German prosecution launches fraud probe into OneCoin and Hungary sets up task force

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Several days after the German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order against the OneCoin MLM scam, sate criminal police prosecutors from the North Rhine-Westphalia and local investigators of the city of Bielefeld, have opened an investigation.
According to the German newspaper Süddeutsche Zeitung, the investigation is against seven employees of the Bielefeld-based company IMS International Marketing Services GmbH, which was processing the payments of the German “investors” in OneCoin. The probe is for fraud and violation of the German payment systems regulation.
Meanwhile, the Hungarian c-bank Magyar Nemzeti Bank (MNB), has set up a task force to take “joint actions against certain elements of the alleged pyramid scheme OneCoin virtual currency”.




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