Analyst Foresees 1,500% Price Increase US Ambassador Kenneth Merten underscored the gravity of the charges against Ignatova, labeling the OneCoin scheme as one of the largest frauds in history. Victims of this scheme have allegedly been defrauded of over $4 billion. Plamen Tonchev, the head of Bulgaria’s State Agency “National Security” (SANS), shed light on Ignatova’s role in the OneCoin scheme, describing it as a "fraudulent financial operation” closely resembling a pyramid scheme. The Rise And Fall Of OneCoin The story of OneCoin dates back to 2014, when Ruja Ignatova founded the company, claiming that it functioned just like any other cryptocurrency.
The United States government has recently announced a substantial reward of up to $5 million for any information leading to the arrest of Ruja Ignatova, the founder of OneCoin. This development comes as part of a joint investigation conducted by Bulgarian and American authorities into a large-scale financial fraud and money laundering scheme. One Of The FBI’s Most Wanted Bulgaria’s temporary chief prosecutor, Borislav Sarafov, highlighted the collaborative efforts between Bulgarian and US law enforcement agencies in tackling the case.
Sarafov emphasized the ongoing investigations in both countries against Ignatova, who is facing charges related to the notorious OneCoin financial pyramid scheme. Furthermore, Sarafov revealed plans to initiate legal proceedings in Bulgaria, aiming to charge Ignatova in absentia and facilitate the seizure of assets acquired through illicit means.
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