The UK High Court issued a global asset freeze on individuals involved in the $4 billion OneCoin fraud case.
This order targets the assets of key figures, including OneCoin founder Ruja Ignatova, infamously known as the CryptoQueen, and her co-founder, Sebastian Greenwood, who is currently serving a 20-year prison sentence in the United States.
Influencers, associates on the list
The freeze also affects the assets of four prominent influencers, Karri Wahlroos, Dr. Muhammed Zafar, Moynul Islam, and Monirul Islam, who played an important role in promoting the fraudulent scheme.
Next to them, there are two British nationals, Christopher Hamilton and Robert MacDonald, who are accused of aiding in the laundering of funds connected to the scam, have also had their assets frozen.
The court’s order further extends to businesses owned by Ignatova, ensuring that these entities cannot move or access funds.
According to Rhymal Persad, a partner at Mishcon de Reya, the law firm representing the fooled investors, the ruling is a big step toward justice for those who suffered financial losses due to the OneCoin scam. Persad told the scheme had a profound effect on many.
“The fraudulent OneCoin scheme deeply affected its victims, ranging from seasoned investors to everyday people, all of whom lost significant amounts in one of the largest frauds ever committed.”
One decade of deception
OneCoin was launched in late 2014, falsely presented itself as a worthy competitor to Bitcoin, luring investors into what was, in reality, a massive, textbook-example Ponzi-scheme, devoid of any legitimate technology or intristic value.
Ruja Ignatova, the scheme’s mastermind, mysteriously disappeared after flying to Athens in 2017 and has since been on the run. In 2022, she was added to the FBI’s 10 Most Wanted list.
The FBI suspects she may have undergone plastic surgery or otherwise altered her appearance to evade capture.
The truth might be buried
In a twist, there are reports suggesting that Ignatova was killed by the Bulgarian mafia in November 2018.
No official proof for this, so the FBI continues to offer a $5 million reward for information leading to her arrest, keeping the case very much alive.
This new court order represents a long awaited, major step in the ongoing efforts to bring justice to the victims of one of the most significant financial frauds in crypto history.
