Ruja Ignatova, the woman wanted by the FBI for her role in the staggering $4.5 billion OneCoin cryptocurrency scam, is now facing a global asset freeze. This action comes as part of a group effort by investors seeking compensation for their significant losses.
Known as the Missing Cryptoqueen, Ignatova has not been seen since disembarking from a Ryanair flight in Athens, Greece, over six years ago. Recent reports have linked her to the Bulgarian underworld and a suspected organized crime boss involved in her disappearance. Despite ongoing efforts, investors have struggled to secure compensation, mirroring the elusive search for Ignatova. In an effort to entice information leading to her capture, U.S. authorities are offering a reward of $5 million (£4 million).
The global freezing order, revealed at London’s High Court, is part of a lawsuit initiated by over 400 OneCoin investors, spearheaded by Jennifer McAdam, who claims she and her family lost over £200,000. “The toll this fraud has taken on many lives is heart-breaking,” she stated. McAdam first shared her experience in 2019 through the BBC’s Missing Cryptoqueen podcast, having initially encouraged friends and family to invest before discovering the scam. The BBC estimates that investors in the UK alone lost upwards of £100 million.
The claimants are represented by law firm Mishcon de Reya, and the opportunity remains open for more investors to join the legal action. Rhymal Persad, a partner at the firm, noted, “Only those investors who sign up will be able to receive any damages that are recovered.”
The freezing order not only targets Ignatova but also involves seven others and four companies linked to OneCoin. Among those affected is co-founder Sebastian Greenwood, currently serving a 20-year sentence in a U.S. prison for his part in the fraud.
British businessmen Christopher Hamilton and Robert MacDonald are also implicated, facing accusations of laundering OneCoin proceeds. However, attempts to extradite them to the U.S. for trial have been unsuccessful.
Additionally, two Guernsey companies used by Ignatova to purchase high-value properties are included in the freeze. Promoters of OneCoin, including Kari Wahlroos, Muhammad Zafar, Moynul Islam, and Monirul Islam, are also subject to the order. Although they may have experienced losses following OneCoin’s collapse, they allegedly profited by recruiting new investors.
During the court proceedings, lawyers for the Islam brothers referenced Jennifer McAdam’s book “Devil’s Coin,” suggesting that their clients, too, were deceived, much like her. Monirul Islam’s barrister stated, “What the claimants must demonstrate is how they differ from the tens of thousands of other investors in OneCoin.”
