Samoan Church Denies Deliberate OneCoin Involvement

Wilfred Michael 

Wilfred Michael

News reporter

03 May 2019,
08:30
Samoan Church Denies Deliberate OneCoin Involvement

The Samoan Independent Seventh Day Adventist Church (SISDAC) one of the two religious centres accused of collaborating with a fraudulent crypto project, OneCoin has quickly moved to deny the allegations.

In a press release published on its Facebook page, SISDAC said that it is not happy with how the Samoan Central Bank summarized the reports of the incident. Precisely, the church mentioned that it has never “knowingly participated or colluded in any way shape or form with any individual or organisation in this type of illegal activity”.

The statement is in contrast to earlier reports which suggested that leaders of both SISDAC and the Samoan Worship Center, the other accused church partnered with OneCoin promoters to sell the token to the congregation.

Speaking on what efforts the church is taking to right the wrongs, the release noted that the church is seeking to get its hands on a copy of the official report about the incident to help them conduct due diligence. Additionally, SISDAC said it is “seeking legal counsel over these matters that threaten the integrity and good standing of the church, its leadership, its missional work and the well-being of its loyal membership."

Meanwhile, local reports continue to suggest that Samoans threw in several thousands of dollars into the OneCoin cryptocurrency scheme with the churches being one of the most targeted venues for the promotion. An unnamed woman even confirmed that she and her husband invested at least $18,000 into OneCoin after a certain Ms Hunt representing the project told her that it was a lucrative investment.

As Stmarket.co reported in April, U.S authorities arrested Konstantin Ignatov and his older Ruja Ignatova, the founders of the multi-billion market cap cryptocurrency, OneCoin. While the cryptocurrency was marketed as a token for use on exchanges, authorities believe that it is an old-school pyramid scheme executed with the aid of new technology.

 

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