Bulgaria to press charges in absentia and confiscate property of 'cryptoqueen' Ruja Ignatova valued at 10 million dollars

The US government announced a new reward of up to $5 million for information leading to the arrest of the "One Coin" founder Ruja Ignatova.

In Bulgaria, Ignatova will be charged in absentia and the authorities will take steps towards the confiscation of 10 million dollars in assets. Bulgaria’s acting Prosecutor General, Borislav Sarafov and the US Ambassador Kenneth Merten announced on June 26 that the Bulgarian Prosecutor's office and the FBI are jointly investigating the financial pyramid "One Coin".

Seven years after the disappearance of cryptoqueen, Ruja Ignatova, the US government is increasing the reward 20-fold for information that could be useful and lead to her arrest and conviction.

"Today, the U.S. government is announcing a new reward of up to $5 million for information leading to the arrest and/or conviction of Bulgarian-born German citizen Ruja Ignatova," said Kenneth Merten, U.S. Ambassador to Bulgaria.

Ruja Ignatova went missing in the autumn of 2017, exactly two weeks after she was indicted in the US for large-scale fraud committed through the financial pyramid scheme "One Coin".

"Ms. Ignatova is wanted in the United States and Germany for her involvement in one of the world's most extensive fraud schemes in history, through which she scammed investors out of over $4 billion," Kenneth Merten explained.

The latest information available to the FBI and Bulgarian authorities is that Ignatova left Bulgaria and traveled to Athens in October 2017.

"Two years ago, in 2022, she was added to the FBI's top ten most wanted fugitives list," Kenneth Merten added.

During those years, the investigation against Ignatova in Bulgaria was also ongoing, but not enough evidence was gathered to bring charges.

"However, we, the Bulgarian Prosecutor's office and security services, are actively working together with our American counterparts. Under the conditions of constant exchange of information, we are also conducting our investigation. In Bulgaria, Ruja Ignatova will be indicted in absentia, which, in addition to the criminal sanction against her, will allow us to take the necessary action to initiate a procedure for the confiscation of her illegally acquired property with the funds obtained by her in a criminal manner through the financial pyramid scheme "One Coin", which she led," said Borislav Sarafov, acting Prosecutor General.

"One Coin" is registered in the offshore zone Gibraltar. The activity is mainly focused on attracting depositors from the Middle and Far East. However, the Bulgarian Financial Intelligence has managed to detect a transfer of EUR 15 million, which is the basis for an investigation into money laundering from financial fraud.

"And a permanent restraint of the funds has been requested and granted by the court. Assets have been identified that were acquired with illegal funds worth more than 10 million euros," explained Plamen Tonchev, Head of the State Agency for National Security (SANS).

Images by BGNES

Following the indictment of Ruja Ignatova in absentia, the authorities will seek confiscation of the property and the restrained money.