According to the BBC report, Konstantin Ignatov, the brother of on the run “crypto queen,” admitted his role in the OneCoin cryptocurrency fraud. He pleaded guilty to various charges, including money laundering and fraud. After reaching a plea deal, he has been sentenced up to 90 years of prison time.
OneCoin: A $4 billion Ponzi scheme
Governments all over the world have declared OneCoin as a Ponzi scheme. The company co-founded by Dr. Ruja Ignatov, who is on the run, raised over $4 billion in its ICO. However, the company has denied all allegations and is still operating. Under the plea deal, Ignatov will not face further charges as they emerge against OneCoin and its constituents.
Where is Dr. Ruja Ignatov?
During the trial, Ignavot revealed more details about her sister and where she is. According to his testimony, the “cryptoqueen” was living in Sofia, Bulgaria, before she disappeared. He also said that her sister was worried that someone close to her would give her up to the FBI, and she told him that critics of OneCoin were haters, and she was “very tired.”
He further revealed that her sister got hold of a “big passport” and asked him to get plane tickets to Austria and Greece.