TLDR
- Ruja Ignatova, known as the “Cryptoqueen,” has been hit with a global asset freeze order by a UK court.
- The freeze is part of a group action brought by over 400 OneCoin investors seeking compensation.
- OneCoin was a $4.5 billion cryptocurrency scam, and Ignatova has been missing since 2017.
- The freezing order also targets seven other individuals and four companies allegedly connected to OneCoin.
- US authorities are offering a $5 million reward for information leading to Ignatova’s arrest.
Ruja Ignatova, the elusive figure behind the $4.5 billion OneCoin cryptocurrency scam, has been hit with a global asset freeze order by the UK’s High Court of Justice.
Known as the “Cryptoqueen,” Ignatova has been missing since 2017 when she was last seen boarding a Ryanair flight to Athens, Greece.
The freezing order, made public on August 7, 2024, is part of a group action brought by more than 400 OneCoin investors seeking compensation for their losses. The order prevents Ignatova’s assets from being sold or moved, potentially paving the way for victims to recover some of their investments.
Jennifer McAdam, who spearheads the group action, lost over £200,000 along with her friends and family in the OneCoin scheme. “I have seen first hand the toll this fraud has taken on so many lives,” McAdam stated. “The stories of victims are utterly heart-breaking and the financial ruin they have been left in is unbearable.”
The scope of the freeze extends beyond Ignatova, targeting seven other individuals and four companies allegedly connected to OneCoin. Among those named are Sebastian Greenwood, OneCoin’s co-founder, who is currently serving a 20-year sentence in a US prison for his role in the fraud.
British businessmen Christopher Hamilton and Robert MacDonald, accused by US authorities of laundering OneCoin proceeds, are also subject to the freeze. Their extradition to the US to face trial has been unsuccessful so far.
The order also affects two Guernsey companies linked to Ignatova’s real estate purchases in London, including a £13.5 million Kensington penthouse and a £1.9 million apartment for her bodyguards.
OneCoin promoters Kari Wahlroos, Muhammad Zafar, Moynul Islam, and Monirul Islam are included in the freeze. These individuals, while potentially victims themselves, are alleged to have made significant sums through recruiting more investors to the scheme.
The global search for Ignatova continues, with US authorities offering a $5 million reward for information leading to her arrest. The FBI has placed her on their Ten Most Wanted list, highlighting the severity of her alleged crimes.
OneCoin, launched in 2014, marketed itself as a cryptocurrency investment opportunity. However, investigators found it to be a Ponzi scheme that defrauded investors worldwide. In the UK alone, it’s estimated that OneCoin investors lost more than £100 million.
Several of Ignatova’s associates have already faced legal consequences. Her brother, Konstantin Ignatov, pleaded guilty to money laundering and fraud in 2019. After cooperating with US investigators, he was freed after serving three years. OneCoin lawyer Mark Scott was found guilty of bank fraud and money laundering, receiving a 10-year sentence in 2024.
The ongoing legal actions and asset freezes represent efforts to bring justice to the victims of the OneCoin scam. Law firm Mishcon de Reya, representing the OneCoin investors in the group claim, stated that the claim remains open for additional claimants to join.
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