With Onecoin, she would become the new number one in the crypto market. She promised investors big business. Now Europol is looking for founder Ruja Ignatova.
She was on the cover of Forbes magazine. Held in Bangkok, London and Frankfurt them in sold-out stadiums Talking about their cryptocurrency Onecoin. Ruja Ignatova promised that her digital currency would become number one in the market.
Ignatova is often called the “crypto queen” by the media. Millions of people believed in the virtual currency she invented. This was only found in a few sales presentations, Excel spreadsheets and on questionable websites. The extent of the damage caused by Onecoin is still unclear to this day. US authorities are talking about four billion dollars, e.g. buzz feed reported.
Now the founder is on Europol’s “Europe’s Most Wanted” list. The European Police Office now wants to search for her via social media in 194 countries.
In 2017, Ruja Ignatova went into hiding. Her brother Constantine took over the business. He was arrested shortly after in Los Angeles and has been cooperating with the FBI ever since. He told U.S. security agencies that he was once called by an alleged Hells Angels leader. He ordered him to Zurich. In Switzerland, he was threatened that the money the rockers had invested in Onecoin was worth more than his life.
The “crypto queen” is accused of money laundering and common fraud in a particularly serious case. A reward of € 5,000 has been offered for information leading to her arrest.
Big promises, nothing behind them
The Onecoin saga began in 2014. Together with other comrades-in-arms, the Bulgarian founded a cryptocurrency that was supposed to be superior to Bitcoin in all respects. She promised wealth to all those who jumped to early. A chart that Ignatova was happy to show should show an extreme increase in the value of cryptocurrency. From 50 cents to the alleged 29.95 euros in 2019. In fact, the value of the coin is said to be determined internally and not based on supply and demand, as a U.S. Attorney’s Office document indicates. But the US authorities stress that it was never a real cryptocurrency with independent pricing. The “revolutionary” coin is more comparable to classic network marketing: If investors convinced others of a training package, they received a commission. If, in turn, they got more customers, you collected a few percent more.
According to Europol, Ignatova “as the driving force and intellectual inventor of the supposed cryptocurrency Onecoin prompted investors around the world to invest in this virtually worthless” currency “. The European Police Organization also warns that the person wanted or any accompanying persons may be armed.
“Take the money and run”
Three years ago, US prosecutors spoke of a “multi-billion dollar pyramid scheme around a fraudulent cryptocurrency”. Emails between Ignatova and the co-founder are said to show Onecoin’s “exit strategies”. One of them, according to the U.S. Attorney’s Office document, was, “Take the money and run and blame someone else for it.”
A nearly six hour long one Podcast series of the British news channel BBC deals with fraud and the disappearance of the “crypto queen”. There is speculation about complex facial surgeries, the mafia and meetings with Russian-speaking men in Athens. According to “Spiegel‘Ignatova is said to have been last seen in the Greek capital Athens. She is said to have flown there from Sofia on October 25, 2017. At a low cost airline.
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