In a scrumptious twist of irony, a court docket in crime infested Dubai lately heard a case introduced by a OneCoin sufferer.
In keeping with the court docket submitting, the sufferer plaintiff was offered 40,000 OneCoin Ponzi tokens for AED 100,000 (~27,225 USD).
Upon receiving the funds, the recruited scammer then didn’t switch the OneCoin tokens over.
This prompted the sufferer to file a lawsuit within the Main Courtroom of Ras Al-Khaimah.
The Main Courtroom dominated in favor of the OneCoin sufferer, ordering the recruiting scammer to return the invested quantity plus AED 10,000 in compensation (~$2,722 USD).
This prompted an attraction, as reported by Lexology;
The Vendor appealed the Main Courtroom judgment earlier than the Appeals Courtroom arguing that the sale is legitimate because it was performed via a “Deal Shaker” platform, and it doesn’t violate the legislation nor public coverage.
The scammer tried to argue that the phrases the OneCoin tokens had been offered underneath meant
the Vendor would keep the cryptocurrency in accordance with the Vendor’s phrases and situations as listed on-line and launch it for switch to the Purchaser between sure intervals of time.
The Appeals Courtroom rejected the scammer’s argument, discovering OneCoin to be a Ponzi scheme.
The Courtroom discovered that OneCoin (and its associated firms and its founder Ruja Ignatova), as being the item of the underlying settlement, was deemed related to fraud that tempts buyers to hitch a Ponzi scheme.
The Courtroom concluded that the offered forex and its circulation constitutes fraud, which makes it an invalid transaction and a violation of legislation and public coverage.
If solely Dubai’s authorities had been on the identical stage as their courts.
