OneCoin is a notorious scam scheme, operating under the Ponzi and pyramid pattern
It is promoted by the companies OneCoin Ltd (Dubai) and OneLife Network Ltd (Belize), both founded by Ruja Ignatova. U.S. prosecutors have accused the program of collecting ~ 4 billion dollars worldwide from victims.
Many countries around the world have warned of potential risks in models similar to OneCoin, advising the public to “be extremely vigilant” in decisions regarding it.
There are also many countries that have blacklisted OneCoin.
Ruja Ignatova, founder of Onecoin and was referred to as Cryptoqueen by the U.S. Court, has a long history of fraud. Many sources believe that Ignatova was involved in the BigCoin virtual currency scam, and Onecoin was inspired by BigCoin itself.
Ruja Ignatova mysteriously disappeared from around October 2017. Meanwhile, Konstantin Ignatov, one of the founders of OneCoin and the younger brother of Cryptoqueen, officially pleaded guilty to fraud with the FBI.
Former lawyer Mark Scott was arrested on money laundering and the trial was conducted in early November. As AZ Coin News reported, Scott was charged with money laundering when paid $ 50 million to help Ruja Ignatova, one of the founders of OneCoin, laundered $ 400 million and routed the money out of the United States while trying to conceal ownership. and the source of money.
Another money launderer for OneCoin was arrested
David R. Pike, another individual involved in the money laundering of former convicted lawyer Scott, was arrested by the US Government. He was arrested after lying to federal agencies about money laundering OneCoin.
Last December, David Pike attended a meeting with the FBI, IRS, and DOJ. During the meeting, Pike was questioned about the $ 400 million that Scott laundered money for OneCoin, through the private equity funds Pike helped manage.
When asked, Pike denied that there was no perception of funds attached to OneCoin and / or belonged to Ruja Ignatova.
However, DOJ insists this is a lie because “in fact, Pike was aware that the money belonged to Ruja Ignatova and it was taken from the multi-level marketing plan OneCoin”.
An FBI agent identified Pike as the COO of the infamous Fenero Foundation, a series of shell companies Mark Scott founded to launder money for OneCoin investors. And, Scott, who faces fifty years in prison for his role in OneCoin, is the CEO of the Fenero Foundation.
According to the FBI, on the day Scott was arrested (September 5, 2018), Pike confessed that he “knew the money transferred to the Fenero Fund belonged to Ruja Ignatova, the boss of the OneCoin scam”.
Pike further acknowledges that all money will be returned to Ignatova at some point. The email was collected as evidence supporting Pike to know the money he and Scott were laundering was tied to OneCoin and Ignatova.
Pike started working with Scott around March 2016, according to the evidence gathered by US authorities during the investigation. Pike’s money laundering efforts began with being appointed as the director of MSS International Consulting, a shell company that Scott founded for Ruja Ignatova.
Pike has not been named an accomplice in criminal cases. However, Pike was summoned, providing a significant number of hard-copy documents related to MSSI’s activities and the government continued to investigate Pike’s involvement with OneCoin’s criminal proceeding.
“Through MSSI BVI, Pike, the defendant, and Mark Scott have run a series of purposeful private equity funds, including Fenero Equity Investments LP, Fenero Equity Investments II, LP, Fenero Financial Swiss LP, and Fenero Equity Investments (Cayman) I, LP, (collectively, the Fenero Funds).
PIKE and Scott have set up bank accounts at banks in the Cayman Islands for each Fenero Fund”.
After Scott was arrested, Pike revealed in an interview that “he and Scott are responsible for managing about 450 million euros in the Fenero Fund. Ruja Ignatova is the final owner of the money transferred to the Fenero Fund”.
While Scott received $ 50 million to launder money for OneCoin, Pike was only paid $ 1.2 million. Pike was arrested on August 30 in Florida because lying to federal agents was a crime.
DOJ has twice requested to delay filing an indictment against Pike on the grounds that ongoing discussions are related to ‘charges that may be imposed in this case’. As a result, the second request (on November 13) of the DOJ was approved, the Pike indictment had a deadline of December 13.
Onecoin – The ‘Bitcoin killer’ – is now only ashes but fraudulent investigations continue around the globe. The reception of OneCoin is estimated at tens of thousands. Many victims of them have sued this Ponzi scheme after being cheated quite a lot of money. Ruja Ignatova faces up to 85 years in prison for fraud and money laundering while Konstantin Ignatov could face up to 90 years in prison.
Read more:
- OneCoin: Konstantin Ignatov Faces 90 Years In Prison
- Onecoin: Neil Bush, Son Of Former US President George H.W.Bush Was Paid $300,000 By “Cryptoqueen” Ruja Ignatova