Ruja Ignatova, the fugitive founder behind the One Coin crypto project that fleeced investors of $4 billion is reportedly in Russia according to fresh reports.
The One Coin founder has been missing since 2017 and repeatedly fled to Russia to avoid extradition and a possible lengthy sentence.
Russia is the latest country to be speculated by the press to be incubating Ignatova also known as the “Crypto Queen”. Previous reports cited South Africa and Germany.
$4 Billion Crypto Pyramid Scheme Scam
Ruja Ignatova started “One Coin” a massive global crypto project in 2014. The project turned out to be a pyramid scheme that fleeced investors of over $4 billion. Ignatova disappeared when the authorities came looking for her and has remained at large since then.
Various reports since her disappearance have been mere speculations with no solid proof behind them. Ignatova boarded a flight to Athens on October 25, 2017, and hasn’t been seen since then.
The One Coin project attracted investors from all over the world including Nigeria and Africa.
According to a Vice documentary, The project employed an astute team of multi-level marketers who sold the coin as the next bitcoin set to revolutionize Global finance.
Ruja backed up the multi-level marketing efforts with high-profile appearances featuring on the cover of Forbes Bulgaria and speaking at an event hosted by the Economist magazine.
The Bubble burst when the United States Department of Justice in Early October 2017 issued a sealed arrest warrant for her. She boarded a flight to Athens and disappeared.
Alleged Ties to the Russian and Ukrainian Government
Frank Schneider, Ignatova’s former security advisor, supposedly alleged that the OneCoin founder was involved with Kremlin officials.
- Ex-Bellingcat investigator Yoran Tsalov also reportedly tied the crypto queen to ex-Ukrainian president Viktor Yanukovich. Yoran claimed Yanukovich was one of OneCoin’s financial backers and that the crypto queen laundered money for the ex-Ukrainian president.
- The speculations around the whereabouts of Ignatova have mounted over the years with German investigators believing the fugitive is hiding in Cape Town South Africa.
- Bulgarian police speculated that Ignatova who is a Bulgarian might be deceased with her remains carefully disposed of. The hunt for the crypto queen continues despite the shallow evidence about her whereabouts.
The United States Department issued a $5 billion bounty for any information that would lead to her capture.
What to Know
- Several years after the disappearance of Ruja Ignatova, One Coin was still operating with many of the offices still open and investors in Africa still buying the token.
- The One Coin project scam remains one of the largest rogue projects in the crypto industry fleecing investors of over $4 billion
