Malawi’s popular conman Ben Chiza Mkandawire is at it again and this time around he is pushing a financial scam called OneCoin a.ka One Life to Malawi.
According to a poster on the event flying around on social media, the event will take place on Sunday October 24, at the Bingu International Conference Centre in Lilongwe from 18:30 and the dressing code will be strictly formal. It is going under the seductive slogan “Join the financial revolution” and some of the facilitators will be U.K’s Yasir Mirsa and Danish Jakhura.
However, according to our exclusive investigation, OneCoin is a scam which is not offering the next alternative to Bitcoin but actually offering people the opportunity to be scammed out of their money.
“OneCoin is a Ponzi scheme. Many of the people central to OneCoin have been involved in other such schemes that have collapsed with many people losing a lot of money. There is a constant need to get more people to invest to pay out previous investors. The people who are holding the meetings in Blantyre and Lilongwe will receive commission on anything they sell.
“They are not bothered at all if you end up losing money. All they are really interested in is the commission they will receive.” Said the source.
Meanwhile OneCoin is has been banned by the authorities in Bulgaria, Finland, Sweden, Norway, Latvia, Poland, China and the UK.