‘Cryptoqueen’ Brother Could Face up to 90 Years in Prison

November 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The brother of the founder (Dr Ruja Ignatova) of the Bulgarian crypto company OneCoin Ltd. Konstantin Ignatov pleaded guilty to several charges, including participation in money laundering and fraud, writes the BBC.

Ignatov made a deal with the investigators on October 4, but it became known this week. Under the terms of the agreement, Ignatov will not be charged with new charges that continue to arise during the investigation of OneCoin, with the exception of possible violations of tax laws. The accusations already available, however, may be enough for him to go to prison for 90 years, the BBC claims.

OneCoin raised about $4 billion in investments and has been recognized as a pyramid scheme in several jurisdictions. The service itself denies all charges and continues to function.

Ignatov may be included in the witness protection program and receive documents in a new name. According to court documents, the fact of his cooperation with the authorities could pose a threat to himself or his family.

During the trial, Ignatov named additional circumstances of the disappearance of his sister Ruja. According to him, until the moment she vanished, she lived in Sofia but was afraid that someone from her circle would hand her over to the FBI. Ruja told her brother that she had acquired a “big passport” and asked him to buy a plane ticket to Vienna, and from there to Athens. He also stated that he had not spoken with sister since her disappearance and had hired a private detective whose work had failed.

Author: Marko Vidrih