Ruja Ignatova, also identified as Cryptoqueen, has had her ex-boyfriend sentenced to five years behind bars for laundering an incredible $300 million from investors of the fraudulent crypto enterprise, OneCoin.
Gilbert Armenta’s active involvement in the fraudulent OneCoin venture came to light in 2018 when he pled guilty to charges of conspiracy to commit wire fraud, money laundering, and extortion. Despite his repeated violations of the law during two years of aiding prosecutors with their investigation into the scam, they still requested a lenient sentence due to his cooperation. However, considering that millions had been embezzled from innocent investors by him and other members involved with this project over time, authorities sought a longer prison term for Gilbert Armenta as a suitable punishment.
Ruja Ignatova Stole $4 Billion from People
In 2014, Ruja Ignatova, a Bulgarian native, crafted OneCoin – an intricate $4 billion multi-level marketing scam based on deception as she passed it off as a legitimate cryptocurrency. She promised that the currency would revolutionize the financial industry and was backed by gold reserves with blockchain technology more advanced than Bitcoin. Her propagators claimed that there was an exact amount of 120 billion coins to be issued and that OneCoin would eventually become one of the most sought-after cryptocurrencies in the world.
In addition, they guaranteed substantial returns to investors who purchased the coins and advertised them through multi-level marketing schemes in which participants earned commissions for recruiting new investors.
Unfortunately, it was later revealed that OneCoin is nothing more than a Ponzi scheme and does not utilize blockchain technology or real cryptocurrency.
Cryptoqueen is Ex-Boyfriend Helped with Money Laundering
The founders of OneCoin, a notorious fraudulent enterprise described as one of the biggest and most intricate scams in history, gained billions from unsuspecting investors worldwide. Their deceit cost numerous individuals their entire life savings and caused much anguish. Fortunately, justice has finally been served, with Gilbert Armenta receiving her conviction for aiding the Cryptoqueen in money laundering and evading prosecution– giving hope to millions who were taken advantage of that they may be able to reclaim what was stolen from them.
OneCoin scammed millions of people out of an estimated $4 billion between its launch in 2016. The company deceptively enticed investors to purchase educational packages ranging in price from 100-118,000 euros to trade digital assets.
Cryptoqueen Is still on the FBI’s Most Wanted List
In 2017, the Cryptoqueen captivated and perplexed the world with her mysterious disappearance. Dubbed “the woman who scammed the world” by BBC News, reports surfaced that she may have fled to a luxurious yacht on the Mediterranean Sea while taking large portions of stolen money along for her getaway.
The FBI quickly stepped in and added her to their renowned list of 10 Most Wanted Fugitives; they even put up an impressive bounty reward totaling $100K for anyone providing information leading to her capture.
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