OneCoin founder ignored a $4 billion fraud lawsuit

Ruja Ignatova, founder of the OneCoin pyramid scheme, did not respond to the lawsuit related to the alleged $4 billion fraud, according to Law360.

Ignatova, her company OneCoin, and banker Gilbert Arment “did not provide a response or otherwise did not respond to the suit,” according to the filings.

Earlier, the court warned plaintiffs Kristin Grablis and Donald Bardo that the case could be delayed if they do not provide information about attempts to serve the defendants.

According to the latest data, the papers were served on Ignatova, who has been a fugitive since 2017.

In March 2019, Ignatova’s brother Konstantin was detained at Los Angeles airport. He agreed to testify against his sister.

In 2020, the court revoked the license of OneCoin lawyer Mark Scott. Earlier he was found guilty of laundering $400 million.

Earlier, in March 2021, authorities arrested OneCoin partner Frank Schneider in the French town of Oden-le-Tish on the basis of an international warrant issued by a New York court.

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