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UK Freezes Ruja Ignatova’s Assets as Global Hunt Heats Up

DailyCoinDailyCoin2024/08/08 15:03
By:DailyCoin
  • OneCoin fraud perpetrator Ruja Ignatova is still on the run.
  • A newly issued court order threatens the Crypto Queen’s freedom.
  • Partial justice has been served in the OneCoin fraud case.

The crypto industry has seen its share of scandals, from large-scale heists to Ponzi schemes. However, only a few are as notorious as the OneCoin fraud. Orchestrated by the self-proclaimed ‘Crypto Queen’ Ruja Ignatova , this fraudulent scheme resulted in a billion-dollar financial implosion, landing her on the FBI’s most wanted list.

Despite years of unsuccessful legal efforts to bring Ignatova to justice, authorities are not relenting, now turning up the heat to draw her out of hiding.

Court Freezes Assets of Fugitive ‘Cryptoqueen’

The latest development in the hunt for the fugitive CryptoQueen is a recent order issued by the United Kingdom High Court of Justice.  According to a Wednesday BBC report , the London High Court has issued a global asset freezing order on Ignatova, blocking any transactions involving her assets.

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The freezing order was made at the request of over 400 OneCoin victims, led by one Jennifer McAdam, as part of a UK-based claim seeking compensation for losses incurred. The order extends beyond Ignatova to seven individuals and four organizations linked to OneCoin, all suspected to have been involved in the fraudulent scheme.

Ignatova’s assets freeze follows the increase in the bounty offered by the US Department of State in June, which raised the reward for information leading to her arrest up to $5 million. 

Despite the mounting efforts to bring her to justice, Ruja Ignatova remains at large. However, prosecutors have continued to capture her accomplices.

OneCoin Perpetrators Behind Bars

While Ruja Ignatova remains the face of the 2017 OneCoin fraud, she did not act alone. Today, several of the key figures connected to the scheme have been brought to justice.

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In December 2022, OneCoin’s founding partner, Sebastian Greenwood, pleaded guilty to the wire fraud and money laundering charges pressed against him by the U.S. Department of Justice (DOJ). Greenwood actively participated in the swindling scheme, earning 5% of monthly sales generated by users who recruited other members to purchase crypto packages in exchange for commissions. Following his arrest and subsequent period of legal proceedings, he was sentenced to 20 years in prison and fined $300 million.

Similarly, Konstantin Ignatov, Ruja Ignatova’s brother, faced justice for his role in the fraud. In 2019, he pleaded guilty to charges of fraud and money laundering and was sentenced to 34 months in prison. He was released in March 2024 upon completing his term.

Another executive, Irina Dilkinska, who served as OneCoin’s former head of compliance, was the latest to be charged with wire fraud and money laundering on March 21, 2024, following her extradition from Bulgaria. The 42-year-old lawyer was sentenced to four years in prison following a guilty plea and was ordered to forfeit $111.44 million of her illicit gains.

On the Flipside

  • Ruja Ignatova was last seen five years ago, and some have speculated that she may be dead.
  • The FBI suspects that the CryptoQueen holds a German passport and may have undergone plastic surgery to evade capture.

Why This Matters

The OneCoin fraud, masterminded by Ruja Ignatova, was a massive Ponzi scheme that resulted in hefty losses for victims and the broader industry. The recent global asset freeze imposed by the court could impose severe financial restrictions on Ignatova, potentially forcing her out of hiding and accelerating justice. 

Read more about the ongoing efforts by OneCoin victims to ensure justice:
U.K. Investors Seek Partial Redress from OneCoin ‘Cryptoqueen’

Grayscale Investments indeed has two new trusts in its product suite. Read this article to find out more:
Grayscale Expands Crypto Portfolio with Sui and Bittensor Trusts

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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