Scam Warning: Elyn Homewood

  • Name: ELYN HOMEWOOD
  • Company: LYN’S CLEANING SERVICES
  • Location: Cairns
  • ABN: 36 495 637 383
  • Mobile: 0438 106 025

​Avoid doing business with Elyn Homewood. She is affiliated with OneCoin, a known investment scam with links to organised crime​. The Australian Securities and Investments Commission​ (ASIC)​ has cautioned against doing business with OneCoin​ and its affiliated company OneLife. There have been​ ​over 160 arrests​ ​related to OneCoin globally​ and it is reported that OneCoin may have defrauded over $15 billion USD from investors. This warning aims to raise awareness in the Cairns community of the risks associated with this scam.

OneCoin (also known as OneLife) operates a pyramid scheme that sells investment packages ​in an​ ​illegitimate cryptocurrency​​ by means of ​educational ​packages comprised of ​plagiarized​ content. Ruja Ignatova, the founder of OneCoin, disappeared in 2017 after purchasing an apartment beneath a United States cooperator and learning she was being investigated by the FBI (Inner City Press). Konstantin Ignatova, ​Ruja’s brother and ​former head of OneCoin, has ​​pled guilty to ​significant ​fraud charges in the United States and has admitted under oath that OneCoin is a fraudulent scheme (​Inner City Press​).

Elyn Homewood is willfully selling OneCoin packages despite knowing it is a criminal enterprise. No​ formal​ charges are yet to be laid against her​ personally​. However, all verifiable evidence indicates she is ​contravening Australian law by promoting a pyramid scheme ​(Choice). In the event she has personally received payment on behalf of OneCoin​, as many affiliates have​​,​ she is also performing money laundering​ offenses​ for a criminal organisation​ (BehindMLM)​.

If you would like to know more about OneCoin, the following resources are available:

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