Wednesday, January 20, 2021

BBC investigates on the run “crypto queen” Ruja Ignatova in a podcast series

The Takeaway:

BBC recently aired an investigating podcast series exploring the whereabouts of notorious crypto queen Ruja Ignatova. She scammed investors of $4 billion in 2017 by selling a non-existent cryptocurrency. She has been charged with absentia and money laundering charges by the US Department of Justice.

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Recently BBC aired an investigating documentary about the women behind OneCoin scam. Dr. Ruja Ignatova in 2017 held a series of interviews selling her vision of a cryptocurrency superior to bitcoin. Ignatova scammed investors of $4 billion before disappearing. 

During the investigation, it was found that people from 175 countries had invested in the scam ICO. In 2016 Ignatova did a world tour to promote the ICO of her fake cryptocurrency. Most of the investments cam from countries like China, Korea, Germany, and Hong Kong. Documents show that $466 million came from China in 2016.

Earlier, United States Department of Justice charged Ignatova of absentia and money laundering calling OneCoin an old-fashioned pyramid scheme scam. The scam took place before the surge in altcoins in late 201. 

According to a Metro report, One UK investor, Glaswegian Jen McAdam, who lost $10,500 in the OneCoin scam has been receiving rape and death threats since she appeared on the BBC podcast series. The “crypto queen” is still on the run. According to the documentary, OneCoin has rejected all the allegations. The company still has offices in Sofia, Bulgaria, and still allegedly sells investments into the non-existent cryptocurrency. 

Let us know in comments your views about the BBC podcast series and on the run crypto queen.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Dorsey Gray
Dorsey Gray
Dorsey works in the oil and energy industry since he graduated as a mechanical engineer from Bagdad Senior High School. However, he loves to explore and write about the financial world while he sits in the balcony of his beachside room. Dorsey also loves to cook, but just for himself.

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