The co-founder of the OneCoin scam will avoid 90 years in prison
Konstantin Ignatov, a co-founder of the OneCoin scam, was initially imprisoned for 90 years after pleading guilty in November 2019. Now, however, according to a report by Finance Magnates on August 7, Ignotow is no longer a key defendant in lawsuits brought by scam victims.
OneCoin investors representing plaintiffs Donald Berdeaux and Christine Grablis agreed to a settlement with Ignatov.
While the details of the court settlement remain unclear, the documents indicate that the case will still be with another key figure of OneCoin - Ignatov's sister and business partner, Ruja Ignatova. She went missing in 2017 after the Secret Service issued an American arrest warrant for her. Representing all investors who have suffered large financial losses as a result of the $ 4 billion fraud, Berdeaux and Grablis said they still "did not in any way impede" the further prosecution of other defendants.
In April 2020, a U.S. judge warned plaintiffs that the class action could be dismissed unless they provide good reasons for not doing so. Earlier, the New York South District Court, at the request of the US government, also adjourned Ignatov for three months.
While the exact reasons for the outcome of the case are not yet clear, Ignatov is known to take action against his missing sister. In November 2019, Ignatov revealed that before disappearing in 2017, he had received a passport and tickets to Austria and Greece from her home in Bulgaria. Ignatov also reportedly hired a private investigator to find his sister, while claiming that he had not spoken to her since her disappearance.