OneCoin Co-Founder Escapes 90-Year Jail Term After Court Settlement


OneCoin co-founder, Konstantin Ignatov, who pleaded guilty to a crypto exit scam has escaped his 90 years jail term.

August 8, 2020 | AtoZ Markets – The co-founder of major cryptocurrency exit scam, OneCoin, Konstantin Ignatov, initially faced up to 90 years in jail after pleading guilty in November 2019 for his role in the scam. Now, however, it seems that Ignotov is no longer one of the key defendants in legal actions brought by victims of the $4 billion scam. 

OneCoin investors agree to settle with Konstantin Ignatov

OneCoin investors representing plaintiffs Donald Berdeaux and Christine Grablis have agreed to settle with the co-founder. As the details of the court settlement remain unclear, court documents indicate that the case will continue to target another key OneCoin figure Ignatov’s sister and business partner, Ruja Ignatova. Ruja Ignatov, aka “Crypto Queen”, went missing in 2017 after the U.S. issued a warrant for her arrest.

Related article: OneCoin Scam timeline – where is Ruja Ignatova?

Representing investors who suffered major financial losses in the $4 billion Onecoin scam, plaintiffs Berdeaux and Grablis said they are still “not impeding” further prosecution against other defendants. Earlier this year, the US court judge warned the plaintiffs that the court could dismiss the case if they fail to provide details showing the reasons not to dismiss the class-action lawsuit. 

OneCoin co-founder provided authorities with the details of the scam 

Earlier, the New York Southern District Court also adjourned Ignatov’s sentencing for three months at the request of the U.S. government. While the exact reasons for settling the case are unclear, Ignatov spoke against his missing sister. 

In 2019, Ignatov told authorities that her sister obtained a passport and tickets to Austria and Greece from her home in Bulgaria before disappearing in 2017. Ignatov also allegedly hired a private investigator to find the mastermind of the scam. However, he claims not to have spoken to her since she disappeared. 

Think we missed something? Let us know in the comment section below.

  1. Mayowa says:

    Awesome. What about our money?

Share Your Opinion, Write a Comment