FBI offers $100K for info on Crypto Queen’s whereabouts in fraud casE

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The Federal Bureau of Investigation (FBI) in the US has presented a reward of up to $100,000 for information and facts top to the arrest of ‘Crypto Queen’ Ruja Ignatova.

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The FBI, which included her to its ‘Ten Most Needed Fugitives’ listing, explained that Ignatova is staying sought for her alleged management of a enormous fraud scheme that impacted hundreds of thousands of buyers around the globe.&#13

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In 2014, Ignatova and her partner established OneCoin, a Bulgarian-centered firm that was promoted as a new digital currency that would be the “Bitcoin killer”.

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Ignatova allegedly manufactured bogus statements and representations about OneCoin to draw men and women to spend in OneCoin offers.

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In accordance to investigators, Ignatova and her companion also promoted OneCoin through a multi-level marketing method that urged OneCoin buyers to provide extra offers to mates and spouse and children, the FBI mentioned in a assertion.

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“OneCoin claimed to have a private blockchain. This is in contrast to other digital currencies, which have a decentralised and community blockchain. In this situation, buyers ended up just asked to trust OneCoin,” said Particular FBI Agent Ronald Shimko.

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Ignatova capitalised on the pleasure encompassing cryptocurrencies to draw in new investors.

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When the corporation is stated to have made use of a lot of of the phrases linked with digital currencies, investigators believe that that OneCoins were not mined in the way common to cryptocurrencies.

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In addition, the value of OneCoin was determined by the corporation alternatively than industry demand, explained the FBI.

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During the plan, OneCoin is thought to have defrauded victims all more than the world out of billions.

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Ignatova focused persons who may possibly not have thoroughly comprehended the ins and outs of cryptocurrencies but had been moved by her outstanding resume and the promoting approaches made use of by OneCoin.

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“There are so many victims all over the entire world who were economically devastated by this,” Shimko explained. “We want to bring her to justice.”

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Ignatova is only the 11th woman to have been picked to be on the FBI’s Ten Most Wished Fugitives listing in its 72-12 months record.

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“She is at present 42 a long time previous and has brown eyes and dim brown to black hair. Investigators, even so, imagine she could have altered her actual physical look,” mentioned the FBI.

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