Ruja Ignatova, one of the biggest scammers in history, was the brain behind OneCoin’s Ponzi scheme.
The fraudulent cryptocurrency-based investment scheme lured many investors.
BBC called Ruja IgnatovaThe Missing Crypto Queenin its 2019 podcast series.Is the Bulgarian fraudster behind bars?
Ruja Ignatova, the founder of OneCoin. Photo: @LeaderSokneov001Source: Facebook
Find out more in this article!
Ruja Ignatova’s story serves as a warning to those looking for quick money.
What is the difference between a Ponzi scheme and a pyramid scheme?
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Unlike a pyramid scheme, the One Coin members did not recruit people.
Investors believed profits came fromlegit businesses.
They were unaware that earlierinvestorsearned from new ones.
Ruja Ignatova’s age is 41 years since her birthday is on 30th May 1980. Photo: @OneCoinOfficialPageSource: Facebook
In 2005, she graduated with a PhD in European private law from the University of Konstanz.
In 2012, German authorities convicted her of fraud.
The company she was linked to filed for bankruptcy shortly after she purchased it.
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This, however, did not stop her.
Thecourtgave her a 14-month suspended sentence.
Ignatova was also involved in another multi-level marketing (MLM) scheme called BigCoin.
She invested a lot of money in marketing her brand. Photo: @OneLifeOfficialSource: Facebook
Unfortunately, BigCoin collapsed, leaving her with only OneCoin.
OneCoin’s history
Dr Ruja Ignatova worked for McKinsey before starting OneCoin.
It is an international asset management firm.
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She teamed up with Sebastian Greenwood and Konstantin Ignatov to establish Onecoin on 16th September 2014.
They registered it as an offshore company in Dubai and later registered a subsidiary Onelife web link in Belize.
However, they established OneCoin’s headquarters in Bulgaria.
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Ponzi offered clients packages connected to a blockchain data pipe.
In 2015, Bulgaria’s FSC (Financial Supervision Commission)warned the publicabout the project.
The scammers made them believe that OneCoin would soon take Bitcoin out of the market.
It is alleged that a member of a royal family from Dubai massively benefited from her business. Photo: @thebitcoinwalletSource: Facebook
Bjorn and Jen McAdam werethe whistleblowers.
The US authorities issued her warrant of arrest in January 2017.
Was Ruja Ignatova’s husband part of OneCoin?
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Although she urged him to takethe money and frame someone else, Strehl did not do it.
Hewas never part ofherfraudulent business.
The German-born lawyer currently works in Frankfurt.
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Strehl and Ruja Ignatova’s daughter was born in 2016.
Is OneCoin still operating?
OneCoin and Ponzimysteriously shut downin the same month Ruja went missing.
It fraudulently took $4 billion from global participants.
The FBI has been looking for Ruja for more than three years.
In early 2019, the US authorities charged her with several fraud-related crimes in absentia.
OneCoin’s attorney, Mark Scott, was also convicted of laundering $400 million in 2019.
Konstantin took over OneCoin’s leadership for some time before shutting it down.
He pleaded guilty to his crimes and is helpingauthorities to investigate the issue.
The Ponzi scheme victims' attorney, Dr Jonathan Levy, blames the unregulated digital currency ecosystem.
Ruja Ignatova’s 2020 whereabouts
Was Ruja Ignatova found?
The Behind MLM’s researchers link her disappearance to several locations in the UAE region, Russia and Greece.
Some people believe that Ruja Ignatova did plastic surgery, while others think she may be deceased.
The United Arab Emirates and the United States do not collaborate because they do not share an extradition treaty.
So, where is Dr Ruja Ignatova now?
The crypto queen has never been found.
The US authorities areeradicating more Ponzi schemeswhile looking for her.
Lou Pearlman: How did he make and break big boy bands with rogue deals?
What is Ruja Ignatova’s net worth?
The US authorities suspect Ruja received thebitcoinsfrom Sheik Saoud, an Emirati royal family member from Dubai.
Ruja Ignatova is not the only scammer in the world.
The US civil and criminal authorities uncovered 60 alleged Ponzi schemes worth $3.25 billion last year.
Bernard Madoff owned the largest Ponzi scheme in history.
We will share more details as they surface.
His death tookMzansiby surprise.
The actor/business mogul died of COVID 19 complications.
Mzansi expressed on social media how they will dearly miss Uncle Shona.
May the Lord comfort his wife and children.
She graduated from the University of Nairobi with a degree in Mass Communication in December 2014.
In 2023, Ruth finished the AFP course on Digital Investigation Techniques.
She has worked for Briefly.co.za for five years now.
She specializes in topics like lifestyle, entertainment, travel, technology, and sports.
Email: gitongaruth14@gmail.com.
