The antitrust authority in Italy, Autorità Garante della Concorrenza e del Mercato – or the Italian Competitors Authority – has announced that it has actually embraced an interim injunction versus the activities of One Network Providers Ltd., the business which has actually been promoting OneCoin in Italy.
Is OneCoin A Scam?
This follows an examination released to assess the system developed and operated by One Network Providers Ltd. and its representatives in Italy to promote a program for OneCoin which they declare involves the acquiring of training plans “which ought to allow consumers to accomplish substantial financial returns, for example with an investment of 140 euros assures a return 2800 euros in 2 years.” We see a lot of One Coin reviews so even though we focus on SEO we think this is an important topic.
It says the investigation is as a result of reports received by the Commissione Nazionale per le Società e la Borsa, likewise known as CONSOB, the body responsible for controlling the Italian financial markets, and the CTCU of Bolzano- or the Centre Defense of Consumers and Users- likewise supported by findings of the Unique Unit Antitrust Guardia di Finanza.
OneCoin – Pyramid Sales
The notice, published this weekend, specifies that the evidence gathered so far shows that the representation of the advantages of OneCoin attracts the entry of a great deal of customers to make substantial financial investments in the plan which has been traced to a pyramid sales system that is restricted by law.
There have been several cautions versus OneCoin being a scam. A lot of people are declaring the companies new name as Onecoin scam not Onecoin!
A number of associated relocations have actually been made and cautions issued in the past in other parts of Europe.
In July, Belgium’s Financial Providers and Markets Authority, also known as FSMA, warned the general public to be careful of activities related to OneCoin stating the scheme has not received authorization or any kind of acknowledgment from the regulatory body. In addition, the United Kingdom’s Financial Conduct Authority mentioned OneCoin as a risk to customers.
German regulators began looking into OneCoin. The German newspaper Der Spiegel reported in June that the monetary regulatory body Federal Financial Supervisory Authority (BaFin) had actually opened an investigation into this too.
OneCoin – Directory Concludes
In the notification released by Italy in which it charged that “none of the specialists involved in the procedures provided explanations and adequate defenses to understand the probability of the guaranteed outcomes, as well as on the performance of the system promoted,” all activities to the promotion and dissemination of OneCoin as well as training plans connected to it are suspended as a precautionary procedure perhaps to restrict the damage to consumers pending the conclusion of the examination.