OneCoin, founded by Ruja Ignatova, which turned out to be a scam as many investors filed a lawsuit against the company in New York. In the latest update in the case, founder of OneCoin, Ruja Ignatova and six others remain unserved. Investors filed the lawsuit last year.Earlier in March US authorities arrested top leaders of the company on various charges.
The lawsuit filed claimed that the company was involved in a pyramid scheme and promised big returns with minimal risk, but the company aimed to dupe investors of billions of dollars. Plaintiffs have filed a document requesting an accounting of funds and assets raised by OneCoin from investors. Plaintiffs also seek compensation for the damages by selling off OneCoin assets.
Ruja Ignatova, Sebastian Greenwood, Irina Andreeva Dilinska, David Pike and Nicole J. Huesmann who were involved in the company remain unserved.
The lawsuit alleged that the Bulgaria-based OneCoin was involved in a neverending ICO of a cryptocurrency that never really existed. And it used the multi-level-marketing system to lure investors. Plaintiffs also claimed that the company was able to sustain their fraudulent schemes for years because Mark Scott laundered the criminal proceeds obtained from selling investment programs to the plaintiffs and the proposed class.
