Regulation

OneCoin Ponzi Promoters Agreed To Testify Part Of Settlements Against The Filed Lawsuit.

The brother of OneCoin’s fugitive founder Ruja Ignatova named Konstantin Ignatov & a leading figure behind the $4 Bln OneCoin Ponzi scheme, agreed to testify against his sister as a part of a settlement that saw Ignatov dismissed from civil litigation targeting the scam.

Newly reported details regarding the settlement’s terms reveal that Ignatov has agreed both to cooperate with the category of OneCoin invOnCoinestors bringing the lawsuit forward and to testify against his sister on their behalf should the suit attend trial.

Ignatov is additionally a defendant and cooperating witness within a parallel criminal case, together with his testimony helping secure the conviction of lawyer & alleged OneCoin money launderer Mark Scott earlier in Nov last year.

Ignatov pled guilty to charges of money laundering and conspiracy to commit wire fraud earlier in October, and is facing up to 90 years imprisonment within the criminal case. Ignatov’s sentencing is presently scheduled for 11th Nov.

In November, Ignatov told New York prosecutors that Phoenix Thoroughbreds’ owner Amer Abdulaziz Salman was a key “money-cleaner” operating under the guidance of Mark Scott’s co-conspirator and Ignatova’s former lover Gilbert Armena.

Reports indicate that the Phoenix Thoroughbreds racing firm was banned from French competition for its alleged ties to OneCoin over the past week, with the firm also withdrawing from British events.

Abdulaziz and Phoenix Thoroughbreds have rejected the alleged association with the Ponzi scheme.

Even last month, the dead bodies of two-former OneCoin promoters were found in Mexico.

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