The brother of OneCoin’s lacking “CryptoQueen” has pleaded responsible to cash laundering and fraud prices, BBC reports.

Konstantin Ignatov admitted to his position within the multi-billion greenback OneCoin rip-off when he signed a plea deal on October 4. That doc has since been obtained by Inner City Press.

Ignatov is but to be sentenced, however now faces as much as 90 years in jail.

OneCoin’s alleged ringleader Dr. Ruja Ignatova is still on the run, whereas Ignatov is reportedly frightened that his current plea deal could “reveal actions of people” who would possibly use violence in opposition to him and his household.

As such, BBC studies that he is likely to be assigned a brand new id underneath the US’ witness safety program.

OneCoin rip-off may very well be even greater than BitConnect

Authorities say OneCoin operates as a basic pyramid scheme, constructed on a multi-level advertising community considerably akin to the notorious BitConnect fraud.

The agency dupes patrons into buying supposedly profitable funding packages made fully of a faux cryptocurrency, OneCoin.

In March, Laborious Fork reported that the US had laid charges in opposition to Ignatov, Ignatova, as nicely a 3rd confederate, US lawyer Mark Scott, who’s accused of laundering $400 million for the rip-off. He’s pleaded not responsible.

In line with Ignatov’s testimony featured in Scott’s ongoing trial, Ignatova says critics of OneCoin are “haters,” and that she frightened any individual was going to snitch on her to the FBI.

Ignatov reportedly claims to haven’t spoken to his sister since her disappearance, regardless of supposedly hiring a personal investigator to search out her. She’d beforehand instructed him that she’d acquired a “huge passport,” and requested aircraft tickets to Austria and Greece.

The agency that oversees OneCoin’s operation, which is headquartered in Bulgaria, nonetheless seems to be working, though its press division has not launched any data since June.

You may learn extra about its alleged inner-workings right here.

Revealed November 14, 2019 — 17:42 UTC



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