OneCoin investors representing plaintiffs Donald Berdeaux and Christine Grablis have agreed to settle with Konstantin Ignatov, Onecoin co-mastermind.
Ignotov is no longer one of the key defendants in legal actions brought by victims of the $4 billion scam. The case will continue to target another key OneCoin figure Ignatov’s sister and business partner, Ruja Ignatova. Plaintiffs Berdeaux and Grablis said they are still “not impeding” further prosecution against other defendants.
Ruja Ignatova, the co-founder of OneCoin, went missing in 2017 after a secret U.S. warrant was filed for her arrest. She was the subject of the 2019 BBC podcast series The Missing Cryptoqueen
OneCoin is a Ponzi scheme promoted as a cryptocurrency by Bulgaria-based offshore companies OneCoin Ltd and OneLife Network Ltd, both founded by Ruja Ignatova in concert with Sebastian Greenwood. OneCoin is considered a Ponzi scheme due to its organisational structure and because of the previous involvement of many of those central to OneCoin in similar schemes. It was described by The Times as “one of the biggest scams in history.