The recent appointment of a new acting chief prosecutor in Bulgaria has brought attention to the ongoing investigation of the alleged $4 billion OneCoin scam, associated with Ruja Ignatova, known as the “CryptoQueen.”
Jonathan Levy, a lawyer based in the United States and London, is urging Bulgaria’s new chief prosecutor, Borislav Sarafov, to reopen the case against OneCoin, a fraudulent cryptocurrency scheme that was purportedly founded by Ignatova and members of Bulgarian organized crime groups in 2014.
Levy believes that a successful prosecution by Bulgarian authorities could potentially result in substantial financial restitution for the victims of the alleged crime. He claims to have spoken with a prominent individual involved in OneCoin who confirmed the existence of approximately $2 billion in funds.
However, in order to track down these assets, specific details such as wallet addresses and bank account numbers would be required.
OneCoin’s Ignatova disappeared seven years
This recent development occurs nearly seven years after Ignatova disappeared, leaving behind a trail of stolen funds scattered worldwide, including in banks, shell companies, and luxury properties in London.
According to authorities, allegations have been made that OneCoin engaged in fraudulent activities, resulting in an estimated $4 billion being obtained from investors through the promotion of their own cryptocurrency.
The scheme operated similarly to a pyramid scheme, enticing investors with educational courses on crypto trading and providing rewards for recruiting new participants.
In February of this year, a report from the Bureau for Investigative Reporting and Data (BIRD) suggested that Ignatova was killed in November 2018, allegedly on the orders of Bulgarian mafia member Christophoros Amanatidis. However, skepticism remains, with individuals like Levy questioning the veracity of Ignatova’s reported demise.