Lawsuit Claims Onecoin’s ‘Cryptoqueen’ Ruja Ignatova Holds 230,000 Bitcoin – Bitcoin News
One of many ringleaders of the most important crypto Ponzi schemes, Onecoin’s Ruja Ignatova, in any other case referred to as the “Cryptoqueen,” allegedly owns 230,000 bitcoin value over $11 billion at the moment. Courtroom paperwork filed by victims of the Onecoin scheme point out that she obtained the bitcoins from a member of an Emirati royal household in Dubai.
Onecoin’s Cryptoqueen Might Have $11 Billion in Bitcoin
Onecoin’s Ruja Ignatova is a mysterious lady who has been on the run for over three years now. Ignatova based Onecoin in live performance with Sebastian Greenwood and her brother, Konstantin Ignatov. The Onecoin Ponzi was a multi-level-marketing (MLM) enterprise that featured packages that had been ostensibly tethered to a blockchain community.
Ignatova and her cohorts informed the general public that Onecoin could be essentially the most dominant crypto asset and finally be a “bitcoin killer.” As a result of its organizational construction and fraudulent claims, the crypto group instantly warned individuals about Onecoin’s operations.
Onecoin began on September 16, 2014, and by 2015, Bulgaria’s Monetary Supervision Fee (FSC) issued a warning in regards to the challenge. The Ponzi’s headquarters was Bulgaria-based, nonetheless, it was registered as an offshore firm in Dubai and its subsidiary Onelife Community was registered in Belize.
On the finish of 2016, cracks began to indicate and investigators mentioned the challenge by no means used any sort of blockchain know-how. In 2017, U.S. regulation enforcement despatched a secret warrant for Ignatova’s arrest and the Cryptoqueen disappeared.
Sebastian Greenwood was arrested in 2018 and her brother Konstantin Ignatov was arrested in Los Angeles in March 2019. Since then, the founders have been coping with a number of courtroom instances as U.S. prosecutors alleged Onecoin fraudulently took in $4 billion from international individuals.
Konstantin Ignatov pleaded responsible to fraud and cash laundering in November 2019 however the Cryptoqueen has by no means been caught. Now a courtroom submitting from victims of the Onecoin scheme reveals that Ruja Ignatova might have billions in bitcoin.
Ruja Ignatova’s Dubai Perks and Her Alleged Relationship With a Member of an Emirati Royal Household
Reports point out that the Cryptoqueen might have an account in Dubai value $500 million however paperwork additionally allege that Ruja Ignatova may have obtained 230,000 BTC. The studies declare that she received the $11 billion value of bitcoins from Sheik Saoud who’s the son of one of many wealthiest people in Dubai.
The precise particulars of the transactions are unclear however the deal allegedly occurred in October 2017 when BTC was buying and selling for round $6k per unit. Behind MLM says that the Cryptoqueen’s alleged relationship with Sheik Saoud “got here with perks.”
Ruja Ignatova had been in a position to get hold of “Diplomatic credentials” from the Intergovernmental Collaborative Motion Fund for Excellence (ICAFE) and the United Arab Emirates (UAE). Behind MLM’s report stresses “Ignatova was in a position to journey with impunity.” An article revealed by monetary columnist Rick Steves explains that former actual property agent Mimoun Madani was additionally concerned.
“The Ponzi scheme funneled billions to banks and actual property in Dubai the place they had been allegedly aided by His Excellency Sheikh Saoud bin Faisal Al Qassimi and a former actual property agent Mimoun Madani,” Steves wrote. The reporter additionally described the transaction between the rich people primarily based within the UAE who allegedly gave her 1000’s of bitcoins. The article notes:
Sheikh Al Qassimi, in a well-documented and witnessed transaction, handed 4 onerous wallets (USB units) containing 230,000 Bitcoins then value about $50 million in alternate for the now frozen [Onecoin] financial institution accounts, different belongings, and actual property within the UAE value maybe $1 billion.
Behind MLM researchers say that Ignatova’s disappearance has been attributed to a couple places and presumably demise. A myriad of studies over the previous couple of years assume Ignatova might be situated within the UAE area, Russia or Greece. The researchers additional clarify that the United Arab Emirates and the US don’t share an extradition treaty.
The lawyer representing the victims Dr. Jonathan Levy blames the scenario on the digital forex ecosystem generally.
“Regulators appears oblivious to the very fact the cryptocurrency’s most important objective is to facilitate and reward criminals like Ruja Ignatova. It’s no coincidence that Ignatova is the principle beneficiary of the Bitcoin bubble,” Levy, the plaintiff’s lawyer harassed.
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