US Offers $5 Million Reward for Alleged 'Cryptoqueen'

Key Takeaways

Topic	Details
Reward Announcement	U.S. State Department offers $5 million for information leading to Ruja Ignatova's arrest or conviction.
Criminal Charges	Ignatova faces charges including wire fraud, money laundering, and securities fraud.
International Search	Ignatova disappeared in 2017 after traveling from Bulgaria to Greece.
FBI Involvement	Ignatova is on the FBI’s Ten Most Wanted Fugitives list; the FBI had earlier offered a reward of up to $250,000.
Impact of OneCoin Fraud	OneCoin scheme defrauded investors of over $4 billion globally.

The U.S. State Department has announced a reward of up to $5 million for information leading to the arrest or conviction of alleged cryptocurrency scammer, Ruja Ignatova. The 44-year-old is described as a chief participant in "one of the largest global fraud schemes in history."

The 'Cryptoqueen' on the Run

Known as the 'cryptoqueen', Ignatova finds herself on the FBI's Ten Most Wanted Fugitives list, charged with a global cryptocurrency fraud scheme. Operating from Bulgaria, Ignatova co-founded OneCoin Ltd in 2014. According to federal investigators, Ignatova and her team defrauded investors with exaggerated claims about OneCoin's value as a cryptocurrency, racking up a fraudulent income of $4 billion by 2017.

Charges and Escaping Arrest

Ignatova was charged in the U.S. District Court for the Southern District of New York on Oct. 12, 2017, and a federal arrest warrant was issued. On Oct. 25, 2017, she traveled from Sofia, Bulgaria, to Athens, Greece, and authorities believe she was evading arrest. She has been a fugitive ever since. A superseding indictment in February 2018 charged Ignatova with conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, and securities fraud.

International Legal Action

Beyond the American charges, German prosecutors have also accused Ignatova of criminal activities in relation to the alleged fraud scheme. The FBI, which placed her on its most wanted list in 2022, initially offered a $100,000 reward for information resulting in her arrest, later raised to $250,000.

Conclusion

The global search for alleged cryptocurrency fraudster Ruja Ignatova continues, with the US Government now offering a substantial reward for information that brings her to justice. The 'Cryptoqueen' faces serious charges in the US and abroad relating to one of history's most significant fraud schemes involving cryptocurrency.

This article is news, not financial advice.