Saturday, August 19, 2017

Italian Authority Fines Onecoin Promoters 2.6 Million Euros

Italian Authority Fines Onecoin Promoters 2.6 Million Euros

Onecoin promoters have been fined 2.6 million euros in Italy after the country’s antitrust authority found them engaging in a pyramid scheme and misleading promotions. The fines follow the authority’s previous suspensions of Onecoin activities, which have failed to stop its promotion in the country.


The Italian Competition Authority known as L’Autorità Garante della Concorrenza e del Mercato (AGCM) in Italian has fined several Onecoin promoters a total of €2,595,000 for running pyramid sales and for using misleading promotional methods. The Competition Authority is a quasi-autonomous, non-governmental organization financed by the Ministry of Economic Development. It is in charge of enforcing both Italian and European consumer protection laws. They wrote:


After the investigations, the Authority imposes sanctions against One Life Network Ltd (€ 2.000.000), One Network Services Ltd (€ 500.000), Easy Life Srl (€ 80.000), as well as the registrants of websites Onecoinsuedtirol.it, Onecoinitaliaofficial.it, Onecoinitalia.com (€ 5.000 each).


Full story at http://bit.ly/2wbtVgG


Source: Bitcoin News


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