Assets of Fugitive Ruja Ignatova Frozen in Major Fraud Case
Recent reports from the UK indicate that the assets of Ruja Ignatova, wanted by both the FBI and Interpol and infamously known as the “Crypto Queen,” have been frozen. A court order issued by the High Court in London on Wednesday is part of a collective lawsuit initiated by over 400 investors in OneCoin.
Ruja Ignatova is being sought in connection with a massive cryptocurrency fraud scheme called OneCoin, which allegedly defrauded investors of approximately $4.5 billion. The freezing of her assets is a direct consequence of the actions taken by a group of investors from the project who are pursuing compensation for their losses. The most wanted woman in the world vanished shortly after disembarking from a Ryanair flight in Athens more than six years ago. Since then, her whereabouts have remained unknown, and no one has yet managed to claim the $5 million bounty offered by the U.S. for information leading to her capture.
Investors Seeking Justice
The group of investors from the UK is led by Jennifer McAdam, who claims that she and her friends lost over £200,000 in the OneCoin scheme. The Scottish national went to great lengths to convince them to invest in Ignatova’s project, only to later realize that they had fallen victim to a fraud. According to the BBC, investors in OneCoin within the UK alone have lost more than £100 million.
McAdam’s group is represented in court by the law firm Mishcon de Reya. The lawsuit is still open, allowing additional claimants to join. Only those investors who officially sign onto the lawsuit will be eligible to receive any compensation that may be awarded.
Wider Implications of the Court Order
The freezing order extends beyond the missing Crypto Queen herself. It also affects seven of her associates and four companies, all of which are alleged to have some connection to OneCoin. The assets of Sebastian Greenwood, Christopher Hamilton, Robert Macdonald, and organizers Kari Walros, Muhammed Zafer, Moinaul Islam, and Monirul Islam have been frozen as well.
Additionally, assets belonging to two companies based in Guernsey, which the BBC uncovered in 2021 as being used by Ignatova to purchase a £13.5 million penthouse and a £1.9 million apartment in the same building in Kensington, have also been frozen.
