OneCoin partner arrested in France

Luxembourgian citizen Frank Schneider, sought by U.S. authorities for fraud in the OneCoin cryptocurrency pyramid, has been detained in Audun-le-Tiche. This, according to L’essentiel.

He was arrested on the basis of an international arrest warrant issued by a New York court.

According to investigators, as a OneCoin partner, Schneider recruited the law firm Carter-Ruck and reputation-management firm Chelgate to pressure the United Kingdom’s Financial Conduct Authority (FCA). Subsequently, as a result, the regulator removed the warning about the OneCoin pyramid from its site, which OneCoin representatives used for PR campaigns.

In 2019, Frank Schneider appeared before a New York court on charges of money laundering and acting as an informant for OneCoin.

Earlier he was implicated in a case involving wiretapping by Luxembourg’s national security service.

He could be extradited to the United States in the near future.

The damage from the OneCoin pyramid is estimated at no less than $4 billion. The whereabouts of the alleged founder Ruja Ignatova has been unknown since 2017.

Read more about the Bulgarian cryptocurrency pyramid at the link below:

The Scam of the Decade: How a Doctor of Legal Sciences Organized the OneCoin Pyramid and Vanished with Billions of Euros

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