A cryptocurrency scheme operating out of Mauritius is funneling money through precious metals investments, according to documents uncovered by local investigators.

The Mauritian Independent Commission Against Corruption has been looking into OneCoin since March. Last week, anti-fraud activist Cangayen Pillay filed a formal complaint against the company, claiming he's spent decades fighting the Ponzi operation.

L'express investigation reveals how the scheme works on the island. Two companies—Be More Global Ltd and its subsidiary SAS Capital Ltd—serve as the operation's base. Jean Philippe Galle runs both entities on behalf of owner Serge Legrand. Galle is a top OneCoin leader and member of One DreamTeam, a major downline recently abandoned by the Steinkeller Brothers.

OneCoin recruitment events happen regularly at BMG's offices. Through SAS Capital, the operation pitches precious metals investments to potential marks.

One woman interviewed by L'express described being heavily pressured by Legrand to invest 5,000 euros in rare earth products. He promised a 20 percent return over five years and even drafted a contract under her name. When Galle separately approached her asking for 5,000 euros to buy OneCoin, she decided the whole operation looked suspicious and walked away.

The precious metals angle uses two intermediaries: French company Metallion and Hong Kong-based ACK Consulting Ltd. According to its website, Metallion trades "high-tech materials, strategic metals and rare earths." The domain was registered just last July. ACK Consulting was incorporated in November 2013 and has virtually no online presence.

Despite their thin profiles, BMG placed a 10 million euro order with Metallion for indium, dysprosium, and neodymium. No one can explain where the money came from or what role ACK Consulting plays in moving it.

When L'express asked Galle and Legrand to explain themselves, neither responded. Legrand refused comment. Galle said he's out of the country.

Pillay, the complainant, is calling on the government, the Financial Services Commission, anti-corruption officials, and police to act. SAS Capital holds a Global Business license from the FSC, and Legrand maintains a Mauritian residency permit. The question now is whether regulators will shut down the operation before more money leaves the island.

🤖 Quick Answer

Is OneCoin operating money laundering schemes through precious metals investments?
According to Mauritian investigators and documents uncovered by L'express, OneCoin allegedly funnels cryptocurrency scheme proceeds through precious metals investments via two companies: Be More Global Ltd and its subsidiary SAS Capital Ltd, both managed by Jean Philippe Galle under owner Serge Legrand's direction.

Who initiated the investigation into OneCoin's activities in Mauritius?
The Mauritian Independent Commission Against Corruption began investigating OneCoin in March. Subsequently, anti-fraud activist Cangayen Pillay filed a formal complaint against the company, citing decades of experience combating the alleged Ponzi operation and fraudulent scheme.

What is the organizational structure of OneCoin's Mauritian operation?
The scheme operates through two interconnected companies: Be More Global Ltd and its subsidiary SAS Capital Ltd. Jean Philippe G

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