Onecoin Cryptoqueen Associates Appears in German Court – Bitcoin News
Three people are on trial in Germany for their role in one of the most notorious scams in the cryptocurrency world, Onecoin. The defendants have been accused of fraud and other crimes, alleging that they assisted Ponzi scheme mastermind “Crypto Queen” Ruja Ignatova.
Lawyer and couple face criminal charges in Germany over role in Onecoin scam
The husband and wife, as well as a lawyer from Munich, were among the first people in Europe to face criminal charges over their participation in the Onecoin cryptocurrency scam. On Tuesday, they appeared in court in Germany, Bloomberg reported.
The three are accused of money laundering, fraud, and banking crimes related to a multi-billion dollar fraud scheme. The pyramid was founded and managed by Luya Ignatova, a Bulgarian-born German known as the “Crypto Queen”.
Lawyers allegedly transferred €20 million ($19.7 million) to the Cayman Islands on behalf of Ignatova to purchase two London apartments for €75 million. The couple has been charged with processing her 320 million euro payments from her Onecoin customers within a year.
The German indictment points out that Pyramid defrauded people by falsely claiming that Onecoin was a cryptocurrency with a market-determined value. I was also told that I could mine at speed. In court, the prosecutor explained:
In reality, the ever-increasing value was fake and the mining process was just simulated by software.
Crypto Queen Ruja Still Missing, Wanted by Europe and the United States
Onecoin was founded in 2014 with offices in Sofia, the capital of Bulgaria. Cryptoqueen was last seen on his Ryanair flight to Athens on October 25, 2017.
Ignatova is currently wanted by Interpol, Europol, and the US Federal Bureau of Investigation (FBI) for embezzling at least $4 billion from Onecoin customers. In July, Greek media revealed that Greek police had acted on information that she had met with certain people earlier this year and had unsuccessfully tried to find and arrest her.
After Ignatova disappeared from the public eye in late 2017, she was succeeded by her brother Konstantin Ignatov, who was later arrested in Los Angeles in 2019. Konstantin pleaded guilty and sought witness protection.United States Ignatova has been charged with wire fraud, securities fraud and money laundering.
In August, news broke that Christopher Hamilton, a British citizen accused of money laundering and wire fraud in connection with the Onecoin scam, would be extradited to U.S. authorities after losing a bid to avoid extradition to the U.S. Announced.
At one point, Crypto Pyramid claimed to have more than 3 million members worldwide and generated €3.4 billion in revenue in less than two years as a multi-level marketing network from late 2014 to Q3 2016. I was.
Do you think more people will be prosecuted in connection with the Onecoin crypto pyramid scheme? Share your thoughts on the matter in the comments section below.
image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS, OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.
Onecoin Cryptoqueen Associates Appears in German Court – Bitcoin News
Source link Onecoin Cryptoqueen Associates Appears in German Court – Bitcoin News
