Financial Crime World

Bulgaria Prepares Charges Against Elusive Crypto Fraudster Ruja Ignatova, Offers $5 Million Reward for Her Capture

A Major Crackdown on One of the Largest Crypto Frauds in History

Sofia, Bulgaria - Bulgarian authorities have announced that they will file charges in absentia against notorious fraudster Ruja Ignatova and take steps to seize her allegedly illegally acquired assets. The announcement was made at a press conference by Chief Prosecutor [Last Name], where U.S. Ambassador to Bulgaria Kenneth Merten also revealed a new reward of up to $5 million for information leading to Ignatova’s arrest and supporting Bulgarian authorities in apprehending her.

Who is Ruja Ignatova?

Ruja Ignatova has been on the run since October 2017, when she fled Sofia after being charged in a New York court and a federal warrant issued for her arrest. She was subsequently added to the FBI’s most wanted list in June 2022. As the mastermind behind OneCoin, a cryptocurrency trading company that turned out to be a massive scam, Ignatova convinced millions of people to invest in her scheme between 2014 and 2016.

The Ponzi Scheme

According to authorities, the Ponzi scheme pulled in over $4 billion from at least 3.5 million victims during its first two years. Last September, Karl Sebastian Greenwood, a Swedish-UK national who co-founded OneCoin with Ignatova, was sentenced to 20 years in U.S. prison for his role in the fraud.

Bulgarian Authorities’ Next Steps

Bulgarian authorities are now seeking to bring Ignatova to justice and recover her allegedly ill-gotten gains. The case is seen as a major test of the country’s ability to combat financial crimes and protect its citizens from fraudulent schemes.

  • The Bulgarian authorities will file charges in absentia against Ruja Ignatova.
  • Steps will be taken to seize her allegedly illegally acquired assets.
  • A reward of up to $5 million is being offered for information leading to Ignatova’s arrest and supporting Bulgarian authorities in apprehending her.
  • The case highlights the need for effective measures to combat financial crimes and protect citizens from fraudulent schemes.