After defrauding investors and successfully escaping with $4 billion in funds, Ruja Ignatova, known as the Queen of Crypto, is reportedly on the FBI’s wanted list.
She is in the top 10 on the US Federal Bureau of Investigation’s wanted list.
OneCoin Founder Chased by the FBI
Ruja Ignatova, whose nickname is the queen of crypto, is reportedly being chased and wanted by the FBI due to her fraud.
She was pursued after being found guilty by several legal and financial authorities in America, such as the FBI, the Internal Revenue Service IRS, and the US Criminal Prosecutor’s Office.
The FBI also invites the American public to help find her in exchange for $100,000.
The government had wanted Ignatova since October 2017, when an arrest warrant was issued to authorities from America’s Supreme Court.
Ignatova was convicted of fraud, conspiracy to money laundering, stock fraud, and charges of a misdemeanour which will be discovered when further investigations are underway.
According to the investigating parties, Ignatova was charged based on involvement in a significant part of the fraud operation.
They believe that Ignatova made many investors lose money since 2014 without being noticed by the public and law enforcement.
After it was discovered by law enforcement, investigations continued, and it was found that the losses amounted to billions of US dollars.
What’s surprising about this case is that after being traced, it turns out there has never been a coin or crypto token created under the name OneCoin.
So, Ignatova managed to take funds from investors of $ 4 billion by creating a Ponzi scheme where investors bought promises to her for potential profits.
What Is OneCoin?
Ruja Ignatova was the mastermind behind the scheme, later named OneCoin.
OneCoin has an official name and is registered in Bulgaria as a company called OneCoin Ltd.
This company claims to operate like IOHK or Input Output Hong Kong, the company that publishes Cardano.
But the difference is that IOHK created Cardano, but OneCoin Ltd. does not create any crypto.
Upon inspection, it turns out that OneCoin does not own any product; it does not own a blockchain or tokens and coins that move on the blockchain.
Many investors have been fooled by the way Ignatova talks through the dreams she sells.
It also takes advantage of the current state of the crypto market, which offers investors the opportunity to appreciate a very high investment value.
Fugitive Ignatova used her app to make it look as if there was a crypto project involved in the multi-level marketing Ponzi scheme she was using.
When selling OneCoin, Ignatova will ask investors to create a OneCoin account and then make a deposit and purchase the OneCoin investment package.
As a result, investors will send funds from their accounts to these accounts to make purchases. Ignatova is a great seller; a single transaction can run hundreds to thousands of US Dollars.
Some of the victims he attracts are also investors with unfavourable economic conditions where the investment money is not demanding money or money that is willing to be used for losses.
So that when it was officially declared a fraud case, many victims took revenge and looked for Ignatova to this day. This reason is also why, from 2017 until now, Ignatova is still in hiding.
So far, there is no information about his whereabouts. But he is still wanted and is on the highest wanted lists in several countries, including America, Britain, and all countries in the European Union.
The hope is that with the help of the FBI, Ruja Ignatova will be found soon, given the high success rate of the FBI in catching fugitives.
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