This one flew under the radar, but turns out back in April Finand’s National Bureau of Investigation launched an official investigation into OneCoin.
According to media reports, the NBI began investigating OneCoin after “many citizens contacted police” about the scheme.
For those unfamiliar with the agency,
Finland’s NBI
is a nationwide division of Finland’s national police.
Its primary mission is to combat international, organized, professional, white-collar and other serious crime.
In conducting their investigation, the NBI are looking to answer whether or not OneCoin is a fraudulent pyramid scheme.
Given
OneCoin’s Ponzi points business model
, I find it hard to believe they won’t.
Being a regulatory investigation we have no timeframe as to when the NBI might conclude their investigation. But we do know that upon its conclusion, the agency will then decide whether or not to take further action against OneCoin in court.
As of May 25th, the NBI investigation is ongoing, with Central Criminal Police Detective Ari Karvonen informing Ilta-Sanomat that “the case is (still) in the study phase”. According to Karvonen, the threshold for instigating legal action against OneCoin “has not yet been exceeded”.
Police are still currently familiarizing themselves with information about OneCoin, after which decisions about the investigation moving forward will be made.
Nothing further has surfaced regarding the NBI investiation into OneCoin, with it assumed to be an ongoing case.
Stay tuned…
Update 31st October 2015 –
Finnish authorities have released a statement clarifying that the results of their report into OneCoin will be released next Wednesday.
The statement was
issued
by the Finnish National Bureau of Investigation on Twitter a few hours ago:
Original:
OneCoin-virtuaalirahan selvityksestä tiedotetaan ensi viikon keskiviikkona #krp
Translation:
OneCoin-the virtual currency report will be informed on Wednesday of next week #krp
Stay tuned…
🤖 Quick Answer
What investigation did Finland's National Bureau of Investigation launch regarding OneCoin?Finland's National Bureau of Investigation initiated an official investigation into OneCoin in April following multiple citizen complaints about the scheme. The NBI, a nationwide police division specializing in organized crime and serious offenses, is examining whether OneCoin operates as a fraudulent pyramid scheme based on its Ponzi points business model.
Why did Finland's authorities begin investigating OneCoin?
The investigation commenced after numerous Finnish citizens contacted police with concerns about OneCoin. These complaints prompted the National Bureau of Investigation, responsible for combating international organized crime and white-collar offenses, to formally examine the cryptocurrency scheme's legitimacy and operational practices.
🔗 Related Articles
- Brent Willis settles NewAge fraud with SEC for $175,000
- FFST Group Review: “Placing orders” click-a-button Ponzi
- 30 Day Success Formula scammers convicted of fraud
- Quantex securities fraud warning from UK
- $260,575 worth of weed found in Herbalife meal shake tins