In what appears to be a response to the State Bank of Pakistan and Federal Investigation Agency announcing a crackdown on OneCoin, affiliates in Pakistan are claiming OneCoin has registered with the Pakistani SEC.
Just one small problem though… it hasn’t.
In a Facebook post dated August 27th, three days after the crackdown was announced, OneCoin Pakistan Team wrote
Congratulations to all Onelife Community Members, Onelife Network is Now Officially Recognized by Security Exchange Commission of Pakistan, we Got NOC From SECP AND WORK Permit, Registered from Direct Selling Association.
Accompanying the post are several photos:
- an SEC certificate of incorporation for Famous Associates PVT LTD, dated February 20, 2012 (two and a half years before OneCoin existed)
- A DSA membership certificate for OneLife Network LTD
- a letter from the Pakistani SEC confirming the company name “OneLife Network LTD” is available for registration
- A photo of OneCoin affiliate Muhammad Zafar and some randoms holding the Pakistani DSA certificate
Not surprisingly, a search on the Pakistani SEC website turns up nothing for OneLife Network.
Even two weeks after OneCoin Pakistan Team announced OneCoin had registered with the Pakistani SEC, all it takes is a two-second search to confirm otherwise.
Despite the obvious lie, OneCoin Pakistan Team take it upon themselves to demand authorities investigating OneCoin in Pakistan stop “trying to confuse people”.
FIA , CIA, or any other Authority who is Trying to Confuse people, I suggest them to Move Back, otherwise you will be Ambarrased!
And that would be waistage of our and their time.
REGARDS: UMAR ASGHAR
IMA OF Onelife
According to Umar Asghar’s Facebook profile, he’s a OneCoin IBO based out of Lahore, Pakistan.
What with Pakistani authorities unlikely to take being publicly “ambarrased” by OneCoin publicly, no doubt they’ve since dropped their investigation.
At the time of publication Pakistan is the second largest source of traffic to the OneCoin website and third largest for OneLife.
Muhammad Zafar and his cronies are largely responsible for OneCoin recruitment in Pakistan.
A regulatory investigation leading to arrests would deal a major blow to their pyramid recruitment efforts across the country.