OneCoin Review- Scam

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According to reports, Frank Schneider has been indicted on multiple counts in the United States, including money laundering.   

While Schneider is waiting for a judgment on his extradition to the US, he just admitted to money laundering for OneCoin.   

Schneider (right) admitted in a radio broadcast that he had laundered money for OneCoin “for two years,” which is strange news to come out of Luxembourg.  According to an article written by Jean-Claude Franck for Radio 100.7 in Luxembourg, ” He informed us he had made four or five million euros for his company, Sandstone, by working for internationally sought cryptoqueen Ruja Ignatova for two years.” Frank Schneider stated that the possibility of judicial classification as money laundering could not be ruled out. 

The obvious conclusion is that it includes money laundering. In other words, what else could it be?   

Schneider has been in charge of money laundering activities at OneCoin. The particular charges against him in the US indictment are unknown at this time until they are made public.  

Schneider claims ignorance of the fact that OneCoin was a Ponzi scam despite his close relationship with Ruja Ignatova.   

Frank Schneider claims he was never made aware of this by his boss, Ruja Ignatova, during his time working for her. He claims that “many years have passed and substantial quantities of money have undoubtedly disappeared.” A confession from Frank Schneider: “If it really is fraud, it must be clarified, and then it will also be a case of money laundering, and I must be held responsible for what I might have done.”   

Schneider’s defense strategy seems to include acting clueless.   

Frank Schneider claims ignorance of the law as an excuse for his actions. And he has just realized, in 2018, that what he did from 2015-2017 may have been illegal. Scheider’s displeasure is understandable after he finds out that the FBI briefed the German authorities and then tipped off Ruja Ignatova.   

U.S. officials have made these accusations, but Schneider says they are false. Schneider also refutes rumors that he or Sandstone had gained access to confidential material regarding the ongoing Europol investigation of OneCoin. He learned this, he adds, because Ruja Ignatova told him to. He claims he may be able to provide proof of this: “I have never sought secret information from any official sources.” Not something I would have done. ”   

In response to questions about his pretended obliviousness, Schneider told Radio 100.7, “There is no point looking back and speculating what would have occurred if he had done differently.” According to Schneider, it was his responsibility to help steer OneCoin in the right direction by identifying and addressing issues. It wasn’t only his responsibility, he says; the scheme as a whole had failed.   

Schneider’s proximity to Ignatova has led to speculation that he may know her whereabouts. Since her disappearance in 2017, he says he hasn’t heard anything.   

His best guess is that Ruja Ignatova vanished on her own volition around that time. She had never told him she planned to disappear into the shadows. He emphasizes that he would never have participated in helping “to make individuals disappear.”   

The French government has yet to decide when they will decide whether or not to extradite Schneider.   

Frank Schneider has stated his desire to provide courtroom testimony about the OneCoin scandal. In contrast to the United States, where the 53-year-old faces up to 40 years in prison, he faces up to five years in Luxembourg. Schneider has stated publicly that he would rather face prosecution in Luxembourg than in the United States. And he responds, “That’s typical.” It would be “like a death sentence” to face justice in the United States. 

Given that Luxembourg has and continues to ignore OneCoin’s Ponzi scam, I think the five-year sentence handed down to Schneider in Luxembourg is excessive.

According to reports, Frank Schneider has been indicted on multiple counts in the United States, including money laundering.    While Schneider is waiting for a judgment on his extradition to the US, he just admitted to money laundering for OneCoin.    Schneider (right) admitted in a radio broadcast that he had laundered money for OneCoin…

According to reports, Frank Schneider has been indicted on multiple counts in the United States, including money laundering.    While Schneider is waiting for a judgment on his extradition to the US, he just admitted to money laundering for OneCoin.    Schneider (right) admitted in a radio broadcast that he had laundered money for OneCoin…

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