MLM News Hubb
Advertisement
  • Home
  • Marketing
  • Multi Level Marketing News
  • Contact us
No Result
View All Result
  • Home
  • Marketing
  • Multi Level Marketing News
  • Contact us
No Result
View All Result
MLM News Hubb
No Result
View All Result
Home Multi Level Marketing News

UAE court rules in favor of OneCoin victim

admin by admin
October 20, 2022
in Multi Level Marketing News


In contrast to the crime infested cesspool that is Dubai, a court in Ras Al-Khaimah recently heard a case brought by a OneCoin victim.

Judgment was found in favor of the victim (shocked pikachu face).

According to the court filing, the victim plaintiff was sold 40,000 OneCoin Ponzi tokens for AED 100,000 (~27,225 USD).

Upon receiving the funds, the recruited scammer then failed to transfer the OneCoin tokens over.

This prompted the victim to file a lawsuit in the Primary Court of Ras Al-Khaimah.

The Primary Court ruled in favor of the OneCoin victim, ordering the recruiting scammer to return the invested amount plus AED 10,000 in compensation (~$2,722 USD).

This prompted an appeal, as reported by Lexology;

The Seller appealed the Primary Court judgment before the Appeals Court arguing that the sale is valid as it was conducted through a “Deal Shaker” platform, and it does not violate the law nor public policy.

The scammer tried to argue that the terms the OneCoin tokens were sold under meant

the Seller would maintain the cryptocurrency in accordance with the Seller’s terms and conditions as listed online and release it for transfer to the Buyer between certain periods of time.

The Appeals Court rejected the scammer’s argument, finding OneCoin to be a Ponzi scheme.

The Court found that OneCoin (and its related companies and its founder Ruja Ignatova), as being the object of the underlying agreement, was deemed associated with fraud that tempts investors to join a Ponzi scheme.

The Court concluded that the sold currency and its circulation constitutes fraud, which makes it an invalid transaction and a violation of law and public policy.

If only Dubai’s authorities were on the same level as Ras Al-Khaimah’s courts.





Source link

Previous Post

How to Perfectly Manage a PPC Campaign [Template]

Next Post

11 Awesome Affiliate Marketing Programs for Beginners in 2022

Next Post

11 Awesome Affiliate Marketing Programs for Beginners in 2022

Recommended

ACN halts recruitment in Europe (we don’t know why)

October 29, 2022

SEO Trends to Leverage in 2023

January 17, 2023

GoArbit securities fraud alert issued by Argentina

February 18, 2023

How to Use Black-Owned Banks to Start Your Business

February 1, 2023

Don't miss it

Marketing

Why is Mcommerce the Future of Ecommerce?

March 19, 2023
Marketing

Amazon’s Affiliate Program | Motivation

March 19, 2023
Multi Level Marketing News

Dokodemo Review: Ecommerce “click-a-button” app Ponzi

March 19, 2023
Multi Level Marketing News

2 Types of People That’ll Help You in Network Marketing by Justin Prince

March 19, 2023
Marketing

Designs, Templates, and Examples for 2023

March 19, 2023
Marketing

Converging Marketing, Sales and Customer Service

March 18, 2023
Marketing

HustleGPT is a hilarious and scary AI experiment in capitalism

March 18, 2023
Multi Level Marketing News

Karatbars International securities fraud warning from Alberta, CA

March 18, 2023
Multi Level Marketing News

How to Maintain Your Vision and Commitment in Tough Times

March 18, 2023
Marketing

What is an Infographic Resume? Examples and Templates

March 18, 2023

© 2022 MLM News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Marketing
  • Multi Level Marketing News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Marketing
  • Multi Level Marketing News
  • Contact us

© 2022 MLM News Hubb All rights reserved.