A crypto-shilling Samoan church is paying the price for its link to the OneCoin scam, as it is now the subject of a New Zealand probe. | Source: Shutterstock. Image Edited by CCN.
New Zealand, Samoa Target Church Over OneCoin Crypto Scam
According to Radio New Zealand, New Zealand’s Department of Internal Affairs is investigating the Auckland branch of the Samoan Independent Seventh Day Adventist Church (SISDAC) over investments it made in OneCoin.
SISDAC’s chief executive officer, Willie Papu, publicly confessed that the church invested $NZ3.5 million ($US 2.3 million) into OneCoin, perhaps the most infamous scam ever associated with the crypto industry.
OneCoin is not illegal in New Zealand, so the precise focus of the investigation remains unclear.
South Pacific Churches Targeted in Billion-Dollar Cryptocurrency Scam. Pleased to have contributed to this article to warn that bad actors like this slow the mass adoption of cryptocurrencis, which is why most people will use regulated cryptos first. https://t.co/6W6TsOGRSa
— Edmund Moy (@EdmundCMoy) May 9, 2019
The Samoan church was already the subject of a probe by the Central Bank of Samoa.
This was over suspicion that they had violated the country’s anti-money laundering laws by helping OneCoin funnel millions into the country. It’s illegal to buy or sell OneCoin in Samoa.
In late April, the organization’s global executive secretary, Pastor Iafeta Masipau, claimed that only the New Zealand branch was involved with OneCoin and not the Samoan branch:
“The (S.I.S.D.A.C.) church in New Zealand is involved but not us in Samoa,” he said,