- The United States government has recently declared a substantial reward of up to $5 million for information leading to the capture of Ruja Ignatova, the mastermind behind the OneCoin cryptocurrency scheme.
- This decision follows a joint investigation by Bulgarian and American authorities into an extensive financial fraud and money laundering operation associated with OneCoin.
- According to the FBI, this case is considered one of the largest financial frauds in history, involving defrauded victims amounting to over $4 billion.
Discover the latest developments in the OneCoin financial fraud investigation, including international efforts to capture the elusive Ruja Ignatova and dismantle one of the biggest schemes in the cryptocurrency world.
One Of The FBI’s Most Wanted
In a recent announcement, Bulgaria’s interim chief prosecutor, Borislav Sarafov, outlined the joint efforts between Bulgarian and US law enforcement to apprehend Ruja Ignatova. She faces serious charges stemming from her role in the OneCoin cryptocurrency scheme, which has led to significant financial losses worldwide.
Sarafov also mentioned upcoming legal actions in Bulgaria that aim to prosecute Ignatova in absentia and recover assets obtained through the fraudulent scheme.
US Ambassador Kenneth Merten emphasized the severity of the accusations against Ignatova, underscoring the massive financial impact and the numerous victims of OneCoin. He highlighted the collaborative international efforts to bring her to justice.
Plamen Tonchev, head of Bulgaria’s State Agency “National Security” (SANS), elaborated on Ignatova’s pivotal role, describing OneCoin as a sophisticated financial operation with characteristics closely resembling a traditional pyramid scheme.
The Rise And Fall Of OneCoin
OneCoin’s story began in 2014, founded by Ruja Ignatova, who promoted it as a legitimate cryptocurrency. However, investigations revealed a lack of a real blockchain or payment infrastructure.
Suspicion grew as inquiries from multiple countries identified it as a pyramid scheme. Early warnings came from entities such as the Norwegian Direct Selling Association in March 2016 and the Hungarian Central Bank in May 2016, both cautioning against OneCoin’s fraudulent nature.
In 2017, the company falsely claimed a Vietnamese government endorsement, which was quickly debunked. Shortly after, Bulgarian authorities raided OneCoin’s offices, leading to Ignatova’s sudden disappearance.
Leadership transitioned to her brother, Konstantin Ignatov, after her vanishing act. Co-founder Sebastian Greenwood was arrested in 2018, and Konstantin was subsequently detained in November 2019, pleading guilty to multiple charges of fraud and money laundering.
Ruja Ignatova has been evading capture since fleeing from Sofia to Athens in 2017. In 2022, she was added to the FBI’s 10 Most Wanted Fugitives list, emphasizing the ongoing challenge to secure her arrest.
Conclusion
The OneCoin investigation underscores the vast reach and significant financial impact of fraudulent cryptocurrency schemes. The cooperative efforts of Bulgarian and US authorities highlight the ongoing pursuit of justice and the importance of international collaboration in tackling financial crime. With the promise of a substantial reward, the hope remains that Ruja Ignatova will be apprehended, bringing a closure to one of the largest crypto fraud cases to date.
