OneCoin now seems to turn the sibling founders against each other that Konstantin Ignatov agreed to testify against his sister

It seems that Konstantin Ignatov – brother of the fleeing OneCoin founder – Ruja Ignatov – decided to partner with investors suing OneCoin. Specifically, Ignatov agreed to testify against his sister as part of a settlement that saw Ignatov dismissed from civil litigation targeting the scam.


Konstantin Ignatov, the brother of OneCoin’s fugitive founder Ruja Ignatova

Konstantin Ignatov agrees to testify against Ruja OneCoin

Based on numerous news reports, the terms of the deal show that Ignatov has agreed to partner with the OneCoin group of investors to bring the case to court and testify on their behalf against his sister if the case is successful go to trial.

Ignatov is also the defendant and witness cooperating in a parallel criminal case, with his testimony helping to secure the conviction of the attorney and accused of money laundering Mark Scott in November 2019.

Ignatov committed money laundering and conspired to commit electronic fraud in October and faces up to 90 years in prison in a criminal case. Ignatov is currently sentencing on November 11.

In November, Ignatov told New York prosecutors the following:

“Phoenix Thoroughbreds’ owner Amer Abdulaziz Salman was a key money-cleaner working under the guidance of Mark Scott’s co-conspirator and Ignatova’s former lover Gilbert Armena.”

Reports indicate that racing company Phoenix Thoroughbreds has been banned from French competitions for allegedly having ties to OneCoin last week, and the company also withdrew from British events. Abdulaziz and Phoenix Thoroughbreds have rejected the alleged association with the Ponzi scheme.

Last month, as AZCoin News reported, bodies of two former OneCoin promoters were found in Mexico. Specifically, Oscar Brito Ibarra and Ignacio Ibarra, two major OneCoin promoters, were kidnapped and killed in Mexico. The two men were promoting OneCoin as a payment method for a local car firm, the Latin American Automotive Marketing Company.

The terrifying news was first reported by major Latin American publication, La Tercera, on Saturday. The bodies of Brito and Ibarra were found stuffed into suitcases and dumped in a vacant lot. According to examinations, the two men were killed by suffocation.

OneCoin is known as a significant crypto exit scam alongside famous crypto scam BitConnect. The Bulgaria-based firm purportedly remains fully operational to date despite investigators’ allegations that it raised 4 billion euro ($4.4 billion) in a Ponzi scheme. Earlier in July, a Singaporean man was found guilty of operating OneCoin and was fined $72,000.

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