Ruja Ignatova, ‘Cryptoqueen’ Wanted For N1.6 Trillion Crypto Scam, US Govt. Places 41.5bn Bounty
- Ruja Ignatova, who ran a Ponzi Cryptocurrency Scheme has been declared wanted by the US government for $4 billion scam
- Ignatova, who was known as Crypto Queen, ran OneCoin, a crypto pyramid in Bulgaria and defrauded investors after promoting it as the next Bitcoin
- She was charged in 2019 with eight counts of wire fraud and crypto scam after disappearing in 2017 when warrant was issued for her arrest
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A self-styled crypto queen, Ruja Ignatova has been declared wanted by the US Federal Bureau of Investigation (FBI), a US Department of Justice.
Ignatova is among the 10 most wanted fugitives on the FBI’s list.
OneCoin, a worthless cryptocurrency
The FBI also offered a $100 million, the equivalent of N41.5 billion reward for her capture. Ignatova has been missing since 2017 and is charged with a momentous Ponzi scheme, according to a Nairametrics report.
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CNN report said that she was charged in 2019 with eight counts including wire fraud and securities fraud, saying she ran a Bulgaria-based OneCoin Limited as a pyramid scheme, enticing members of the public to buy a useless cryptocurrency.
The Department of Justice accused her and others of defrauding billions of dollars from investors across the globe through the promotion of OneCoin, the FBI listing said.
The 42-year-old was the head of OneCoin until October 2017, when an arrest warrant was issued for her and she was charged in the US District Court for the Southern District of New York.
A queen on the run
OneCoin promoters argued that investors could mine it as a cryptocurrency with a maximum supply of 120 billion units which was first presented in 2014, promising investors that OneCoin is the next Bitcoin.
It turns out that OneCoin did not have a blockchain, unlike Bitcoin.
According to CNN, Ignatova disappeared in 2017 after she bugged an apartment belonging to her American boyfriend and learned that he was assisting the FBI. She left Bulgaria for Greece and has not been sighted since.
Kim Kardashian, Floyd Mayweather dragged to court by Crypto investors over scam
Recall that Legit.ng reported that crypto investors have taken reality television star, Kim Kardashian and boxing superstar, Floyd Mayweather to court for scamming them of a failed crypto known as EthereumMax.
The duo was paid to hype the blockchain-based digital token to their fan which caused investors to buy them, thereby losing investments at exaggerated prices, according to Fortune, which quoted a complaint filed in Los Angeles federal court.
Kim Kardashian, the ex-wife of music star, Kanye West was called out in September for deceiving her 250 million Instagram followers into investing in what was called a crypto bubble.