OneCoin Founder Ruja Ignatova Allegedly Hiding in Russia

Ruja Ignatova, the founder of the cryptocurrency pyramid scheme OneCoin, reportedly had connections within Kremlin circles and may be hiding in Russia. This was revealed in a letter to Decrypt by BBC investigative journalist Joran Tsalov. 

The source cites information obtained during an interview with Ignatova’s former security advisor, Frank Schneider. Schneider allegedly confirmed the fraudster’s interactions “with many people and interested parties connected to the Kremlin.”

Schneider, a former Swiss spy and founder of a private detective agency later hired by OneCoin, was placed under house arrest in France in spring 2021 as part of the pyramid scheme investigation, awaiting extradition to the US. However, he disappeared in 2023. 

The journalist also established a link between some companies laundering money through OneCoin and former Ukrainian President Viktor Yanukovych, who resides in Russia.

According to Tsalov, Schneider’s escape indicates his capability to orchestrate Ignatova’s disappearance from Bulgaria.

“For the criminals involved in this case, it is much easier to keep her alive and manage their assets through her,” he added.

Earlier, ForkLog reported that German police are investigating the possibility of the “crypto queen’s” whereabouts in Cape Town, South Africa. These leads were obtained from a documentary aired on a regional German TV channel.

The damage caused by the OneCoin crypto pyramid is estimated at a minimum of $4 billion. Ruja Ignatova’s whereabouts have been unknown since 2017.

In May 2022, Europol included her in the list of most wanted criminals. Subsequently, the FBI added the OneCoin founder to a similar list.

In February 2023, the BIRD project, citing Bulgarian police documents, reported that the entrepreneur was killed in 2018 on a yacht in the Ionian Sea.