The UK High Court has taken decisive action in the ongoing crackdown on the $4 billion OneCoin fraud case. In a significant move, the court has issued a global freeze order on assets linked to key individuals involved in the scam. This includes OneCoin founder Ruja Ignatova, also known as the “CryptoQueen,” and co-founder Sebastian Greenwood, who is currently serving a 20-year prison sentence in the US.
Furthermore, assets belonging to four influencers who promoted the fraudulent scheme – Karri Wahlroos, Dr. Muhammed Zafar, Moynul Islam, and Monirul Islam – have been frozen. In addition, two British citizens, Christopher Hamilton and Robert MacDonald, who allegedly assisted in laundering funds from the scheme, have also been impacted by the freeze order. Assets of businesses owned by Ignatova have also been targeted in this action.
The lawyers representing the victims of the OneCoin scam believe that this freeze order is a crucial step towards delivering justice to those who have suffered losses as a result of the fraudulent scheme. Rhymal Persad, a partner at Mishcon de Reya, the law firm representing OneCoin investors, emphasized the impact of the scheme on individuals from various backgrounds, all of whom experienced significant financial losses.
The OneCoin fraud case dates back to 2014 when the scheme was launched, masquerading as a rival to Bitcoin. However, it was soon revealed to be a global MLM scheme with no real technological backing or intrinsic value. The disappearance of Ruja Ignatova in 2017 raised suspicions, and she was later added to the FBI’s Most Wanted list in 2022. There have been reports suggesting that she may have been killed by the Bulgarian mafia in 2018, but the FBI is offering a substantial reward for any information leading to her arrest.
This recent development in the UK High Court represents a significant milestone in the long-running saga of the OneCoin fraud case. The global freeze order on assets associated with key individuals involved in the scam underscores the commitment to holding those responsible for financial wrongdoing to account. As investigations continue and legal proceedings unfold, there is hope that justice will be served for the victims who fell prey to this elaborate and far-reaching fraudulent scheme.