FBI added Onecoin Founder Ruja Ignatova to its most-wanted list and Ignatova is accused of defrauding investors out of $4 billion via a Ponzi Scheme so let’s read more today in our latest cryptocurrency news.
Onecoin founder Ruja Ignatova earned the spot on the Federal Bureau of Investigation’s Ten Most Wanted Fugitives list for being a part of defrauding investors of $4 billion. FBI added OneCoin founder to its most-wanted list and the Southern District of New York federal court will hold a press conference to announce more news.
Ignatova was the leader and the public face of the project which was started in Bulgaria in 2014 and as Ignatova told investors, the OneCoin crypto could be mined and had actual value. Onecoin didn’t exist on the blockchain and Ignatova and her team manipulated the value via the automatic generation of coins. She has also been ont the run since 2017 when she disappeared from the public eye and Konstantin her brother, took over as a leader in Onecoin.
In May 2019, a class-action lawsuit was filed against Ignatova and Onecoin as well as other executives but when they didn’t respond to the suit, a default judgment was awarded to the plaintiffs and that is why the FBI added her to the most wanted lister so she now faces charges all around the world.
As recently reported, The Onecoin founder Ruja Ignatova disappeared after fleecing investors out of $5 billion in 2017 which is how she got her name on the Europol’s most wanted list. Europol is the European Union Agency for Law Enforcement Cooperation and offers 5000 EUR rewards for information leading to Ignatova’s arrest on fraud charges and soliciting investments for Onecoin which is a worthless currency.
Ignatova launched Onecoin in 2014 and promised that it was the next “Bitcoin killer.” in the next few years, she raised money from investors in 175 different countries but when Onecoin turned out to be a Ponzi Scheme in 2017, she fled to Athens and hasn’t been seen since. OneCoin and Ignatova were the subjects of the BBC Sound Podcast, the Missing Cryptoqueen, and the documents leaked to BBC show that the British investors bought 30 million EUR worth of Onecoin during the first half of 2016. the investigation revealed that OneCoin didn’t even have a blockchain.