A resident of Meissen, Germany, has been ordered to repay a victim of the OneCoin fraud. This is the second time the man has lost a civil case, besides the criminal case that Bielefeld prosecutors are pursuing.
Meissen is a town of 27,000 inhabitants in Saxon, Germany. A resident of the town recruited a Bavarian citizen to be part of the OneCoin project. The Meissen told the Bavarian that he could place extra recruits below him. Initially, the Bavarian had three people under him. However, they soon went away. As a result, the Bavarian was left is possession of 6000 EUR of worthless points from the OneCOin project.
The Bavarian Decided to Act
Instead of staying silent with his bag of rocks, the Bavarian complained to the defendant. The Meissen then agreed that he would reimburse the Bavarian 3000 EUR. However, the defendant only sent 300 EUR before going silent. To add salt to injury, he sent the compensation in OneCoin points, which were worthless.
At this point, the Bavarian decided to sue the Meissen in court. When the case went before the court, the Meissen was not able to adequately defend himself. The judge was not convinced by his explanation.
The Meissen claimed that there had been 12 investors placed under the Bavarian. However, he failed to prove that this was in fact what happened. He could not produce any verification for the claim. Besides that, the judge admonished the Meissen for carrying out his scam via a shell company in the UK.
In the ruling, the court awarded the Bavarian his 6000 EUR investment. Besides that, the Meissen was fined 1800 EUR. This is the second time a case has gone against the Meissen. In the first case, he was fined 1200 EUR. He was then told he had to pay back 12,000 EUR.
In his defense, the Meissen who is sixty-one years old says he is bankrupt. He also claims that the OneCoin business is running poorly. Thus, he doubts that he will ever be able to pay off such a huge amount.
However, this is not the end of his problems; the prosecutors in Bielefeld have filed a case against him. However, it has been suspended to allow time for more investigations to be conducted.
The investigations by prosecutors in Bielefeld led to a raid on the offices on OneCoin in Bulgaria. Since that time, the investigations have expanded to include Ruja Ignatova, the founder of OneCoin as the main suspect.
The OneCoin Project
The project collapsed in 2017. Since then, Ignatova has essentially disappeared. No one has heard from him for months. The worst part of it is that he escaped with funds from investors. His brother, who was also a bodyguard has continued to string along investors. He is currently heading the company. As more cases like this continue to pop up with victories for victims, it will deter fraudsters from joining the crypto world.