- Within a year, the pair processed 320M euros in payments from Onecoin users.
- Ignatova is now sought by Interpol, Europol, and the FBI.
The first Europeans to face criminal prosecution for their involvement in the Onecoin crypto fraud are a married couple and a lawyer from Munich. Bloomberg said that they had a court appearance in Germany on Tuesday.
They are suspected of participating in a multibillion-dollar fraud conspiracy. And have been charged with money laundering, fraud, and banking offenses. Ruja Ignatova, a German citizen of Bulgarian descent who is known as the “Cryptoqueen,” is the pyramid’s founder and manager.
Significant Money Looted
A total of €75M was spent on the two London flats. And it is believed that Ignatova’s attorney sent €20M to the Cayman Islands to cover the cost. Within a year, the pair processed 320M euros in payments from Onecoin users.
The pyramid scheme misled its victims in Germany by making them believe that Onecoin was a cryptocurrency whose value was set by the market. Potential backers were also informed that a pace of 50,000 coins per minute was achievable in mining.
After the departure of Ruja Ignatova, police enforcement in Bulgaria searched the Sofia headquarters of Onecoin, which had been created in 2014. On October 25th, 2017, the Cryptoqueen was last spotted boarding a Ryanair aircraft destined for Athens.
Due to her theft of at least $4 billion from Onecoin customers. Ignatova is now sought by Interpol, Europol, and the FBI. In July, Greek media reported that this year the Hellenic Police had unsuccessfully sought to identify and arrest her based on evidence that she met with specific people.
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