Luzha Ignatova, Bounty of 130 Million Won... Phantom Coin Pyramid Scheme Fraud
[Asia Economy Reporter Kim Hyunjung] An international fraudster who embezzled $4 billion (approximately 5.206 trillion KRW) in investment funds using the ghost cryptocurrency 'OneCoin' as bait has been added to the FBI's list of top ten most wanted fugitives.
According to Bloomberg on the 30th (local time), the FBI added OneCoin Ponzi scheme fraudster Ruja Ignatova to its top ten most wanted list. Known as the so-called 'Crypto Queen,' Ignatova is accused of raising $4 billion by soliciting investments in a phantom cryptocurrency that was never issued, and embezzling the funds. The reward for her capture is $100,000.
On the surface, Ignatova has an impressive background. She studied law at Oxford and is known to have worked at McKinsey. However, she now shares the spotlight with global crime bosses, murderers, and kidnappers.
Europol, the European Union (EU) law enforcement agency, also designated Ignatova as a major wanted person last month and offered a reward of 5,000 euros (approximately 6.8 million KRW).
According to the U.S. prosecutors and FBI, Ignatova, a German citizen, founded OneCoin in Bulgaria in 2014. Over the next three years, she attracted 3 million investors worldwide, including in the U.S., by urging them to join the 'OneCoin financial revolution,' and embezzled investment funds through a pyramid scheme.
After realizing that investigations into the crime had begun, she fled to Greece and disappeared. In March 2019, U.S. authorities arrested Ignatova's younger brother, Konstantin Ignatov, in Los Angeles (LA) on charges of fraud and money laundering. In November of the same year, lawyer Mark Scott was convicted for assisting Ignatova.
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