The self-proclaimed ‘CryptoQueen’ aka Ruja Ignatova who has been on the run since 2017, is currently on the FBI’s list of the “top 10 most wanted”. The Bulgarian woman, believed to be in her 40s, is wanted for executing a cryptocurrency scam known as OneCoin.
As per reports, Federal investigators have alleged that the fugitive used the plan to dupe victims out of more than $4bn (£3.2bn). Ruja has been missing after US officials issued an arrest warrant and investigators began approaching her.
In early May, Ruja was listed as one of the most wanted criminals in Europe too. In 2014, OneCoin, the so-called cryptocurrency, started providing buyers with commissions when they sold the currency to more people.
Nevertheless, FBI agents say OneCoin held no value and was never protected by the blockchain technology used by other cryptocurrencies.
Allegations suggest that it was essentially a Ponzi scheme disguising itself as a cryptocurrency.
Damian Williams, the Federal prosecutor, explained that she timed her scheme perfectly, and monetized on the crazy speculation of the initial days of cryptocurrency. The FBI adds fugitives to the wanted list when it thinks the general public can too participate in tracking them down.
A bureau notice said it would be awarding $100,000 for any information helping the arrest of Ms Ignatova, who was accused in 2019 with eight charges including wire fraud and securities fraud.
Interestingly, she is the only woman on the FBI’s ‘10 most wanted list’.
Jamie Bartlett brought Ms. Ignatova’s tale to light and discussed the monetary damages suffered by the victims as a result of OneCoin. This made it more likely that she would be caught.
“This is probably the biggest development in the case since Dr Ruja disappeared in October 2017,” he said.
Mr Bartlett, who is the investigator of this case, informed that Ruja Ignatova disappearing with at least $500m (£411m), has made it difficult for others to trace her. This has further been instrumental in helping her to hide from the law.
The officials also think that Ruja has quality fake documents and has changed her appearance. This has further raised the chances that she may not even be alive.
It has been discovered that Ruja was last seen boarding a plane from Bulgaria to Greece in 2017 and has never been seen ever since.
OneCoin victim Jen McAdam claimed that back in 2019, she along with her friends and family had invested a quarter of a million euros.
Recalling the incident, Ms McAdam said that it all began from a friend’s message informing them about an unmissable investment opportunity. They later joined a OneCoin webinar.
The webinar addressed many a few things about this exciting new cryptocurrency and how it would fetch fortunes for investors.
All of them were ‘very up-tempo, full of beans, full of passion’, Ms McAdam said.
“You are so lucky that you’re seeing this webinar right now. You’re in at such an early stage and it’s just going to go like Bitcoin. It’s going to go bigger.”
Ms McAdam said it took her months to realise it was all a scam.
Also read: The FBI Issues Warning to LinkedIn Users About Crypto Scams
