MLM was due to make an appearance. Multi-Level marketing explains much about OneCoin’s story. In this ONE-HOUR episode of “The Missing Cryptoqueen,” we’ll learn about the secret ingredient that catapulted Dr. Ruja from the millions to the billions. We’ll meet interesting people and the plot will thicken. The OneCoin scam’s size will also increase. It gets more complicated with every episode. That is part of what makes this show so fun. This was one crazy clusterfuck.
Answering the question is what it all begins. This is the episode’s 4th question.. A Dr. Ruja could have appeared in an unknown form at Miss OneLife. Pictures from the event were shown by the production team to a UK surgeon. There was a person with OneCoin’s main directors that they suspect might’ve been Ruja Ignatova. He hesitates, but when Jamie Bartlett tells him that the person they’re looking for is a billionaire with an infinite budget, he changes his mind. “It’s possible, those things can be changed,” he says.
That being settled, let’s get into MLM.
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About MLM And “The Missing Cryptoqueen,” Episode Five – “What Dreams May Come”
This episode’s protagonist was the #1 seller of OneCoin at one point. He’s a professional multi-level marketer with an army of professional MLM salespersons at his disposal. His house is called “What Dreams May Come,” which inspired the episode’s title. This man’s tongue is the main reason this episode is one hour long. They are incredible and should be heard by everyone. Especially considering we’re going to skip them and stick to the core story.
Network marketing, multi-level marketing (MLM), or network marketing can be the missing ingredient. When this man’s company started working for OneCoin, they put an army of top-level marketers to push the product. The product sold like hotcakes. “In the first year, it made more millionaires than Amway ever did in their 75 years of history,” he claims. Here’s the kicker: The MLM marketing professional claims that he believes Dr. Ruja, and that he put more money in OneCoin that anyone else on the planet.
According to the released FBI documents we found last time, Dr. Ruja and company called this operation “The B*tch of Wall Street meets MLM.” You can’t make this stuff up. An archival audio file shows her announcing that OneCoin was going 10X the supply. She is cheered by the crowd. She then told them, in contradiction to every economic law that they had, that the more OneCoin was, the better it was for them. They agreed. They laughed. The people lost all sense of reality.
Two of the most shocking revelations from the episode are not only about MLM but also in these two quotes.
Quotes From “The Missing Cryptoqueen,” Episode Five – “What Dreams May Come”
Tim Curry (OneCoin critic) said:
“The math of this is just completely ridiculous. Each minute, there are 50,000 OneCoins being mined. Now, the value of those at today’s “price” of €29.95 would be €1.5 million a minute, is what they’re claiming right? And per hour, that’s €89.85 million. And then, per day, they’re creating €2.15 billion out of thin air, right? This logic is absurd. Now, if you follow how many coins have been mined for the first quote “Blockchain.” And then, from October 1 to present, it’s nearing about 70 billion coins. If we take 70 billion coins and multiply that by the internal price of 29.95, you’re looking at, I think it’s like $1.8 trillion or $2.1 trillion. Which is greater than all of the US dollars in circulation on earth, which is about $1.67 trillion.”
Amjad Mohammed (a Bradford scholar and OneCoin critic) said that OneCoin had a Shariah-compliant certificate that was issued by Pakistan.
“What Sharia compliant is supposed to mean, is that somebody has carried out thorough research, gone through all the conditions, gone through all the terms with a fine tooth comb. It was not evidence that any research had been done. It was just a blank certificate saying “this is okay.” Amjad issued a fatwa against this, a ruling that OneCoin was not halal. And then, “within weeks, the conditions which I had highlighted as being problematic changed. It was obvious that someone was monitoring what I was doing, as I picked only two in my first fatwa. OneCoin is not real. It is impossible to make conditions on something that does not actually exist. It’s a fraud.”
MLM and The Perfect Scam
Jamie Bartlett, near the end of the article, reflects upon the events so far.
“There’s something strangely beautiful about the OneCoin scam. It’s like the perfect scam. The combination of the hype surrounding cryptocurrency and MLM-selling of Igor Alberts, it combines the best of both worlds. The scheme uses celebrity events and household brand names to give the appearance of respectability. It also protects this veneer with religious-like zeal. And who could ever doubt the intentions of the trustworthy Dr. Ruja.”
This episode shows the cultish aspects of this whole thing. The whistleblowers tell the producers about the death threats they get like it’s nothing. For people inside of OneCoin, they’re traitors of the highest order. For these religious zealots, Dr. Ruja is still running the whole operation from the shadows, and the people that want to silence her are just jealous “haters.”
Jamie Bartlett examines the possibility that OneCoin became too big when MLM and it was combined with OneCoin. Perhaps Dr. Ruja was afraid, according to an alleged email. It was a small scam that caught fire. And Dr. Ruja’s backers were not going to let a golden goose die.
Episode Credits
Presenter: Jamie Bartlett
Georgia Catt, Producer
Chris Berube is a story consultant
Editor: Philip Sellars
Phil Channell Original music and Sound Design
Dessislava Stephanova and The London Bulgarian Choir – Original music and voice recordings
Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast:
Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/
Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/
Ep. 03 – https://www.newsbtc.com/altcoin/ep03-onecoin-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/
Ep. 04 – https://www.newsbtc.com/scams-and-fraud/ep04-onelife-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/