After having $5 mln seized past times local law enforcement agencies together with constabulary inward Federal Republic of Federal Republic of Germany together with India, operators of OneCoin guide maintain teach to a greater extent than alert. The arrangement began to target German journalists including Friedemann Brenneis to extort a settlement.
On Apr 27, Cointelegraph reported that xviii seminar organizers of OneCoin were arrested inward India. Local constabulary commissioner Hemant Nagrale, equally good equally the local law enforcement, described the OneCoin lawsuit equally a “Ponzi system seminar.”
“Hence nosotros arrested the xviii people who had organized the seminar together with are investigating the illustration to describe the mastermind,” said Nagrale.
In an interview alongside Times of India, Nagrale farther noted that around $3 mln was seized from OneCoin operators together with their depository fiscal establishment accounts inward a serial of raids.
Prior to the crackdown of OneCoin inward India, a OneCoin satellite work solid was close downwardly together with penalized past times the High German Federal Financial Supervisory Authority (BaFin) for operating without a license. IMS International Marketing Services GmbH was fined alongside $2 mln for ignoring the warnings of the government together with local law enforcement.
Friedemann Brenneis, the High German journalist who reported the closure of the depository fiscal establishment accounts of IMS GmBH, was threatened past times the legal squad together with attorneys of OneCoin. On The Coinspondent, Brenneis revealed that he received a massive total of Abmahnungen, a written warning which demands targeted individuals to settle for a large legal fee to avoid a lawsuit.
He wrote:
“In the past times days, I guide maintain received legal letters from several (!) Onecoin lawyers that are extremely irritated nigh an article I guide maintain published. In this article, I was but pointing out ii publications past times BaFin (t.n.: the High German banking watchdog) concerning Onecoin. Concretely, the ii publications inward the department of "illegitimate business" are this ane together with this one. For legally tactical reasons I guide maintain taken the original article offline, fifty-fifty though all the non-Onecoin people I guide maintain talked to nigh them couldn't notice anything incorrect alongside it. Onecoin advocates, however, are known for beingness really sensitive nigh criticism. They react all the to a greater extent than fiercely for it.”
According to Brenneis, most of the media outlets together with journalists that guide maintain reported on the same incident took downwardly their articles due to the consistent threats of the OneCoin team. Although the publications allegedly sued past times OneCoin stay for certain their articles or coverage are fair together with transparent, Brenneis reaffirmed that the vast bulk of the publishers took their articles inward fright of potential lawsuits that could lawsuit inward larger legal fees.
Brenneis hasn’t taken downwardly the article yet. In fact, he is bespeak the community to fund his drive to examine the innocence of High German media outlets together with the fraudulent activities of OneCoin.
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