Komal Joshi · Oct 21, 2020 . 6min read
FCA was forced to remove OneCoin warning, BBC podcast discusses
OneCoin,The Ponzi Scheme involving Ruja Ignatova was discussed in a BBC podcast. It is disclosed that the UK's FCA was forced to remove the warning against them
By Shilika · Aug 8, 2020 . 5min read
OneCoin was a Ponzi scheme based out of Bulgaria that started earlier in the decade. It is one of the biggest scams that has occurred, having stolen around $4 billion. A BBC sounds podcast starring Jamie Bartlett recently did an episode covering the details of the scheme.
The woman behind the whole thing was a Bulgarian woman by the name of Ruja Ignatova. Ignatova, or, ‘Cryptoqueen’, has been missing since 2017. Her brother, Konstantin, who has been working with US Law Enforcement, believes that his sister took off with the Russians.
Bartlett discusses the involvement of a London-based crisis management PR company known as Chelgate. A former employee from Chelgate, Simon Harris, and a lawyer, Gary Gilford, explained how Chelgate and a London law firm managed to get the UK’s Financial Conduct Authority (FCA) to remove a warning issued against OneCoin back in 2016. The FCA withdrawal of the warning was particularly pleasing for Ruja Ignatova and certain vital figures at OneCoin.
Sebastian Greenwood was one such key figure. He was a co-founder of OneCoin and recently had his pre-trial conference on Friday. Greenwood was shown his own emails by the prosecutors to make clear the fact that Greenwood was well aware of what he was doing right from the very beginning. He is due to appear in court again on the 5th of October. The pandemic is forcing court proceedings to take longer than usual.
The Chinese government claims to have recovered around $267.5 million and has charged 98 people involved in the scheme. OneCoin investors Donald Berdeaux and Christine Grablis have also managed to settle with Konstantin Ignatov.
Both siblings missing?
Konstantin’s whereabouts, however, seem to be a bit of a mystery. He served time in a US prison for a little while. A visit to the US Bureau of Prisons website indicates that Konstantin’s incarceration ended on the 13th of March 2020. At the same time, Ignatov’s lawyer filed for an extension in the case Grablis vs OneCoin Ltd. The reason for the extension is that his client is still incarcerated. Has Konstantin Ignatov disappeared like his sister?
Follow Cryptodose for daily updates