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In Ras Al-Khaimah, a court recently heard a case brought by a OneCoin victim. This is in contrast to Dubai, which is a crime-filled cesspool.
The judge ruled in favor of the person who was hurt (shocked pikachu face).
The victim plaintiff bought 40,000 OneCoin Ponzi tokens for AED 100,000 (about $27,225 USD), according to the court filing.
After getting the money, the scammer didn’t send the OneCoin tokens to the new account.
This led the person who was hurt to file a lawsuit in Ras Al-Primary Khaimah’s Court.
The OneCoin victim won in court, and the recruiting scammer was told to give back the money invested plus AED 10,000 ($2,722) in compensation.
Lexology wrote that this led to an appeal;
The seller went to the Appeals Court to appeal the decision of the Primary Court. He said that the sale was legal because it was done through a “Deal Shaker” platform and did not break the law or go against public policy.
The con artist tried to say that the terms under which OneCoin tokens were sold meant
The seller would hold on to the cryptocurrency according to the terms and conditions listed online, and the buyer would be able to transfer it to them at certain times.
The scammer’s argument was turned down by the Appeals Court, which said that OneCoin was a Ponzi scheme.
The court found that OneCoin, its related companies, and its founder, Ruja Ignatova, were all linked to fraud that entices investors to join a Ponzi scheme. This was because the agreement in question was about OneCoin.
The Court came to the conclusion that the currency was sold and used in a dishonest way, which makes the sale invalid and a violation of the law and public policy.
If only Dubai’s government was as good as the courts in Ras Al-Khaimah.
