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German Trial Reveals OneCoin Cryptoqueen’s USD 18.2M London Penthouse

Because the German lawyer of Ruja Ignatova, the creator of the infamous OneCoin Ponzi scheme, is on trial in Germany on cash laundering fees, the authorized proceedings have shed some gentle on her property together with the acquisition of a luxurious London penthouse. 

Earlier than vanishing off the face of the earth in 2017, the so-called ‘Cryptoqueen’ used the rip-off’s proceeds to fund a lavish way of life that included a 7,000 sq ft (650 sq m) penthouse within the metropolis’s prosperous Kensington district. The property is estimated to be value some GBP 13.5m (USD 18.2m), in accordance with information obtained by the BBC.

Ruja’s German lawyer, Martin Breidenbach, is on trial in Münster, Germany, together with two different people. He’s accused of cash laundering by facilitating a switch of EUR 20m (USD 23.2m) to a London regulation agency. The funds had been used to purchase the posh condo.

The four-bedroom penthouse, positioned in a constructing fitted with a swimming pool, was crammed with worthwhile artwork that included an Andy Warhol portray stuffed in a cabinet, stated Jamie Bartlett of The Lacking Cryptoqueen podcast. 

This “broke my coronary heart as a result of I went to artwork faculty,” he was quoted as saying.

The property deed lists Abbots Home Penthouse Restricted because the property’s proprietor. The nameless Guernsey shell firm allowed Ruja to buy the condo with out having her title seem on the deed, or in public data on Channel Island.

Beneath the rip-off, traders worldwide had been promised assured returns as excessive as 300% for investing bitcoin (BTC) or US {dollars} with a Nevada-based outfit. The pretend cryptocurrency arrange by Bulgaria-based offshore companies OneCoin Ltd and OneLife Community Ltd which had been registered in Dubai and Belize, respectively. Estimates of the losses generated by the worldwide ponzi scheme differ, however US prosecutors alleged OneCoin might rip-off traders the world over out of USD 4bn.

In late 2020, it was reported that British star actress Kate Winslet joined the solid of Faux!, a movement image in improvement that’s to retell the story behind OneCoin.
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– South African ‘Exit Rip-off’ Sees Brothers Vanish with USD 3.6B in Bitcoin
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