USA Judge Approves Lead Counsel In $4B Class Action Suit Against OneCoin

  • July 26, 2019
  • By Team Business For Home
USA Judge Approves Lead Counsel In $4B Class Action Suit Against OneCoin

A New York’s federal judge has announced his decision of appointing Levi & Korsinsky and Silver Miller as the lead counselors of the $4 billion class action lawsuit against the cryptocurrency Ponzi scheme OneCoin, in which Donald Berdeaux was appointed as the lead plaintiff of the suit.

The securities lawsuit alleges that OneCoin was a fraudulent investment program which hid behind the use of technical sophistication and fancy jargon, and thus led falsely informed investors to believe that the cryptocurrency had any actual value.

The class action lawsuit further claims that the OneCoin digital coins were being automatically generated solely based on the need of investors; however these were not only fake but didn’t even exist on a blockchain network, as essentially any real cryptocurrency works.

Prosecutors have already charged the self-proclaimed “CryptoQueen” Ruja Ignatova and her brother Konstantin Ignatov (who has pleaded not guilty) with multiple counts of fraud.

Other people that have been labeled in the lawsuit were another OneCoin co-founder, Sebastian Greenwood, and the former lawyer of Locke Lord, Mark S. Scott, who was arrested in 2018 and is indicted for a money laundering conspiracy charge.

U.S. District Judge Valerie Caproni has inquired as to why Donald Berdeaux, who was appointed this month as the class action suit’s lead plaintiff, has missed his July 19 deadline to seek lead counsel approval and ordered him to show cause as to why “this case should not be dismissed for failure to prosecute.”

Having lost $755,000 to the suspects behind the fake cryptocurrency OneCoin, Berdeaux has filed for lead counsel along with submitting a brief claiming that the final versions of the motion had already been ready by the 17th of July, while mistakenly believing the deadline is on July 19th.

The judge warned the attorneys from Levi & Korsinsky LLP and Silver Miller for failing to comply with the court’s orders and deadlines after having approved Berdeaux’s lead counsel picks.

Furthermore, the judge advised against the act of duplicate work from the firms, rejecting a bid for Berdeaux to co-lead the case with Christine Grablis, who was the original filer of the proposed class action.

In her ruling, Judge Caproni only appointed Berdeaux as lead plaintiff, claiming she was uncomfortable with the the virtually nonexistent relationship between Grablis and Berdeaux. Her ruling was also based on the fact that Berdeaux had suffered more investor losses that dwarf Grablis’ own financial damage.

Berdeaux now has until August 2nd to file an amended complaint reflecting his lead plaintiff appointment while the defendants, who have yet to make an appearance in the case, have until September 6th to respond to these huge allegations.

David Silver, an attorney for Grablis, told Law360, a news agency that initially reported on the court’s decision:

“As cryptocurrency scams go, OneCoin earns its place on the Mount Rushmore of investment schemes, both for its size and for its audacity … they sold cryptocurrency that never existed, from mining farms that never existed, on a blockchain that never existed — and they managed to steal $4 billion from investors in the process.”

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Comments (78)

  1. From the beginning OneCoin always felt like a scam, a huge ponzi, so grateful I never participated, just feel so sorry for those unfortunately taken in by the hype 🙁

    2. Are you have been confirm. KYC ?

      If you pass KYC then you will earning later when they time ready public very soon ok but no need put negative

      You will be fine no worry about lost youeill getting the money ok

    4. The problem is worldwide. .Come to Italy, Onecoin /onelife sites had been closed by the government’s militarised body (Guardia d’Finanza )

      1. I don’t think so Italy closed by government but onecoin still gohead and keep going … won’t closed it

        Where you hear that come from by Italy but if you heard gossip from the person negative but don’t listen them ….

        You listen our onecoin membership conversation not negative people take notice it

        They still ongoing by Italy not yet closed ok
        Thanks

  3. Most of the employees knew probably from from the beginning all the top management should go to jail for a long time and all their assets houses should be confiscated .specially the bitch Dr Ruja. We lost about $45000

  4. Some of the top leaders also made millions knowing how it was organised and deceiving people into investing in something that had nothing behind it, and like any ponzi scheme, grew only because new people were investing (wasting) their money.
    These ponzi schemes and deceptive leaders are giving legitimate Network Marketing business a bad name.

  5. I cannot speak for other people but onecoin sold me an education package I have since got involved with crypto currencies, I am now trading and although as yet there is no exchange for cash directly for the coins I have acquired. There has been opportunity to use them on dealshaker. My account is fully accessible.
    It seems to me the problem lies within the U.S.
    Only time will tell but so far I have gained more than I have lost, as yet nothing has actually been lost as the coins were acquired as an option and I have received education.
    I think main think that I have discovered after the education in the past 2 years is the shear absolute hatred towards crypto’s in general from the U.S.A.
    I have since been led to believe that people from the U.S.A cannot access there accounts I don’t know how true that is but here in the UK
    I don’t have a problem which really leads me to suspect something else is going on here.

    2. Dave thank you my One life brother for your comment wow it was really encouraging for me to see that there are people they benefit from one coin…here it is about attitudes. .please if you want contact me on +447459148215

      Have so much to share about my good experience too???

      1. I invested $8000 and never could get KYC confirmed so I cannot access my funds in any way. I’m in US too so am hoping to get in on a class action lawsuit against OneCoin.

  7. NORWAY SCAMMERS. Aksel Sindre Farstad, Bjorn Olav Granli And Pal Nordby!

    This is beyond criminal activity. And if I had lived in Norway, I would walk over to the police with this scam documents.

    With not being the best translator, using Google translate, this simply states that Aksel, Bjorn and Pal (think Franchisee holder Dealshaker Norway) are selling closed Onelife and Onecoin accounts and ONE coins to people in Norway for a shit load of cash. I have come over several pages of contracts from 2018 and 2019, where ONE is being sold, reaching sums up to 1 million NOK in some cases, where they simply transfer ownerships and coins from OneLife “users” to other “users”. How that is even possible is beyond my comprehensions! These people will soon get a visit from Norwegian police. I would assume that Onelifes Sofia office is fully aware of this shamble since usernames and “alleged” coins are supposed to be assets of users and not anyone else in a real blockchain. You cannot transfer coins from someone’s wallet to another as you want. This just confirms the magnitude of the ONE scam, and it is now being kept going by the people above in Norway. I seriously doubt that others are aware of this. Oslo Courthouse, here we go… Hope that once and for all that members in this group and everywhere else wakes up and smell the shit!

    https://www.dropbox.com/s/dkofy517fyfimdd/IMG_1736.JPG?dl=0

    https://www.dropbox.com/s/hbix3wpnvk0rc4c/IMG_1735.JPG?dl=0

  8. I am from a small group that did not lose as much as others that I’ve read about. Don’t have the money for even attorneys fees that would cost more than my entire group invested, but is there a possibilityloKoop of trying to see if we can get our investment or should I call my friends and tell we have been ripped off? We were introduced back in 2014 by 2 Americans from California that travelled to Bulgaria met Dr. Ruja Ignatova and were the exclusive duo that brought it back to the US.

  9. Somehow I believe US is not honest n hv ULTERIOR motives…..also the banking world is scared cos it would all eventually collapsed if this efficient One Coin gains momentum n success.

    1. I am also victim of One coin contact me if any one help me to recover my investment, i am very much hopeful that One day i will be able to get back my investment +92321-4119841

    2. This statement makes no sense at all. If it were true all cryptocurrency would be unfavorable in the US. That could not be more from truth. It’s fake cryptocurrency such as Onecoin that has no real blockchain that’s the problem. Real cryptocurrency is alive and well in the US. The reason Onecoin was banned in the US is because it violated MLM laws. The same laws many other countries have. Onecoin is built on a pure and simple Ponzi scheme nothing more.

  10. I and my team members lost $100,000
    If there is any way we can get our money back and also their office in Dubai should be shot down..I will really appreciate.

    1. Hey everyone please listen to me very careful. All these who are commenting negatively about onecoin are they really enemies of the system. But one thing I know that is onecoin not a scammer. Please minimize your criticisms. Onecoin will definitely favour us and all our enemies will be silence forever. Thanks

  11. Honestly speaking I think the lawsuit is premeditated. We must ask our ourselve why a company like Onecoin received so many attacks eventhough its ecosystem which has a KYC compiiance was said to be the best crypto on the existing market. The attack on Onecoin is just the same as US attacks Huawei.

    If Onecoin is a fraud I would have not able to use my coin to purchase merchandises from merchant’s platform – Dealshaker. I buy things from Dealshaker and sell them off for cash in return.

    Gablis and Berdeaux both are paid to carry out the law suit – I think so.

  12. I and my team members lost $100,000
    If there is anyway we can get our money back and also their office in Dubai should be shot down..Thank you

  13. Well I for One would like to talk with the people in charge of the class action lawsuit. My dad passed in January and have looking for these people. My dad invested a lot of money and was talked out of his bitcoins.
    If there is anyone that can point me in the right direction I would greatly appreciate it.

  14. STUDY WHAT YOU PAID FOR…?
    Financieel Education….
    And prepare FOR a Financial Revolution….
    Thats it…
    People don’t know….what they don’t know…
    The future belongs to those who… ?

  15. I invested some as well but which i know compny is going in exchange soon only problem in usa compny is still there acutely bit coin mafiya is doing attack on one coine they know if one coine came in market bitcoin will be fuked and dollar will be effect as well be positive and wait till october your investment never will be loose i hope i will must get back my investment company is still opend working for final stage for exchange and now compny only spending not earning if its scams compny must gone closed but they didn’t theny compny spending for?they must close office and gone disappear but didn’t there for dont believe to usa they are looking theire loss thuswy amrica doing work against one coine i have still hope one coine will must will be exchange soon

  16. I think one coin is getting attacked more than any other coins because if they are getting listed it will definetly affect some top coins. So someone is trying to stop them from the beginning. But truth will win always.

  17. Onecoin had never been a scam from day one. 5 years now and it is growing stronger and stromger. Now dealshaker merchants over 210 countries are accepting onecoin . One day it will be bigger than alibaba. I am glad that I bought the oneacademy packages. When the price iwas still low. Those who shouted scam are following scammers who are haters of one coin. Onecoiners who follow them are completely in dark and don’t understand onecoin eco system and it’s vision. To scammers….you bought educational packages and there was never a promised of great return. Those who sold you those packages might had misinformed you.

  18. Here in Uganda we are just there. It is almost a year when we last saw one coin leaders. I can’t express how l fell after investing a lot my money hoping a new face out of one coin. Am going to be patient and in the worst remains the worst, l shall mobilize fellow investors here in Uganda and neighbours whom l know in DRC and Kenya to try on anything we can do.

    1. Your lying am in Uganda too our leaders a very active training people everyday and offices a open from Monday to Saturday. Why do you hate onecoin like that . Shame on you

  20. We are yet to see the fate of haters. For those who call other crypto competitors scams how legit are they ? And which crypto currency is fully supported by USA against the Dollar dominance . Well it’s 4 years now since I invested in this Onecoin and am very strong and I blv the wave for the right crypto currencies is going to wash away ignorance and hatred . The legitimate cryptos will be seen .

    1. ONECOIN s? thành công, s? v??t qua th? thách t?i M?. Các B?n hãy th?c s? tìm hi?u k? h?n và tin t??ng ?? làm nên k? tích. Nh?ng ??i th? c?a OC ?ang mu?n làm cho nó ch?t, nh?ng chúng ta là nh?ng ng s? h?u OC hay cùng nhau v?ng tin vì s? th?t s? tr? l?i chính xác trong n?m nay 2019!

  21. Onecoin is indeed a scam. It has been from the very start. It was shut down in the US because it violated MLM laws. Laws made to protect people from these types of scams. There is no dark covert reason it’s illegal in the US. There is no real blockchain either. You can’t double coins like they did in a real blockchain. The founder has gone into hiding, several countries besides the US have banned Onecoin and raids have happened at several Onecoin offices. If you think this is normal operation for a company then your are not too smart. I am an investor myself and I know I will never see my return on investment. If you think you will, get your head out of the sand. It’s not going to happen.

  22. You are in those stupid pakis who always dreams about money! Everyone says one coin is a scam and the most top leaders already left onecoin but still there are so many stupid dreamers and cheaters like you guys on the platform
    Scuuum

  24. All USA coin company want to destroy Onecoin because it running in EURO , but they dont have founder or Office of their BITCOIN. ONECOIN have KYC system. And popular in Asia, Europe and
    Onecoin for

  26. Onecoin is Cryptocurrency for the people.
    Working well with all other country . Will help bring the bank to the unbank by using phone just transfer fund in area like India, Africa, Asia and the Pacific . The main thing is need to training your people in the system.

  28. Onecoin is the best cryptocurrency in the world. Only witch I, know believer is a achiever.Always we must be positive. Devil is always follow the people who believe n fallow the ALMIGHTY GOD.

  29. That’s why dagcoin gains popularity from onecoin, Dagcoin came with exact business structure of onecoin but doing what one coin failed to do,, it runs on its own Dagchain technology which makes transactions fast and cheaper than BROCKCHAIN, the coins are used every where as payments and exchanged on swipex.
    All in all dagcoin solving what one coin failed to fulfill..

  30. That’s why dagcoin gains popularity from onecoin, Dagcoin came with exact business structure of onecoin but doing what one coin failed to do,, it runs on its own Dagchain technology which makes transactions fast and cheaper than BROCKCHAIN, the coins are used every where as payments and exchanged on swipex.
    All in all dagcoin solving what one coin failed to fulfill.

  31. I am victum i am from pakistan and my all money lose in one coin
    My famly friends big lose i have no idea how i recover my money
    Pakistan law very difficult i wil never go police not saporting plz help as

  33. Onecoin is ups and downs hardly being kicked off the board for a long time but still standing. I as a Ugandan know America must be first forgetting the so called ponzi gains fame covering the world and paving its way for more investors.

  34. “Learn today,Lead tomorrow”
    Judges, Lawyers and councilors, you people learnt that’s why you are where you are, Look at ONE COIN’s Ecosystem number 1.The One Academy, everyone or every member had/ has an opportunity to learning Crypto currencies features and graduate or have enough knowledge in encrypted currency more so ONE COIN!
    You got your professional job/work after learning it!
    Never sign a document before reading and understanding it,so please, for your information ONE COIN is here to stay.
    Eyes open ?

    1. Lol. Sorry for your loss. Seek help for treatment of cult indoctrination.

      You should’ve studied blockchain and not sent your hard earned money to convicted criminalsand serial scammers in freaking BULGARIA.

  35. Onecoin will overcome challenges in the US, OC will be on the floor this year. Onecoin’s competitors are trying to take it down, but we are OC owners, we are confident because the truth is not the same as they accuse. 2020 we will be shining with Onecoin!

    1. Google is your friend. Learn to use the internet for yourself to avoid making similar mistakes in future.

      You want “original documents from American Judicial?” Don’t be lazy. Google: “Onecoin, Department of Justice” and open the links from the official .gov website.

      Sorry for your lots.

  39. BFM own by Former Onecoin Leader. They left Onecoin went with other Onecoin leaders and Start their own Coin using Onecoin idear, they promote Onecoin 4years ago. But now they trying to destroy the Onecoin. But Onecoin stay strong.

  40. Thanks to Dr Ruja for her Vision for the World. She is a Qualify Banker , Finance and as Lawyer. She know what she is doing to help Community, Nations especially poor people. Around the world. Let Your Vision fulfil.

  42. Well…a friend of mine invested in onecoin 70000 in Thai baht when onecoin opened for investment. And all these yrs he could never access the funds. (And I know another friend she invested 1mil baht original investment and still not have access to her funds. They both could only see it online. However, his other friend’s friend invested over 500 million baht was able to cash out his funds to his bank account all these years. I heard that this friend always made trips to foreign country to meet with the onecoin leader. So I’m thinking you need to invest over $20million in US inorder to cash out, but then this is even more scam than ever because instead of all account holders couldn’t access to their funds only high amount investors could cash out the funds.
    As for getting your money back on your investments if the attorney fees will exceed ur investment I suggest that you wait until there is actually a low suit against onecoin then you can joint the law suits. But not sure if foreign investors can join the law suit in the US if the Judge gave an okay Sue for 4$ billion, but I seen some law suits allow foreign addresses.

  43. Brilliant comment Dave and Marilyn’s you are on point. To everyone in support of Onecoin, well done. Those who claim to have lost investments in Onecoin have either been scammed by a bad actor using Onecoin as a vehicle or more importantly are representatives of the greed that exists in all markets. the facts are that 90-95% of individual investors in the stock, forex markets lose money not only to inexperience but greed. Most want to get “rich quick.” Dave and others were clear that they purchased financial education packages that help them to understand the current predatory monetary system that continues to create gigantic income inequality. It is a fact that the rich is getting richer, the pot is getting poorer and the middle class is shrinking. The main contributor is financial illiteracy among the global population that was set in motion more than 100 years ago with the creation of the federal reserve and a real life monopoly game that included the IRS. The latest example of the game unfolded with the last big recession in 2008. The big gambling banks were bailed out to the time of trillions of dollars that will be paid by current and future generations of hard working people thru taxation. That’s the real scam whereby companies like Onecoin are trying hard to educate the masses and help them to prevent further robbery of their wealth. Thanks to Onecoin I was able to invest in REAL education that elementary, secondary and tertiary level schooling never provided.

  44. I just baffles me, almost shocks me, to see there are STILL people believing in Onecoin. They say a donkey doesn’t hit himself on the same stone twice. But this?

    Admit the loss. Admit the mistake. Go forward.

  45. Some people spend money on Onecoin, wait for 1 year and 2 years, and when they don’t receive profits, they say they lose money, be cheated and complain, denounce Onecoin. Think again, if the money is deposited in the bank as savings, how much will you earn? If Onecoin is listed on the exchange and has liquidity, he will earn a profit of 10 times, 100 times or more?

  46. For the people who have invested in Onecoin and have not received any information on how Onecoin works and whats its progress, kindly get in touch with your respective leader who has shown you this path. In case if you are not in touch with your leader then kindly contact Simon Phillip (+1 941-991-1321) on WhatsApp. Or for a matter of fact anyone who is closely involved in the progress of Onecoin. Those who what positive from their investment, kindly be a part of the updates and progress OneCoin (Onelife network) is making. It will help you understand that your Investment is not a loss. It is rather growing and has helped you all these while with its growth. All those you have been a part of this Investment/ Education Package, and still have access to your Individual accounts can rest assured you have done a great deal by taking the right decision at the right time. Don’t get disheartened, just remember before any big and positive change there has always been scrutiny and false propaganda to stop it from flourishing as history has always shown us, what comes the hard way, stays there for long and forever for the benefit of the masses.
    I agree there are people, Institutions and Organisations that are trying to put Onecoin (Onelife Network) down. I just want you to understand that its a part and parcel of this current system that we are in. Every Individual wants to claim they are right and are trying to do the best they can, to preserve their interest.
    Everyone has the right to their opinion since we are in a free world.
    For the ones who have been misled in the past about Onecoin (OneLife Network) stay connected with your peers and help yourself by learning how the system works and the best way, you can gain benefits for your investment.

    All the best to everyone. Take care.

  48. Dear Bilal, if you have your account active and if you can still access your account then you certainly have not lost your money. For the return on your investment, you will need to wait. Company is in the process of getting onto the Exchange platform. A lot of progress is happening. We may have some good news soon about European banks approving us. So if you could wait, it will definitely get your best returns. The platform may be open to merchants to encash first and then for the rest. Hence, we all need to wait another 6 months for the exact details. I hope we will be able to trade on a larger scale and encash bit by bit by September 2020.
    You have waited so long, a little more patience will do a great deal.
    Take care.

  49. How can you lose your money in a program that sells education packages? Be specific people – did you pay someone 100,000 dollars for packages you did not receive, did you give someone 500, 000 dollars and they left never to return? Be specific because I bought an education package and it’s worth every penny. In fact I have received greater benefit than the money spent. There are persons in your organization biz for home.org who I believe would have loved to screw the rest of us the same way the banks and monetary system are doing.; but Dr Ruja would have none of it, so it’s all about sour grapes. Try as you might to destroy Onecoin you will fail. You will fail because more than 3million of us are not as brainwashed and greedy like you guys. I see so much similarity between the arrest of Huawei’s Meng Wenzhou and Konstantin. Huawei has gone past apple in smartphone market share and leading everyone in 5G technology, while Onecoin is positioned to be the global reserve peer to peer currency. Trying to kill the competition?

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