The lawsuit against notorious crypto fraud scheme, OneCoin, alleges that the scheme’s mastermind Ruja Ignatova, who is also famously known by the titled “Cryptoqueen” is holding US$ 11 Billion worth of Bitcoins. Complainants claim that the Cryptoqueen got 230,000 Bitcoins from a member of notable Arab Royal families.
Ignatova or the Cryptoqueen is absconding from the law for the past three years or so. She was the person behind founding one of the notorious crypto fraud schemes ever known as “OnceCoin”. The scheme was a multi-level-marketing scheme, which is known as MLM, which offered crypto packages tethered with blockchain.
When the scheme was launched, Ignatova committed to the public that the scheme would kill Bitcoin’s dominance. She claimed that the cryptocurrency established by her company namely OneCoin would dominate the entire crypto industry. But until the public would come to know that OneCoin was a fraud, it already took huge sums from the investors. However, when people were warned about the truth regarding OneCoin, it was too late then. The truth of OneCoin was revealed by no law enforcement agencies but by the crypto community.
The scheme was launched in Bulgaria in 2014. The Financial Supervision Commission of Bulgaria issued a nationwide warning to the public a year later. When a global investigation was carried out against OneCoin, various jurisdictional authorities revealed shocking facts. For instance, in 2017, the authorities in the US found that the company was never connected to the blockchain. Thereafter, the US authorities issued warrants of arrest of Ignatova but since then Ignatova has been absconding successfully.
However, the US authorities were able to arrest her cohorts namely Konstantin Ignatov and Sebastian Greenwood. Both arrests were made on US soil in 2018 and 2019 respectively. Konstantin Ignatov is known to be the real brother of the Cryptoqueen.
After the arrests, a lawsuit was filed in the Courts of US against Ignatova, her company, and her accomplices. While the arrested individuals have been facing the trial, yet Ignatova is avoiding the process of law. The complainants, who were the investors of OneCoin, have claimed that Ignatova is in possession of 230,000 Bitcoins. As per today’s exchange rate, she is allegedly holding Bitcoins worth approximately US$ 11 Billion.
The complainants have further claimed that a member of an Arab Royal family has provided Ignatova with Bitcoins.
