One former investor of a suspected ponzi scheme, OneCoin, is seeking repayment for losses sustained as a result of the scam. Christine Grablis has officially filed a lawsuit in the United States District Courts against both OneCoin and its founders. Grablis is claiming that she was tricked into investing $130,000 in the fraudulent multi-level marketing scheme in 2015.
OneCoin has come to be well-known as a ponzi scheme that targets individuals across the United States, Europe and Asia. The scheme promises attractive financial returns for those who buy tokens to become a participant in its mining pool and promote the OneCoin to their acquaintances, friends and family.
OneCoin claims to be the owners of a fully functioning blockchain and unique type of cryptocurrency. Neither of these have ever been proven to actually exist. Despite this fact, the scheme has still managed to work well enough to accumulate over three million registered users since its launch and has collected over $4 Billion USD from investors.
The company was founded in 2014 by a Bulgarian woman reportedly going by the name of Ruja Ignatova, along with her brother, Konstantin. Both were recently charged by United States authorities with attempted wire fraud, money laundering and securities fraud, according to a report published by Bloomberg. Konstantin was placed under arrested last month in Los Angeles by local authorities, however his sister has yet to be apprehended.
Over the past two years, over 100 promoters of the scheme have been placed under arrest in China, India and Singapore as global authorities team up to put a stop to the scam.
The Grablis et al v OneCoin Ltd class action lawsuit also includes Mark Scott and Sebastian Greenwood. These two men were said to have been involved in helping to launder stolen funds by way of offshore hedge funds and serve as the public face of OneCoin. Christine Grablis has hired the Silver Miller law firm to represent her in the case. The firm will also be representing other victims of the same scam.