Thursday, October 29, 2020

Embattled CEO of $3.8B Crypto Ponzi Scheme OneCoin Pleads Not Guilty

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Konstantin Ignatov, the CEO of the multi-billion-dollar “crypto” Ponzi scheme OneCoin, has pleaded not guilty to wire fraud. According to court documents, Ignatov entered the plea during a May 28 preliminary hearing via conference call.

As CCN reported, Ignatov — a Bulgarian national — and his sister Ruja Ignatova was charged with wire fraud, securities fraud, and money laundering related to the sham cryptocurrency, OneCoin.

The U.S. Department of Justice indicted Ignatov for scamming investors through a multi-national Ponzi scheme that made false promises of “guaranteed” profits.

Grifting Brother-Sister Con Artists

Shockingly, OneCoin Ltd. never launched an actual cryptocurrency. Instead, it used a proprietary SQL database to log transactions within the “OneCoin network.”

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The FBI arrested Konstantin Ignatov on March 6 at the Los Angeles International Airport as he was attempting to flee to his native Bulgaria. That same day, Konstantin posted a smug Facebook photo from the Hollywood Hills. It’s unclear if the selfie was posted before or after his arrest.

Ironically, the con artist who stole billions of dollars from unwitting investors had the audacity to whine that someone had stolen his phone and suitcase.

Konstantin Ignatov, the CEO of the crypto Ponzi scheme OneCoin, is accused of securities fraud, wire fraud, and money laundering.

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