Transcript
When representatives of cryptocurrency OneCoin landed in Samoa, they came for the churches.
And the churches welcomed them, with ministers and congregation members alike investing in the little-known company.
Fono Toluono, an IT engineer at the Samoa Worship Centre, says he put around 1000 euros into the scheme.
"A lot of people in Samoa invested in it, not just the church members. Everybody in the public."
But despite the welcome mat from would-be investors in Samoa, elsewhere OneCoin has come under intense scrutiny.
In March, its leader was arrested and charged with fraud by US authorities, which called the cryptocurrency a pyramid scheme.
Samoa was so concerned that in May last year, it issued a directive to all financial institutions to block OneCoin transactions.
But on Thursday, Samoa's Central Bank revealed OneCoin was able to circumvent this ban by funnelling money through New Zealand.
In a statement, it said Samoan businesses, churches and individuals had been implicated in what it labelled as a scam.
"The target of OneCoin is through the Churches. There are two large churches that were used in OneCoin operations. These two Churches, although originated in Samoa, have branches in New Zealand and Australia, thereby affecting the Pasefika community."
The Central Bank named the Samoa Worship Centre as one of the churches, which was confirmed by Fono Toluono, the IT engineer.
Mr Toluono said he was not aware how much money the church's members had invested into OneCoin, adding that he was happy with his investment.
The Central Bank cited a report by New Zealand's Financial Intelligence Unit, which said around $US2.3 million had been transferred out of the country.
But while the bank is warning investigations and action may follow, experts say that should have already happened.
Alex Sims, an associate profressor at the University of Auckland, says regulators around the world have failed to take action against OneCoin.
"The question's got to be asked - why was nothing done when people have known this was clearly a ponzi scheme for a couple of years? I would be looking at the regulators for not actually shutting this down."
Back in Samoa, Fono Toluono has no regrets, echoing OneCoin's pitch as a safe investment with educational benefits.
The company could not immediately be reached outside of trading hours but in a March statement said transparency was one of its core values.