OneCoin lawyers win removal of pyramid warning from UK regulator

Britain’s Financial Conduct Authority (FCA) removed OneCoin’s pyramid warning from its website under pressure from lawyers, according to the authors of the BBC Sounds podcast The Missing Cryptoqueen.

We’re BACK!

The story is even crazier than we thought.

Episode 9 of The Missing Cryptoqueen coming soon… #cryptoqueen @GeorgiaJCatt

Trailer here:https://t.co/HeOxO4BnhM

— Jamie Bartlett (@JamieJBartlett) July 29, 2020

Journalists Jamie Bartlett and Georgina Cat met with lawyer Gary Gilford, whom representatives of OneCoin hired to set up a London family office to manage the assets of the project’s founder, Ruja Ignatova.

According to him, former spy Frank Schneider, a OneCoin partner, engaged the law firm Carter-Ruck and reputation-management company Chelgate to pressure the FCA.

Once the warning about potential fraud disappeared from the regulator’s site, OneCoin’s representatives used it for a PR campaign. For many victims, this became a convincing argument in favour of the pyramid, Bartlett said.

The FCA said it does not regulate crypto assets, and therefore did not take up the OneCoin case.

Read more about the Bulgarian pyramid via this link.

The scam of the decade: how a doctor of legal sciences organized the OneCoin pyramid and disappeared with billions of euros

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