Bulgaria Sets Sights on Crypto Fraudster Ruja Ignatova

The Bulgarian authorities are taking steps to file charges against notorious crypto fraudster Ruja Ignatova in absentia and seize her allegedly illegally acquired assets. This announcement was made by the Chief Prosecutor at a press conference yesterday.

$5 Million Reward for Information Leading to Her Arrest

The United States Ambassador to Bulgaria, Kenneth Merten, also spoke at the event, unveiling a new reward of up to $5 million for any information that leads to Ignatova’s arrest and supports Bulgarian authorities in apprehending her. The whereabouts of Ignatova have been unknown since October 2017, when she fled Sofia for Athens after being charged in a New York court and a federal warrant was issued for her arrest.

Background on the Case

Ignatova is believed to be hiding abroad, having evaded capture despite being added to the FBI’s most wanted list last June. Her criminal enterprise, OneCoin, which she founded in 2014, tricked millions of people into investing in cryptocurrency trading packages that turned out to be a scam.

The Scheme

The scheme, dubbed one of the largest crypto fraud schemes in history, is estimated to have raked in over $4 billion from at least 3.5 million victims within its first two years. Last September, Karl Sebastian Greenwood, Ignatova’s co-founder and a citizen of Sweden and the United Kingdom, was sentenced to 20 years in US prison for his role in the scheme.

Key Facts

• OneCoin was founded by Ruja Ignatova in 2014
• The scheme is estimated to have raked in over $4 billion from at least 3.5 million victims within its first two years
• Karl Sebastian Greenwood, co-founder of OneCoin, was sentenced to 20 years in US prison for his role in the scheme
• Ruja Ignatova has been on the FBI’s most wanted list since June 2022
• A $5 million reward is being offered for information leading to her arrest and supporting Bulgarian authorities in apprehending her