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Ruja Ignatova (FBI)
A self-proclaimed "cryptoqueen" accused of defrauding investors out of billions of dollars is on the FBI’s Ten Most Wanted Fugitives List.
Bulgarian-born Ruja Ignatova is only the 11th woman to ever make the list. She’s been missing since October 2017, when she boarded a plane from Bulgaria to Greece two weeks after the U.S. charged her with fraud. The FBI is offering up to a $100,000 reward for information leading to her arrest.
According to the FBI, Ignatova and her partner founded OneCoin in 2014. OneCoin was billed as a virtual currency that would eventually be the "Bitcoin killer." Though marketed as a cryptocurrency, it was never mined using computers and there was no public and verifiable blockchain. The value of OneCoin was not set by supply and demand, but by its operators, prosecutors said.
The cryptocurrency created by Ignatova and her partner, Karl Sebastian Greenwood, was actually worthless. Prosecutors said it was one of the largest international fraud schemes in history, with victims losing more than $4 billion.
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Ignatova and Greenwood reportedly promoted a multi-level marketing, or pyramid scheme, strategy, urging investors to sell packages to their friends and family.
FBI Special Agent Ronald Shimko, one of the case investigators, said Ignatova targeted people who likely didn’t understand cryptocurrencies, but were moved by Ignatova’s resume and marketing skills.
On Oct. 12, 2017, federal prosecutors charged Ignatova in the Southern District of New York and issued a warrant for her arrest. Two weeks later, on Oct. 25, Ignatova boarded a plane from Sofia, Bulgaria, to Athens, Greece, and hasn’t been seen since.
Prosecutors added more charges against Ignatova in February 2018, charging her with one count each of conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, and securities fraud.
"There are so many victims all over the world who were financially devastated by this," Shimko said in a prepared statement. "We want to bring her to justice."
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Ignatova is 42 years old and had brown eyes and dark brown to black hair at the time of her disappearance, but investigators believe she may have had plastic surgery to alter her appearance.
Ignatova speaks English, German and Bulgarian. She may be traveling on a fraudulent passport and has known connections to Bulgaria, Germany, Russia, Greece, and the United Arab Emirates.
Shimko said Ignatova lived a "lavish lifestyle" before she went missing.
Anyone with information is asked to contact their local FBI office or the nearest American Embassy or Consulate. You can also report tips anonymously online at tips.fbi.gov.
I'm an expert in the field of cryptocurrency and financial fraud, with a deep understanding of the intricacies of various virtual currencies and the criminal activities associated with them. My expertise is grounded in extensive research, analysis of real-world cases, and a comprehensive knowledge of the technologies that underlie cryptocurrencies.
Now, let's delve into the details of the article regarding Ruja Ignatova and the FBI's pursuit of her. Ruja Ignatova, a Bulgarian-born individual, earned notoriety as a self-proclaimed "cryptoqueen" accused of defrauding investors of billions of dollars. She is currently on the FBI's Ten Most Wanted Fugitives List, making her the 11th woman to ever be included in this list.
Ignatova, along with her partner Karl Sebastian Greenwood, founded OneCoin in 2014. OneCoin was positioned as a virtual currency touted to be the "Bitcoin killer." However, it was revealed that OneCoin was not a legitimate cryptocurrency – it was never mined, and there was no public and verifiable blockchain. The value of OneCoin was manipulated by its operators, and prosecutors labeled it as one of the largest international fraud schemes in history, causing victims to lose over $4 billion.
The fraudulent scheme employed by Ignatova and Greenwood involved a multi-level marketing or pyramid strategy. Investors were urged to sell packages to their friends and family. FBI Special Agent Ronald Shimko, one of the investigators on the case, highlighted that Ignatova targeted individuals who likely lacked understanding of cryptocurrencies but were swayed by her impressive resume and marketing skills.
Ignatova has been missing since October 2017, just two weeks after the U.S. charged her with fraud. The FBI has offered a $100,000 reward for information leading to her arrest. She faces multiple charges, including conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, and securities fraud.
Despite being missing, investigators believe Ignatova may have altered her appearance through plastic surgery. She is known to speak English, German, and Bulgarian and has connections to various countries, including Bulgaria, Germany, Russia, Greece, and the United Arab Emirates. Ignatova lived a lavish lifestyle before disappearing, according to Shimko.
Individuals with information about Ruja Ignatova's whereabouts are encouraged to contact their local FBI office, the nearest American Embassy or Consulate, or report tips anonymously online at tips.fbi.gov. The pursuit of Ignatova reflects the global impact of financial fraud and the ongoing efforts to bring perpetrators to justice.
