Ruja Ignatova, mastermind of the notorious pyramid Onecoin, is now one of Europe’s most wanted fugitives. Also known as the “Crypto Queen,” she disappeared almost five years ago, after the Ponzi scheme she led collected billions of dollars from defrauded investors around the world.
Europol Seeks Information on Onecoin Inventor’s Whereabouts
The European Union Agency for Law Enforcement Cooperation, Europol, is now offering a reward of up to €5,000 ($5,200) for any information that could lead to the arrest of Ruja Ignatova, suspected of masterminding one of the largest scams in crypto history, Onecoin.
The announcement describes Ignatova, a doctor of law, as the “driving force and intellectual inventor of the alleged cryptocurrency Onecoin.” She is suspected of inducing investors all over the world to put money into “this actually worthless ‘currency’,” Europol notes.
Europol also pointed out that fraud losses related to Ponzi schemes that were established to date are high in the double-digit millions, but also acknowledged that global damage is expected to be several billion dollars. Europol has more details:
The wanted person’s whereabouts have been unknown since 25 October 2017, and she has not appeared in public since this date, neither in connection with OneCoin nor otherwise.
Ignatova has been accused of “fraud, including that affecting the financial interests of the European Communities within the meaning of the Convention of 26 July 1995.” The promised reward is intended only for private individuals that provide crucial information about her location and not for officials prosecuting criminal offenses.
The Crypto Queen has been added to Europe’s Most Wanted list on the initiative of the German law enforcement authorities. According to an announcement published by the police in the western German province of North Rhine-Westphalia, the €5,000 reward has been offered by the public prosecutor’s office in Bielefeld.
Onecoin, which was created by Ruja Ignatova (Bulgarian-born German) in 2014 The project’s cryptocurrency was advertised as the “Bitcoin killer” and promoted through Bulgaria-based offshore entities Onecoin Ltd., registered in Dubai, and the Belize-incorporated Onelife Network Ltd. Sebastian Greenwood is currently in prison for the founding of both these entities.
Ruja’s brother, Konstantin Ignatov, who is also a co-founder of Onecoin, was arrested in Los Angeles in 2019 and charged with committing financial crimes. He has since started cooperating with investigators working on the case, testified about Onecoin’s links to organized crime, pleaded guilty, and sought witness protection.
Bulgaria was urged by a lawyer representing investors to resolve the issue in November. The claim that the scheme continued from Bulgarian shores is not new. Jonathan Levy, a lawyer representing investors filed a petition with Bulgaria’s Ombudsman claiming that officials failed to give justice to victims. He also alleged that the Ignatovs and Onecoin entities were still in control of property, crypto assets, and fiat funds exceeding €12.5 billion (over $13 billion).
Do you think European law enforcement authorities will manage to locate Onecoin’s founder Ruja Ignatova? Comment below.
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