Accused confesses - "Cryptoqueen" still on the run

The former head of compliance in the billion-dollar OneCoin crypto fraud case has pleaded guilty. The search for "Cryptoqueen" Ignatova continues.

According to the US Department of Justice, the former head of the legal and compliance department allegedly confessed to involvement in money laundering and fraud crimes.

She was also involved in "the transfer of $110 million in fraudulently obtained OneCoin proceeds to a company in the Cayman Islands." according to the press release.

Prosecutor Damian Williams stated that as the alleged "Head of Legal Affairs and Compliance," the defendant had accomplished the exact opposite of what her position was intended to do.

He added, "The dedicated prosecutors in this office and our partners in law enforcement will continue to prosecute this important case until every defendant is brought to justice."

If convicted, the defendants could face up to 10 years in prison. Sentencing is scheduled for Feb. 14, 2024.

OneCoin is considered the biggest cryptocurrency scam to date. Investors were sold cryptocurrencies that never existed around 2014. Four billion US dollars was embezzled.

Ruja Ignatova, known as the "Cryptoqueen," was the face of OneCoin. She has been on the run for years. The FBI placed the globally wanted fraudster on its 2022 list of the 10 most wanted.