A couple of days ago, a Bulgarian citizen Konstantin Ignatov was arrested at the airport in Los Angeles. He was accused of financial fraud and money laundering with the help of the OneCoin financial pyramid.
According to prosecutors, Konstantin Ignatov arrived in the United States on matters related to cryptocurrency, and stayed in Las Vegas. Konstantin Ignatov, together with his sister Ruja Ignatova, is the head and founder of OneCoin Ltd. Ruzha Ignatov is also accused of fraud using means of communication, securities fraud and money laundering. At the moment she is still at large. Recall, in September last year, another project leader Mark Scott was arrested.
According to the prosecutor’s office, about 3 million people around the world suffered because of the Ignatov scheme, but the exact amount of losses cannot be calculated.
According to reports received during the investigation, the company’s total revenue in 2014–2016 was 3,353 billion euros, of which net profit amounted to 2,23 billion euros. The main business model of OneCoin is selling educational cryptocurrency trading packages. Project participants receive referral commissions for attracting new individuals and selling packages.