Crypto Opinions & News Missing Cryptoqueen : FBI adds Ruja Ignatova to Top Ten Most Wanted

[upnorth]

Content source

https://www.bbc.com/news/world-us-canada-62005066

The Bulgarian woman, believed to be in her 40s, is wanted for her alleged role in running a cryptocurrency scam known as OneCoin.

Federal investigators accuse the fugitive of using the scheme to defraud victims out of more than $4bn (£3.2bn). She has been missing since 2017 when US officials signed an arrest warrant and investigators began closing in on her. In 2014, OneCoin, a self-described cryptocurrency, began offering buyers commission if they sold the currency on to more people. But FBI agents say OneCoin was worthless and was never safeguarded by the blockchain technology used by other cryptocurrencies. According to allegations made by federal prosecutors, it was essentially a Ponzi scheme disguised as a cryptocurrency.

Missing Cryptoqueen: FBI adds Ruja Ignatova to top ten most wanted

Ruja Ignatova is accused of defrauding victims out of $4bn (£3.2bn) through a cryptocurrency scam.

www.bbc.com

 

[upnorth]

A co-founder of the fraudulent OneCoin cryptocurrency has been sentenced to serve 20 years in a US prison.

Sebastian Karl Greenwood colluded with others, including the so-called "Cryptoqueen" who is now on the FBI's top 10 Most Wanted list, officials say. They are accused of scamming more than $4bn (£3.2bn) from investors. Greenwood, 46, a citizen of the UK and Sweden, was arrested in Thailand in July 2018. He pleaded guilty to wire fraud and money laundering in December. Officials say OneCoin, which was founded in 2014 in Bulgaria, functioned as a global pyramid scheme. Greenwood started and ran the company with Ruja Ignatova, the so-called Cryptoqueen who has not been seen since vanishing in Greece in 2017.

OneCoin sought to benefit from the success of Bitcoin, officials say, and "used the notoriety of Bitcoin to convince investors that OneCoin was the next 'can't miss' investment opportunity".
"In reality, unlike legitimate cryptocurrencies, OneCoin had no actual value and was conceived of by Greenwood and Ignatova as a fraud from day one," prosecutors with the US Attorney's Office for the Southern District of New York said in a news release on Tuesday.

Cryptoqueen: Accomplice jailed for 20 years for OneCoin financial scam

Sebastian Karl Greenwood was sentenced by a US judge for the massive scam that stole billions from investors.

www.bbc.com

 

[MuzzMelbourne]

Silly woman, should have used her talents to get a job as a CEO of a national airline or a bank. She could have got away with the same thing quite legally.