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OneCoin $4 Bln Bitcoin Fraud Victims and Co-Mastermind Ignatov Agree On Settlement

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Fri, 08/07/2020 - 15:46
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Yuri Molchan
Investors who put their funds in OneCoin in what later proved to be a Bitcoin scam have agreed to a settlement with scam co-mastermind Konstantin Ignatov
OneCoin $4 Bln Bitcoin Fraud Victims and Co-Mastermind Ignatov Agree On Settlement
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Finance Magnates has reported the news that investors of OneCoin, the project that later proved to be a Bitcoin scam, have agreed to a settlement with Konstantin Ignatovthe brother of the scam’s originator, Ruja Ignatova. The latter is currently on the run.

Ignatov was also alleged to be Ignatova’s personal assistant in running the fraudulent scheme.

Settlement with OneCoin investors

Finance Magnates reported that plaintiffs Donald Berdeaux and Christine Grablis represent the interests of all those who put their money into OneCoin from spring 2014 to spring 2018 and lost their investments.

The plaintiffs have decided to settle the matter with Konstantin Ignatov. However, they intend to continue prosecution of their claims against the other participants of the scam who are defendants in the case, according to the filing.

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Class-action suit against CoinOne nearly dismissed

This spring, the U.S. court tasked with the case stated that it could be dismissed unless the plaintiffs provided substantiated reasons why the class-action lawsuit must continue.

The judge gave the plaintiffs a warning that they could be sanctioned if they do not comply.

Ignatov was arrested in March of last year. He was likely to be sentenced to ninety years' imprisonment.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.