and their own marketing material? You are making a distraction from real important facts by holding to this stupid argument about independent. It looks like the company wants to wash itself of the mud but that is not the case, cause it did not produce any just like bitcoin is not to blame because of this UK police action.

EagleOne
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Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Tue Aug 15, 2017 12:53 am

Want to take a wild guess as to where One Network Services, Ltd is located? I'll give you a hint...it starts with a B and ends in ulgaria. If I am not mistaken, the owner's name is Veska Ignatov.

Also odd that for a company that is not a subsidiary or has nothing to do with OneCoin, was the entity that all the Norway, Sweden, and Finland affiliates used in 2015 to send their money to OneCoin. I am sure that was just a coincidence too.

As for suing, OneCoin was the one who said they were going to sue the German and the Italian authorities. Ask them why they made that claim.
Last edited by EagleOne on Tue Aug 15, 2017 2:02 am, edited 1 time in total.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Tue Aug 15, 2017 1:30 am

Sorry not gonna comment on that official press release, it is clear, that know better than us if that company does or does not deal with mlm selling. They told that to the authorities and let them prove it.

I never heard that onecoin is going to sue italy and germany. Please provide some proofs / link / video

EagleOne
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Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Tue Aug 15, 2017 2:19 am

Remember when BaFin told Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize to dismantle their internet based “OneCoins” trading system and to end all sales promotion activities in Germany immediately? Well guess who else they named at the same time in their order?

Yep, you guessed it, BaFin issued a cease and desist order against One Network Services Ltd, Sofia/Bulgaria for their involvement in the unauthorized trading of “OneCoins” by Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize.

Sure glad that One Network Services, Ltd isn't affiliated with OneCoin.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Tue Aug 15, 2017 2:38 am

Germany is a different story, they recognized Onecoin as a financial instrument and demand a financial license so they issued cease and desist for everything. One Network Services is not a subsidiary. The subsidiary is a company controlled by a holding company. One Network Services is a company prior to Onecoin and Onelife. It registered domains, maybe was used as a payment gateway back in 2015. We do not know. I do not want to speak about what I know. Unlike you.

Italy made a verdict because of pyramid like sales model (only recruiting) and promising high profit from Onecoins by several Onelife affiliates via their own web sites and marketing material.
That is the point of "the third party statement" cause One Network Services can not be held responsible for Onelife IMAs since it is not involved in MLM business.
You make an elephant out of fly just to ignore the fact that Italy made an invalid verdict for the company just because some leaders made their own material and websites totally opposite of Onelife policy. This way I can make a web site coca-cola-cancer-cure.it and sell coca cola for 100EUR per bottle advertising it cures cancer. Some idiots will believe me and pay. When the word spreads, I will be cut down by the authority.
Will Coca Cola company be responsible for my actions?
The same can be said by any MLM company, Take that example into Herbalife shakes.
I mean I understand you pointing out real red flags about Onecoin ICO but dude please, making an elephant out of a fly every time some Onelife IMA makes problems is so cliche.

CryptoXpose
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Re: FACTS about OneCoin by EagleOne user

Post by CryptoXpose » Tue Aug 15, 2017 9:35 am

Italy made a verdict because of pyramid like sales model (only recruiting) and promising high profit from Onecoins by several Onelife affiliates via their own web sites and marketing material.
That is the point of "the third party statement" cause One Network Services can not be held responsible for Onelife IMAs since it is not involved in MLM business.
You make an elephant out of fly just to ignore the fact that Italy made an invalid verdict for the company just because some leaders made their own material and websites totally opposite of Onelife policy. This way I can make a web site coca-cola-cancer-cure.it and sell coca cola for 100EUR per bottle advertising it cures cancer. Some idiots will believe me and pay. When the word spreads, I will be cut down by the authority.
Will Coca Cola company be responsible for my actions?
The company implys huge 27 000%+ level profit with for example Power Pack. That has nothing to do with IMAs.
Your excuse is "but the company doesn't promise you can cash out".

I don't think authorities see it like that. They see that the company announces a value for the coin, and by buying a package you'll get certain amount of coins. It gives a strong impression of profit to which many people fall for.

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