Ruja Ignatova. Picture: X/@nezuron_
“CryptoQueen” Ruja Ignatova, accused of scamming more than $4 billion in Bulgaria and across Europe, is believed to be hiding in Cape Town, South Africa.
Ignatova, originally from Bulgaria and missing since 2017, is currently on the Federal Bureau of Investigation’s (FBI) most wanted list.
The FBI is offering a $5 million (approximately R90 million) reward for information that may lead to the arrest and conviction of Ignatova.
According to the FBI, the “CryptoQueen” is believed to be travelling with armed guards or associates.
“Ignatova may have had plastic surgery or otherwise altered her appearance,” the FBI said.
Ignatova is wanted for her alleged involvement in a large-scale fraud scheme that began in 2014.
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The FBI alleges Ignatova and her associates defrauded billions of dollars from investors worldwide.
“Ignatova was the founder of OneCoin Ltd, a Bulgaria-based company that marketed a purported cryptocurrency.
“In order to execute the scheme, Ignatova allegedly made false statements and representations to individuals in order to solicit investments in OneCoin,” the FBI said.
“She allegedly instructed victims to transmit investment funds to OneCoin accounts in order to purchase OneCoin packages, causing victims to send wire transfers representing these investments. Throughout the scheme, OneCoin is believed to have defrauded victims out of more than $4 billion.
“Ignatova served as OneCoin’s top leader through October 2017. On 25 October 2017, Ignatova travelled from Sofia, Bulgaria, to Athens, Greece, and may have travelled elsewhere,” the FBI said.
Rumours suggest Ignatova may have been killed by former business partners from the underworld, with her body reportedly dismembered and dumped in the Ionian Sea.
However, German police are investigating the possibility that she is alive and hiding in South Africa, as reported by The Daily Maverick.
The Citizen has reached out to Police Minister Senzo Mchunu’s spokesperson for comment, which will be added once received.
Clues pointing to Ignatova’s presence in South Africa were first reported in Germany, including in a documentary.
German publication Der Spiegel also published an article on 8 November 2024 suggesting that police there suspected that previous reports of Ignatova’s death were false and that they were following leads in South Africa.
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