Home World News How ‘Cryptoqueen’ Scammed Investors Out of $4 Billion, Boarded a Flight and Disappeared

How ‘Cryptoqueen’ Scammed Investors Out of $4 Billion, Boarded a Flight and Disappeared

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How ‘Cryptoqueen’ Scammed Investors Out of $4 Billion, Boarded a Flight and Disappeared

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Last Updated: January 23, 2023, 19:12 IST

Washington, United States

Ruja Ignatova called herself the 'Cryptoqueen' and touted her company, OneCoin, as a lucrative rival to Bitcoin. (Screengrab: Youtube)

Ruja Ignatova referred to as herself the ‘Cryptoqueen’ and touted her firm, OneCoin, as a profitable rival to Bitcoin. (Screengrab: Youtube)

The fraud scheme started in 2014 when Ruja Ignatova defrauded billions of {dollars} from traders globally by way of OneCoin, a cryptocurrency firm she based

Ruja Ignatova, the self-styled ‘Cryptoqueen’ who allegedly led one of the world’s largest cryptocurrency scams, options within the FBI’s most-wanted fugitives for swindling tens of millions of traders of greater than $Four billion by way of her cryptocurrency firm.

Her title options amongst FBI’s 10 most needed fugitives, which embody gang leaders and murderers and she is the one lady on that record. The FBI record has 529 fugitives because it was launched in 1950 and Ignatova is one of simply 11 girls, CNN reported.

The fraud scheme started in 2014 when Ruja Ignatova defrauded billions of {dollars} from traders globally by way of OneCoin, a cryptocurrency firm she based.

In June 2016, when cryptocurrency was nonetheless an rising buzzword and traders have been scrambling to money in, Ignatova projected OneCoin as a profitable rival to Bitcoin within the rising cryptocurrency market.

“In two years, nobody will speak about Bitcoin anymore,” she stated, as traders applauded and cheered.

However, a 12 months and a half later in October 2017, she boarded a airplane in Sofia, Bulgaria and vanished. She was by no means seen since then.

Her disappearance got here round a time when the US authorities had filed a sealed indictment and warrant for her arrest.

“On October 25, 2017, Ignatova traveled from Sofia, Bulgaria, to Athens, Greece, and may have travelled elsewhere after that. She may travel on a German passport to the United Arab Emirates, Bulgaria, Germany, Russia, Greece and/or Eastern Europe,” the FBI round reads.

According to federal prosecutors, Ignatova’s OneCoin is one of the biggest worldwide fraud schemes ever perpetrated. Her firm operated throughout the globe and had over three million traders from greater than a hundred nations.

The ‘cryptoqueen’ had made inaccurate representations to get enormous quantities of funds from traders, as many of them didn’t utterly perceive tips on how to spend money on cryptocurrency, investigators stated.

“In fact, OneCoins were entirely worthless … (Their) lies were designed with one goal, to get everyday people all over the world to part with their hard-earned money,” US Attorney Damian Williams, New York’s prime prosecutor, stated in a assertion.

Ignatova is a German citizen however was born in Bulgaria, the place her father was an engineer and her mom was a trainer. According to a report in Outlook, she had a regulation diploma from Oxford University and a stint with consulting agency McKinsey.

Since her disappearance in October 2017, posters along with her face has been plastered on the FBI web site and throughout main information shops. She’s additionally one of essentially the most needed fugitives in Europe.

“Ignatova is believed to travel with armed guards and/or associates. Ignatova may have had plastic surgery or otherwise altered her appearance,” a word on the backside of her FBI needed poster reads.

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