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Kate Winslet Joins Cast Of OneCoin Crypto Scam Movie

Last updated: | 1 min read

British star actress Kate Winslet has reportedly joined the cast of Fake!, a new motion picture in development that is to retell the story behind the OneCoin crypto ponzi scheme that scammed investors worldwide out of billions of dollars.

Kate Winslet. Source: Wikipedia/Andrea Raffin

Directed and written by Scott Z. Burns, who authored the screenplay for The Laundromat, the 2019 film on the Panama Papers scandal, among others, the forthcoming picture is to be based on the yet unreleased book by Jen McAdam and Douglas Thompson which is based on McAdam’s true-life story of her involvement in the scheme, as reported by Deadline.

McAdam was one of the ponzi scheme’s victims, and she set up a support group for those scammed by the scamcoin. Together with her friends and family members, she invested about USD 300,000 in the fake cryptocurrency set up by Bulgaria-based offshore businesses OneCoin Ltd and OneLife Network Ltd which were registered in Dubai and Belize, respectively.

Under the OneCoin scam, investors worldwide were promised guaranteed returns as high as 300% for investing bitcoin (BTC) or US dollars with a Nevada-based outfit.

Estimates of the losses generated by the international ponzi scheme vary. US prosecutors alleged OneCoin could scam investors across the world out of USD 4bn. Last year, Fortune magazine speculated that OneCoin may have raked in more than the USD 19.4bn Bernie Maddoff amassed from his victims until 2008.

The picture should be released by Metro-Goldwyn-Mayer, and Winslet will also serve as one of its producers. The Oscar-winning actress rose to international prominence following her role in James Cameron’s 1997 blockbuster Titanic where she starred along with Leonardo DiCaprio. Burns and Winslet previously collaborated on the 2011 movie Contagion, directed by Steven Soderbergh, in which she starred.

Meanwhile, US venture capital firm Andreessen Horowitz recently released a documentary movie, title Crypto Startup School, which follows seven participants of the company’s bootcamp: