Three people associated with notorious OneCoin founder Ruja Ignatova have appeared in a German court facing charges over their alleged roles in a multibillion-dollar fraud operation. The associates of the famous “Cryptoqueen” fugitive businesswoman are accused of money laundering, fraud, and banking crimes, Bloomberg reported. One man, a Munich lawyer who worked for Ignatova, is alleged to have transferred €20 million ($19.7 million) via the Cayman Islands on her behalf to buy two apartments in London. The other two defendants are a husband and wife, who are accused of handling €320 million ($314.72 million) worth of OneCoin customers’ money. Prosecutors said that the now-infamous OneCoin was a scam designed to make customers believe they were investing in a cryptocurrency whose value was determined by market mechanisms. In reality, they told the court, the coin’s value was fake and the mining process was simulated by software. The proceedings in Germany represent some of the first actions taken in Europe against people alleged to have been involved in the ruse.
About OODA Analyst
OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.