SINGAPORE - A man has been convicted of promoting a multi-level marketing scheme involving purported cryptocurrency OneCoin.. Read more at straitstimes.com.
SINGAPORE - A man has been convicted of promoting a multi-level marketing scheme involving purported cryptocurrency OneCoin.
He was charged in April last year under the Multi-Level Marketing and Pyramid Selling Act, in a case the police said was a first of its kind. Fok, who was a director of locally registered companies including wholesale trading firm A Roboclean , used Facebook page OneLife One World Team Singapore to advertise the scheme, and promoted it at large scale events.
Participants could also receive commissions if they referred others to buy these packages and if those participants in turn made successful referrals.Another man, Lim Yoong Fook, was also charged in April last year with the same offence of promoting the multi-level marketing scheme, also with OneCoin.The court case is still ongoing.
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