Three people allegedly linked to the multibillion-dollar pyramid scheme OneCoin were brought before a German court this week to face fraud and money laundering charges.
The three are alleged to have laundered over $300 million for Ruja Ignatova, the ‘Cryptoqueen’ who is alleged to have defrauded over $4 billion from 3 million investors globally. Ruja has been on the run for the past five years as national and global law enforcement authorities pursue her.
One of the three facing trial in Germany is a Munich lawyer who is alleged to have worked for Ruja. He is accused of laundering $19.7 million for the fugitive to purchase two houses in London. Prosecutors are also going after a couple who allegedly laundered over $315 million for Ruja in a single year, most of it being customer deposits, Bloomberg reports.
OneCoin was one of the most popular digital asset projects pre-2017, with Ruja luring investors with her “we’re replacing Bitcoin” marketing rhetoric. However, it turned out she was running a Ponzi scheme in which late-stage investors’ funds were used to pay off the existing customers.
“In reality, the ever-growing value was a fake and the mining process was only simulated by the software,” the German prosecutors said in court.
Ruja has been on the run since 2017, last seen in Athens, Greece. Law enforcement authorities have been after her for five years now, with the FBI adding her to its top ten most wanted list four months ago. The bureau is…
