By CCN: OneCoin execs are sick of being called a Ponzi scheme. Allegations of ripping off churches are false too, they claim.

In a lengthy letter to the Samoa Observer, the cryptocurrency-powered marketing company defended itself against what it considers to be false allegations

OneCoin takes issue with news articles that were used by the Central Bank of Samoa (CBS), which fueled the Ponzi scheme narrative. The CBS has issued clarifications about the information it received about OneCoin’s operations.

OneCoin is alleged to be involved in a $3 billion pyramid scheme. The Manhattan U.S. Attorney claims that the company created a fraudulent cryptocurrency with the intent of defrauding investors. @proskauerhttps://t.co/CQ155s0rBopic.twitter.com/UkXmqM0Krh

— LexBlog (@LexBlog) May 10, 2019

DENYING PYRAMID SCHEME ALLEGATIONS

The pyramid scheme allegations stem from a case in which OneCoin was charged with encouraging people to invest and promising a profit. In March, the FBI arrestedOneCoin player Konstantin Ignatov based on allegations that he was one of several masterminds behind a multi-billion dollar crypto pyramid scheme.

*Update*

Konstantin next preliminary hearing will be held on or around May 27th 2019