Published On: Tue, Feb 28th, 2017

OneCoin Ponzi Steals $145K From Wrongfully Imprisoned Man

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Perhaps the saddest example of how OneCoin’s fraudulent activities can negatively impact people’s lives has surfaced in Chinese investor Chen Man.
OneCoin Inhales $145k Compensation Cash
OneCoin, long suspected by the media, governments and investors alike to be a Ponzi scheme, defrauded Man out of over one million yuan ($145,000 USD).
Man, who is famous for having spent 23 years in prison for a murder he did not commit, decided to invest in the scheme thinking it was “an opportunity to catch up to the modern world.”

The funds were part of his compensation package from the Chinese government, which totaled 2.75 million yuan.
As Sixth Tone reports citing an interview in local publication Cover, Man ignored warnings from family, friends and a documentary filmmaker following him at the time. He only admitted defeat Saturday when he realized he could not withdraw his initial investment.
“Most people are not familiar with this area, so, in this new field, I could perhaps stand on the same starting line as everyone else,” he told Cover. “I’ve been disconnected from society for too long.”
Lack of Education Still Profiting OneCoin
Man’s …

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