The OneCoin team compared its product to Bitcoin in sales pitches but did not have, in the words of the Justice Department, “a true blockchain — that is, a public and verifiable blockchain,” any mining operations or even as many coins on its private blockchain as it sold.

https://cointelegraph.com/news/onecoin-co-founder-greenwood-gets-20-years-us-jail-fraud-money-laundering

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