- More than 400 OneCoin scam victims have successfully obtained a global asset freeze against those involved in the fraud
- Founders Ruja Ignatova and Karl Sebastian Greenwood, along with several influencers, are being targeted in the lawsuit
- The UK law firm Mishcon de Reya is leading a collective legal action to recover losses, while Irina Dilinska has been sentenced to 4 years in prison
The OneCoin case is still making waves in the financial world. More than 400 investors are looking to get justice at the High Court in London. They want to get back the $4 billion they lost in the scam.
The feds have put the freeze on a bunch of suspects, including the founders of OneCoin and a few of the key influencers.
Global Freezing Orders Issued in Massive OneCoin Crypto Fraud Case
It looks like the OneCoin case is heading straight to the High Court in London. Over 400 investors who were duped by the crypto scam are joining the legal action, aiming to recover their losses, which total $4 billion.
For now, a global freezing order has been obtained against many people and companies linked to OneCoin, who are considered alleged fraudsters.
The main focus is on Ruja Ignatova and Karl Sebastian Greenwood, the founders of OneCoin, as well as OneCoin Limited and One Network Services Limited, the companies behind one of the biggest crypto scams.
Other people accused include several OneCoin influencers, such as Karri Wahlroos, Dr. Muhammed Zafar, Moynul Islam, and his brother Monirul Islam. Also on the list are Christopher Hamilton and Robert MacDonald, who are thought to have laundered large sums of money from the OneCoin fraud. The actions of these individuals are now under investigation.
The Legal Battle Against the Conspiracy Behind the Crypto Scam
The group of investors is represented by lawyers from the international law firm Mishcon de Reya LLP.
The lawsuit against the people and companies involved with OneCoin says it’s a conspiracy using illegal methods, deceit, breach of fiduciary duty, and dishonest assistance. It also says it’s a breach of Section 423 of the Insolvency Act 1986.
In this regard, Rhymal Persad, a partner at Mishcon de Reya, explained:
“The fraudulent scheme of OneCoin has had a profound impact on the lives of its victims, ranging from sophisticated investors to novices, all of whom lost significant amounts in what is considered one of the largest frauds ever perpetrated.
On behalf of the victims, Mishcon de Reya has initiated what we understand to be the first collective action of its kind in the UK. The legal action at the High Court in London aims to obtain compensation for investors who were deceived and suffered losses as a result.”
This legal action against the alleged fraudsters is initiated on an “opt-in” basis. This means that OneCoin victims who want to participate can join to seek their compensation.
The CryptoQueen on the Run and the 4-Year Prison Sentence for the Legal Officer
On one hand, Ruja Ignatova, nicknamed “CryptoQueen,” is still being sought, while on the other hand, the legal officer Irina Dilinska has been arrested and sentenced. Indeed, in January 2023, the
CryptoQueen was added to the FBI’s list of the top 10 most wanted fugitives after she managed to escape for more than five years. On the other hand, in April 2024, it was reported that Dilinska had been sentenced by the Southern District Judge in New York to four years in prison.
Conclusions
The legal action against OneCoin is one of the largest collective lawsuits in the UK. It aims to secure justice for the victims of this extensive scam.
While Ruja Ignatova, aka CryptoQueen, remains on the run, the sentencing of Irina Dilinska marks a significant step toward recovering funds and holding those responsible accountable.
