THELOGICALINDIAN - Following his arrest by authorities at LAX airport Konstantin Ignatov baton of the OneCoin ponzi betray now faces accuse His sister Ruja who founded OneCoin additionally faces assorted accuse of artifice and money bed-making although currently charcoal at large
OneCoin To Rule Them All
Ruja Ignatova created OneCoin in Bulgaria in 2024 and it generated $3.8 billion in acquirement by Q3 2024, according to prosecutors. The OneCoin ‘tokens’ rose in declared amount from 50 euro cents to about €30 — admitting the actuality that the ‘digital currency’ had no blockchain, no utility, and no way of ecology it.
In archetypal Ponzi style, it relied on a connected breeze of money from new investors — which absolute associates accustomed commissions for recruiting. The cryptocurrency media quickly alleged out OneCoin as an MLM pyramid scheme, and authorities followed clothing in an accretion cardinal of countries.
However, the activity soldiered on, alike activity so far as to announce an antecedent accessible alms (IPO) in aboriginal 2017. Before this could happen, Ruja Ignatova abolished from the accessible eye, with her brother, Konstantin, demography the reins in 2018.
Sweet Dreams, My LA Ex
Konstantin Ignatov’s arrest at the Los Angeles International Airport was on accuse of conspiring to accomplish wire fraud. Authorities accept additionally accusable Ruja Ignatova in absentia for money bed-making — and wire and balance fraud.
Manhattan US Attorney, Geoffrey Berman, said in a statement:
New York County District Attorney Cyrus Vance added that: “These defendants accomplished an old-school pyramid arrangement on a new-school platform.”
Scamming Until The Very End
Prior to his arrest, Ignatov had catholic to the United States to accommodated OneCoin affiliates. During a affair in Los Vegas, one asked back associates would be able to ‘cash out’ their OneCoins. His appear acknowledgment was:
That was possibly the best atrociously honest admonition OneCoin investors anytime received.
If begin guilty, Ignatov’s allegation carries a best book of twenty years in prison. However, if his sister is caught, again her accumulated accuse could see her absorb eighty-five years abaft bars.
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