U.S. Department of State Increases Reward to $5M for Arrest of OneCoin Founder Ruja Ignatova
On June 26, 2024, the United States Department of State ramped up its endeavors to locate Ruja Ignatova, the founder of OneCoin, famously dubbed as the “Cryptoqueen,” who has been missing since her disappearance in Athens back in 2017. The FBI has elevated the reward amount to $5 million, a substantial increase from the previous $250,000, for any information aiding in the capture or conviction of Ignatova.
Ignatova is accused of various charges including conspiracy to commit wire fraud, money laundering, securities fraud, and orchestrating elaborate schemes that led to defrauding billions of dollars from investors across the globe through OneCoin Ltd.
Being on the FBI’s Most Wanted list since 2022, Ignatova also faces an indictment in Bulgaria, in absentia, for allegedly masterminding the $4 billion OneCoin cryptocurrency Ponzi scheme that victimized numerous people worldwide from 2014 until its collapse in early 2017.
Under the guise of investment opportunities, Ignatova and her cohorts allegedly lured individuals into transferring funds to OneCoin accounts for purchasing investment packages leading to significant losses. The extent of the fraud is estimated to be well over $4 billion.
The State Department has labelled OneCoin as “one of the largest global fraud schemes in history,” emphasizing the magnitude of the deception involved. Ignatova, a German national, is confronted with legal allegations in several countries, including Bulgaria, the United States, Germany, and India. Some of her associates have already been convicted and sentenced for their involvement in the scam.
While rumors swirl about the fate of Ignatova, including unconfirmed reports of her demise in 2018 allegedly orchestrated by a Bulgarian drug lord, her brother Konstantin Ignatov has cooperated with authorities, having recently been released from prison after assisting in the prosecution against one of the key figures of the scheme, Mark Scott, who received a 10-year prison sentence earlier this year.
The ongoing saga of the OneCoin scandal continues to unfold, underscoring the illicit activities that sparked a global manhunt for the elusive “Cryptoqueen.”
