CryptoCurrency

OneCoin Founder Ruja Ignatova Is Again after 5 Years in Hiding

Ruja Ignatova Comes Back Following Five Years of Absence
The founder and mastermind of the OneCoin cryptocurrency scam, Ruja Ignatova, is said to have reappeared after going missing for more than five years. A 42-year-old German citizen with Bulgarian ancestry was discovered during last week’s central London property itemising. Ignatova purchased the penthouse for her company, but new UK regulations mandate that the name of the “useful proprietor” be listed. The prison was forced to come out of hiding because she needed to be officially listed on the document with her shell agency. The £11 million property was marketed by prestigious real estate company Knight Frank. However, the itemization was dropped upon confirmation by media reports of the penthouse’s link to the prison that was required.

Why is this information so important? It implies that Ignatova is still alive and that property records indeed have information about her last location. If she is unable to be apprehended, the property might be utilised to compensate some of her victims.

Ignatova and her business partner Sebastian Greenwood introduced the OneCoin cryptocurrency in 2014, marketing it as the “bitcoin killer.” OneCoin proved to be one of the worst cryptocurrency hoaxes in history, with customers losing an estimated $5 billion as it spread to 175 countries. Documents from US courts show that at its height, the pyramid scheme’s businesses may have employed three million people, bringing in a total of little over $4 billion in revenue between 2014 and 2016.

The prospect of receiving large, even tenfold, returns on their initial investment has drawn investors. However, the majority of them never saw their money again, and Ignatova and Greenwood vanished in 2017. After being detained in Thailand in July 2018, the conspirator was extradited to the United States. He might receive a 20-year prison sentence if found guilty in April of this year.

A year later, Konstantin Ignatova, Ignatova’s nephew, was also imprisoned for trying to operate a second financial pyramid scheme following his sister’s escape. He is accused of conspiring to commit fraud and money laundering, and he may be punished next month.

Mark Scott, the former attorney for OneCoin, was found guilty in a US courts in 2020. Scott allegedly received more than $50 million in compensation for his assistance in helping to launder $400 million of Ignatova’s money that was obtained fraudulently.

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