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27/06/24
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U.S. Authorities Increase Reward on Information About OneCoin Founder
U.S. authorities are still working to determine the whereabouts of OneCoin founder Ruja Ignatova. The Department of State now wants to offer a $5 million reward to anyone with information that can lead to her arrest and conviction.
Ignatova was added to the Federal Bureau of Investigation’s (FBI) “ten most wanted fugitives” list two years ago, promising a reward of $100k for anyone with information about her whereabouts. Last year, they increased the reward to $250k but no one knows where she is currently located. Her last confirmed location was in Athens seven years ago.
According to the FBI’s report, she held a German passport and “may have had plastic surgery or otherwise altered her appearance.” OneCoin was created by Karl Sebastian Greenwood and Ruja Ignatova; they marketed and sold a fraudulent crypto by the same name via a global multi-level-marketing network, with numerous victims investing more than $4 billion in the fraudulent crypto.
The OneCoin member network grew rapidly due to the MLM structure, with the firm’s promotional materials showing that more than three million people invested in fraudulent crypto packages. According to its records, OneCoin was able to generate €4.037 bn in sales revenue and earned profits of €2.735 bn between Q4 2014 and Q4 2016.
Two months ago, the U.S. Attorney’s Office of the Southern District of New York revealed that Irina Dilkinska was sentenced to four years imprisonment for her involvement in the OneCoin fraud scheme. Likewise, Dilkinska was sentenced to one month of supervised release and will forfeit $111 million as restitution.
Five years ago, Ignatova’s brother, Konstantin Ignatov, pleaded guilty to fraud and money laundering charges related to his role in the fraudulent scheme. He was released three months ago after spending thirty-four months in prison.
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