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Court Fines A Teacher For Forcing Students To Invest In Onecoin

Jake Hill
Jake Hill

A Teacher of Albeda College Rotterdam Vocational Training Center in the Netherlands was fired and fined by a court. As the teacher was encouraging his students to participate in pyramid schemes with cryptocurrencies, including OneCoin.

This was confirmed on May 1 by a ruling of the Court of Rotterdam, which also requires the defendant to pay about 519 euros for court costs and fees.

According to the training center, the teacher who worked at the institute since 2005. During his classes, he urged students to invest in the packages sold by OneCoin. All with the promise of great profits.

Albeda College initiated the investigations on the case in September of 2017. This due to the complaints of many students who were invited to attend the meetings organized by the promoters of these schemes. This meeting was to recruit more participants. Many of the students were forced to invest money due to fear of lowering their grades.

The teacher was investigated by the school authorities

According to the statement, at the beginning the teacher was interrogated by the school authorities, admitting his participation in the Ponzi schemes. As a result, the teacher was suspended from the center, his telephone and computer were confiscated. Many of the files that served as proof of his activity in the crypto related companies were found. His was recruiting people and obtained the “points”  by new participants, including his students.

Likewise, the inquiries made among the students and staff of Albeda College determined that the teacher promoted the schemes in class. Also was done through text messages and emails, and advised on how to earn money saying that it okay to have dirty money

As a result, the training center dismissed the instructor and sued him for taking advantage of vulnerable students. He benefited from using his work schedule to promote financial and health products of dubious reputation.

The Court approved the allegations of the training center, declaring the accused guilty and terminating the work contract and imposing the fine on the defendant.

The case of this instructor gives an extreme example of the operation of the Ponzi or pyramid schemes. Hence the motive of the promotional meetings held by this type of organizations not only for the person who invests, but also to encourage others to participate.

It is worth noting that the schemes are subject to accusations of fraud. Specifically, OneCoin, for about two years, has been subject to investigations and sanctions in European countries. OneCoin has also been accused in many different countries.

What do you think about this? let us know in the comments below.

cryptoonecointeacher

Jake Hill

Coming from a University Education in Computer Science, I am interested in blockchains and Bitcoin since 2014 and even mined at the time. The rumors of Bitcoin bubble made me run away, but I have com