SINGAPORE - Two Singaporean company directors from different firms have been taken to court after they allegedly promoted a multi-level marketing scheme involving a purported cryptocurrency known as OneCoin.They added:"The supposed cryptocurrency OneCoin is purportedly founded by a Bulgarian, and has several features that are similar to Bitcoin. Several countries including New Zealand have issued warnings to the members of the public against having involvement with OneCoin.
The other man, Fok Fook Seng, 51, who is the director of locally registered companies including wholesale trading firm A Roboclean , faces one charge under the same Act. Police said local residents took part in the scheme by buying online educational courses bundled with"promotional tokens". Besides these, Lim is also accused of incorporating One Concept to promote the multi-level marketing scheme.
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Source: BusinessTimes - 🏆 15. / 51 Read more »