Onecoin Scam Halted In Italy
The Italian Competition Authority has halted One Network Services Ltd. sales activities, the company which has been promoting the OneCoin scam in Italy.
This follows an investigation of the One Network Services Ltd. system and its representatives in Italy. These representatives promoted the program for OneCoin which they claim involves the purchasing of training packages “which should enable consumers to achieve significant economic returns…”
Here is what the Italian Competition Authority had to say:
PYRAMID SALES: SUSPENDED IN PRE-TRIAL PROMOTION CRIPTOMONETA ONECOIN
The Antitrust Authority, following the opening of a preliminary investigation, it adopted an interim injunction against the company One Network Services Ltd., active in the promotion and dissemination of criptomoneta OneCoin, and the two individuals who had registered sites connected to it onecoinsuedtirol.it and onecoinitaliaofficial.it (the third onecoinitalia.com following the start has been overshadowed).
The investigation, which has originated from reports received by Consob and by the CTCU of Bolzano, corroborated by some preistruttori findings of the Special Unit Antitrust Guardia di Finanza, it is time to assess the unfairness of the system designed and operated by One Network Services Ltd. and its representatives in Italy. This system would seem designed to promote adherence to a program of dissemination of criptomoneta OneCoin – linked to the purchase of training packages – which should enable consumers to achieve significant economic returns (for example with an investment of EUR 140 promises a return 2800 Euros in two years).
From the evidence gathered so far shows that the representation of the advantages, as well as highly random, both in functional reality to attract the entry of a large number of consumers, who are required a significant economic investment, tracing a pyramid sales system prohibited by law .
In the face of evidence that demonstrate the relevance and diffusivity of the promotion of “criptomoneta OneCoin”, none of the professionals involved in the proceedings provided explanations and adequate defenses to understand the likelihood of the promised results, as well as on the functioning of the system promoted. Because of the adoption of the precautionary measure, in order to limit the damage to consumers pending the conclusion of the proceedings, the professionals will have to suspend any activity to the promotion and dissemination of criptomoneta OneCoin as well as training packages linked to it.
Rome, December 30, 2016
– Source agcm.it