- OneCoin has been exposed as a Ponzi scheme.
- The Samoan Seventh Day Adventist Church in New Zealand is being investigated for money laundering with OneCoin.
Cryptocurrency is already a rather controversial industry, made only worse by the drama that surrounds it. Another story of money laundering has reached the market, coming directly from the Samoan Seventh Day Adventist Church in New Zealand. According to Behind MLM, the church has been caught in a massive money laundering scheme, involving the OneCoin Ponzi scheme. As a result, the SISDAC is presently being investigated by the Department of Internal Affairs in New Zealand.
Even though there have been no details provided about the investigation from the church or the DIA, Radio Zealand stated that the DIA is abiding by the Charities Act in their investigation. Furthermore, it is even more apparent that OneCoin was used in the process of money laundering by the church.
An individuals who attended one of the SISDAC meetings said that Willie Papu, a chief executive, told the church that they had engaged in a $NZ3.5 million investment with OneCoin, ensuring that the DIA investigation wouldn’t result in a complete loss of assets. However, it does not exactly evade authorities when all the church is essentially doing is laundering money and leading the country.
Though the SISDAC was approached by Radio New Zealand for comments, there were no other details on the comments made by Papu. However, the church indicated that the investigation with DIA was in the final stages. When the news was originally reported in April that scammers were trying to get around a ban imposed on OneCoin investment within Samoa, SISDAC had completely denied the allegations, saying that the church is involved, “but not us in Samoa,” according to Pastor Iafera Masipau.
As the investigation and other activities evolve, the idea that the church leaders are seeking personal gain through a Ponzi scheme is becoming more certain. Even though there are not any connections in the investigation right now between SISDAC and OneCoin, apart from money laundering, Behind MLM believes that there should be an authority investigating this relationship with more depth. Perhaps the publication is right.
OneCoin has also exposed their scam to multiple churches in Africa, which includes the OneLight Church in Uganda. To entice the church, OneCoin claimed that they would provide high returns that would change their lives, which was told to them directly by leader Konstantin Ignatov, which was ultimately arrested by authorities within the United States. While Ignatov was charged for wire fraud, he said he was not guilty.
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