And literally my legs just went, and I fell on the floor,'" she says. So she decided to invest her savings and the money from her inheritance from her father into OneCoin. Before long, she had invested 10,000 of her own money - and persuaded friends and family to invest 250,000 of theirs. The US lawyer prosecuting Ignatova, Damian Williams, released a damning statement last month where he said her crypto tokens were useless. When I ask him who might be behind the threats, he won't elaborate. "I'm somehow hiding myself. The US Department of Prosecutions has charged Ignatova with conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud and securities fraud. [26], According to a report published by Bulgarian investigative reporting site Bird, Ignatova was murdered in November 2018 on the orders of a Bulgarian drug lord, Hristoforos Amanatidis, also known as "Taki". This is clearly a question for a professional, which is why Georgia and I went to see private investigator Alan McLean. At the gated entrance to their mansion is a 10ft-high wrought iron gate with their names and the slogan "What dreams may come". In 2016 it was here that 22-year-old Daniel Lienhardt came as he was scraping together the 700,000 Ugandan shillings ($250) he needed to buy a OneCoin starter package. Money can buy a lot of friends, and I would imagine shes taking advantage of that.. On the same day he was arrested, the FBI declared OneCoin a fraudulent currency. Ruja Ignatova was born in Sofia but moved to Germany when she was 8 years old. Between August 2014 and March 2017 more than 4bn was invested in dozens of countries. 2023 The Arena Media Brands, LLC and respective content providers on this website. The nature of MLM networks - where people often recruit others who are close to them - creates a blurred sense of responsibility. There are videos of the minister, known as Bishop Fred, leading the congregation in call and response. The opening of a long-promised exchange that would allow OneCoin to be turned into cash kept being delayed - and investors were growing more and more concerned. He is now facing extradition to the US for his alleged role in the OneCoin fraud. They are now in what's called my downline. "If I knew what I would have to go through, I would have never blown the whistle. [21][22] An Interpol Red Notice followed. Why did the FCA drop its Cryptoqueen scam warning? She was dressed, as usual, in an expensive. Do you know what agencies go after them? Realizing that an arrest warrant was imminent and fearing that she could spend the rest of her life behind bars, Ruja decided to flee. That I don't know what they're thinking. Now a hit podcast is stepping up the search for the international scam artist, writes Tanya Sweeney VideoRecord numbers of guide dog volunteers after BBC story. What's he waiting for? 5 Nr. The key point is that these special blockchain databases are what make cryptocurrencies like Bitcoin work. Any criticism or awkward questions were actively discouraged. The Onecoin Ponzi was a multi-level-marketing (MLM) venture that featured packages that were ostensibly tethered to a blockchain network. Taking seriously Alan McLean's advice about studying Dr Ruja's life before OneCoin, Georgia and I turn to the internet, which fortunately never forgets anything. Aliases: Dr. Ruja Ignatova, Ruja Plamenova Ignatova, Ruja P. Ignatova, "CryptoQueen" Date(s) . Alberts was brought up in a poor neighbourhood. Around the same time, the US authorities charged Dr Ruja in absentia for wire fraud, security fraud and money laundering. US authorities have warned that Ruja Ignatova may have changed her appearance since going missing in 2017, FBI agents believe Ms Ignatova travels with armed guards or associates, Mr Schneider was interviewed by the BBC's Jamie Bartlett, At the crash site of 'no hope' - BBC reporter in Greece. "I've been telling her it's changing. Daniel took me and Georgia to meet Prudence, who first introduced him to OneCoin. She told the cheering crowd that OneCoin was on course to become the world's biggest cryptocurrency "for everyone to make payments everywhere". There, she recruited members to promote OneCoin and sell to their friends and relatives. If nothing else it should make it easier for the authorities to freeze that asset and maybe even start getting money back to victims.. Facebook Previously, the property belonged to a company called Abbots House Penthouse Limited,. We soak up the atmosphere, cheer the British contestant, and then leave. In November 2019, a jury in Manhattan found Mark Scott, a lawyer for OneCoin, guilty of conspiracy to commit money laundering and fraud of $400 million by concealing the ownership and source of the funds. Jen McAdam on the BBC's Victoria Derbyshire programme, The video of Dr Ruja at the Economist conference was what clinched it for Jen McAdam, Igor Alberts and Andreea Cimbala outside their house, Daniel, Prudence and Jamie with children in the poor area of Kampala where Prudence works as a nurse, Dr Ruja was renowned for expensive dresses and red lipstick, Dr Ruja posted a video of herself with her baby on social media, Dr Ruja comes on stage at Wembley to the song This Girl Is On Fire. She is big on the fairytale and cinderella stuff so castles. When you're dealing with a scam worth billions of euros, it's not unusual for shadowy groups to get involved. "The companies and individuals behind OneCoin are based outside UK jurisdiction," it said. In November 2021, her stake would have peaked at nearly $15 billion, but it has now dropped, still more than enough to help her stay hidden.". [11][failed verification] In 2005, she earned a PhD in private international law from the University of Constance in Germany with the dissertation Art. Read about our approach to external linking. Nobody knew why she wasn't there," recalls one delegate. After Jen McAdam invested into OneCoin she was constantly told she was part of the OneCoin "family". Human error to blame for train crash - Greek PM, At the crash site of 'no hope' - BBC reporter in Greece. Oliver describes this kind of dizzying arrangement as "improbably standard". Video, Record numbers of guide dog volunteers after BBC story, Listen to The Missing Cryptoqueen podcast on BBC Sounds, Harry and Meghan told to 'vacate' Frogmore Cottage, Rare Jurassic-era bug found at Arkansas Walmart, Dozens of girls treated after new Iran poisonings, Prince Andrew offered Frogmore Cottage - reports, Havana Syndrome unlikely to have hostile cause - US, China and Belarus call for peace in Ukraine, Beer and wine sales in Canada fall to all-time low, Man survives 31 days in jungle by eating worms. She had no computer or smartphone, to do her own research. But earlier this month, Ignatova reportedly came out of the woodwork to claim one of her properties. 1 EuGVO Chancen und Perspektiven der Reform des Gerichtsstands am Erfllungsort, which discusses lex causae in conflict of laws. Dubai in the United Arab Emirates is one of five financial routes Ignatova has known connections to. Although Jen McAdam had now seen the light, few other OneCoin investors had. I would have just turned my back and walked away," he says. Bjorn received 7.69 million euros which were transferred from Hong Kong. The documents show attendees from Bulgaria's Interior Ministry at the March 2017 Europol meeting. But when it comes to someone trying to find them - whether that's a journalist or a police officer - they are invisible.". When there is nothing of value to sell, though, and all the money is made by recruiting other people, it is illegal and goes by another name: a pyramid scheme. Until this week, however, the OneCoin head office remained open for business - and people were continuing to promote the currency. '", Money might push people to invest in the first place, but the sense of belonging, of doing something, of achieving something, is why they stay, Barker says. The FBI added Dr. Ruja Ignatova, the so-called 'Cryptoqueen,' to its list of Ten Most Wanted fugitives. She was dressed, as usual, in an expensive. By contrast, Jen McAdam says she bears a heavy burden of guilt. On this Wikipedia the language links are at the top of the page across from the article title. She is now on the FBIs list of the 10 most-wanted fugitives and is the only woman currently on the hit list. That was the last time anyone saw or heard from Dr Ruja. Dr Ruja had vanished. In the FBI's' 72-year history, Ruja is only the 11th woman to appear on this list. Igor returned with a new mission - and gave new instructions to all the salespeople in his downline: stop whatever you're doing, and start selling OneCoin. In June 2022, she was added to the FBI's 10 most wanted list. Igor Alberts, the MLM kingpin, said he'd heard she has Russian and Ukrainian passports and travels back and forth between Russia and Dubai. Didn't seem to be the contents of the famous 3rd floor cash room :) Looked as if the company is moving out, but who knows pic.twitter.com/vH0XzMFef0. Some feared she'd been killed or kidnapped by the banks, who - they'd been told - had most to fear from the cryptocurrency revolution. I show his results to Bullough, who immediately notices how many British companies there are. Black-and-gold shoes, black-and-gold pleated suit, black-and-gold shirt, black-and-gold sunglasses, and he has a thick black-and-gold ring on. Ms Ignatova disappeared on 25 October 2017 after being tipped off about intensifying police investigations into her OneCoin cryptocurrency. Ruja Ignatova, also known as the "missing Cryptoqueen", received police information about investigations into her $4bn (3.5bn) cryptocurrency fraud before she disappeared, it is claimed. Video, Record numbers of guide dog volunteers after BBC story, Harry and Meghan told to 'vacate' Frogmore Cottage, Dozens of girls treated after new Iran poisonings, Rare Jurassic-era bug found at Arkansas Walmart, Ed Sheeran says wife developed tumour in pregnancy, China and Belarus call for peace in Ukraine, Covid origin likely China lab incident - FBI chief, Man survives 31 days in jungle by eating worms, Havana Syndrome unlikely to have hostile cause - US. He introduced her to Bjorn Bjercke, the blockchain developer who said there was no blockchain. Frankfurt probably isn't the only place she goes - it might be one of several places, including perhaps Dubai and Russia. July 1, 2022 By Jamie Barlett. But they used some of this cash to buy more OneCoin. Officers from the UK, Germany, the Netherlands, Dubai and Bulgaria were also present. She knew there would be enough people either desperate enough, or greedy enough, or confused enough to take a bet on OneCoin. A reward of $100,000 is offered by the FBI for information leading to her arrest. It's a green light for the OneCoin scammers to continue and extort more money from innocent people in the UK and nothing has been done about it. Bulgarian-born German citizen Ruja Ignatova, FBIs list of the 10 most-wanted fugitives. The company went bankrupt shortly after its acquisition. But this is the first principle to grasp: money is only valuable because other people think it's valuable. Dr Ruja's genius was to take all of this and sell the idea to the masses. The BBC is not responsible for the content of external sites. 2023 BBC. Blame is not easy to apportion. The daughter, we were informed, might be in Frankfurt. She had got hold of a "big passport", he said, and asked him to get her plane tickets to Vienna, then Athens. Ms Ignatova, a 42-year-old Bulgaria-born German national, disappeared on 25 October 2017 after being tipped-off about intensifying police investigations into her Sofia-based scam. Whether it's Bank of England notes and coins, shells, precious stones or matchsticks - all of which have historically been used as money - it only works when everyone trusts it. It's not clear who Bjorn and Igor are talking about, or whether they are even talking about the same people, but the US Department of Justice claims to have evidence of a link between Dr Ruja's brother, Konstantin Ignatov - who took over the running of OneCoin when Ruja disappeared - and "significant players in Eastern European organised crime". They have filed no financial information at all." ", I ask him why not. But the motive of other people was simply being able to acquire a better life; people who worked long hours, people who did difficult physical labor, old people. She would have known that we were looking for her, he added, and she would have laughed at us. "So we need you to build a blockchain," he went on. It seemed like easy money. "We've been unable to identify UK-based assets, which could be used to compensate UK investors. "British companies are the companies of choice," he comments. Dr. Ruja Ignatova is the only scammer who is on both the FBI and Interpol's 2022 Ten Most Wanted Lists. They'd read, with envy, the stories of people striking gold with Bitcoin and thought OneCoin was a second chance. It suggests she is still alive, and there are documents out there somewhere which contain vital clues as to her recent whereabouts. "I'm devastated for all the UK victims," Jen McAdam told me, when she heard the news. Ignatova was a convincing speaker. Ruja Ignatova, the self-described "Cryptoqueen.". Where's the help? "When you look at my clothes, they are disciplined," he says. HubPages is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. ", The City of London Police told the BBC: "There was insufficient evidence to support criminal proceedings against individuals based in the UK, though the force has never specified that there had been no concerns surrounding OneCoin. "We gathered the teams together and we started to work like crazy," he says. She could hear the whoops and cheers of thousands of adoring fans in the background. A small beaten down van parked in front and was filled with various office equipment and supplies. "If you have your money and it's taken away from you, life becomes stressful," she says. According to the BBC in an article dated July 2, 2022, Ignatova stashed millions of dollars in the rival Bitcoin before disappearing in 2017. In August this year, the City of London police ended a two-year investigation into OneCoin. ", The webinar hosts talked about Dr Ruja's glittering background: Oxford University, a PhD from Konstanz, a stint with the respected management consultancy, McKinsey and Company A speech Dr Ruja had given at a conference hosted by The Economist magazine was shown - and that's what clinched it for McAdam. They don't have a blockchain today. Details first surfaced in 2021 in leaked documents from Dubai's courts, posted online by Dr. Jonathan Levy, a UK-based lawyer, who described her as "the most successful criminal in history.". [2][7], Born in Ruse, Bulgaria, in 1980,[8] to a Romani family. "When you talk about the amount of money that's been put into OneCoin of course there's people out there who are pissed off and would do anything to shut anyone like me up," says Bjorn Bjercke, the blockchain expert who discovered there was no blockchain, and started talking about it publicly. So don't worry too much if you don't follow it either.) Phil and Georgia both recruit two people, and then all four of them recruit two more, and so on. She was dressed, as usual, in an expensive ballgown, wearing long diamond earrings and bright red lipstick. I will double your coins, I will double your coins. Founded and led by Dr Ruja Ignatova, a Bulgarian law PHD graduate and businesswoman, it grew quickly, often driven by hyperbolic public events. The 42-year-old Bulgarian-born woman is wanted for her alleged role in running a cryptocurrency scam known as OneCoin. "You will find her," he said. But the authorities all over the world have been slow to react, partly because the whole area of cryptocurrencies is relatively new. The reason so many people are excited by Bitcoin is that it solves that problem. We will be there for a week and wanted to take various day trips as well as tour the actual city. His mother had doubts, but he persuaded her to put the money into OneCoin instead. "We are concerned about the potential risk this poses to UK consumers.". It was launched by two offshore companies: OneCoin Ltd. (based in Bulgaria and registered in Dubai) and OneLife Network Ltd. (registered in Belize). James Richard Shinn was a book lover. Investors often told us that what drew them in initially was the fear that they would miss out on the next big thing. Beginning in . From the very beginning, she was a gifted child and always at the top of her class. Up to 90 years for the Ponzi scheme. Do you know how they do so? They didn't feel they were taking a risk, because they trusted Ruja and her education and work experience. Igor Alberts, the MLM seller, also talks about the involvement of "very influential people". The US Department of Justice, New York County District Attorney's Office, and Dubai Police did not comment. Igor Alberts is wearing black-and-gold everything. More folk are going to promote this. They were simply recording their transactions internally. Today doors are locked. We also learned that Dr Ruja had a daughter in late 2016, and that she remained very close to her. "I said to Andreea, 'We need to build it up to 100 million coins, because when this coin goes to 100 and we have 100 million, we are richer than Bill Gates.' Bjorn Bjercke is a blockchain expert and he was the first person who started speaking publicly against OneCoin. From either Greece or Romania Dr Ruja could be extradited to the US. "You're in at such an early stage and it's just going to go like Bitcoin. In early October 2016 - four months after Dr Ruja's London appearance - a blockchain expert called Bjorn Bjercke was called by a recruitment agent, with a curious job offer. They, like almost everyone else involved, were convinced they were earning a fortune. Then he got into network marketing, or multi-level marketing (MLM) as it is often known, and started making money. There are also investors who feel guilty. This is a pyramid scheme, and it's very illegal. The smallest package cost 140, but they went all the way up to 118,000. They don't care! For its fans this is a revolutionary new form of currency, with the potential to sideline the banks and national currencies, and provide banking for anyone with a mobile phone. She exploited the Cryptocurrency boom for a fortune and then disappeared without a trace . On October 25, two weeks after the Lisbon event, she boarded a Ryanair flight from Sofia to Athens, Greece. He thought OneCoin would give cryptocurrencies a bad name, and he told McAdam bluntly that it was a scam - "the biggest scam in the [expletive] world". Another tip he gives us is to find out where she has been on her yacht. "What was her lifestyle? In 2012, she was convicted of fraud in Germany in connection with the acquisition of a steel company obtained by Ruja and her father. I sell a box to my friends, Georgia and Phil, and make a small cut. "Go back to her life before OneCoin. They are desperate to get their hands on the conwoman, offering a $100,000 reward for intel that ultimately leads to her arrest. [17], On 25 October 2017 Ignatova disappeared after being tipped off about increasing police investigations about OneCoin. Many were struck by the personality and persuasiveness of the "visionary" Dr Ruja. A court reporter was there to hear his testimony, and according to his account of the proceedings Ignatov appears to have implied that his sister had duped him with the same line the organisation put out to its investors - that OneCoin critics were "haters" who could not be believed. Greatly feared for his use of violence, Silas Jayne operated in the very dark underworld of the champion horse business. Read about our approach to external linking. 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