Brother of OneCoin Crypto Scheme Founder Could Face Up to 90 Years in Prison
Brother of the founder of the Bulgarian crypto company OneCoin Ltd. Konstantin Ignatov pleaded guilty to several charges, including participation in money laundering and fraud, writes the BBC.
Ignatov made a deal with the investigation on October 4, but this became known only this week. Under the terms of the agreement, Ignatov will not face new charges that continue to arise during the investigation of OneCoin’s activities, with the exception of possible violations of tax laws. Already existing charges, however, may be enough for him to go to prison for 90 years, says BBC.
OneCoin has attracted about $ 4 billion in investments and has been recognized as a pyramid scheme in several jurisdictions. The service itself denies all charges and continues to function.
Ignatov can be included in the witness protection program and receive documents under a new name. According to court documents, the fact of his cooperation with the authorities may pose a threat to himself or his family.
During the trial, Ignatov named additional circumstances of the disappearance of his sister Ruzha. According to him, until the moment of her disappearance, she lived in Sofia, but she feared that someone from her entourage would turn her over to the FBI. Ignatova told her brother that she had acquired a “large passport” and asked him to buy a plane ticket to Vienna and from there to Athens. He also stated that he had not spoken to Rouge since her disappearance and hired a private detective whose work did not bring results..
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