OneCoin’s Ruja Ignatova believed to be hiding in Cape Town

According to recent research conducted in Germany, Cryptoqueen Ruja Ignatova, the mastermind behind OneCoin Ponzi, may be hiding in South Africa.

Ignatova, an Oxford-educated Bulgarian, disappeared in October 2017 after defrauding millions through a fake cryptocurrency scheme, sparking numerous theories about her whereabouts, including claims she may have been murdered.

But German detectives now claim he resides in a posh neighborhood near Cape Town known for attracting foreign criminals and offering high-security properties.

According to The Times, Sabine Dässel, representative of the criminal investigation agency (LKA) of the German state of North Rhine-Westphalia, confirmed in the WDR documentary ‘Die Kryptoqueen’ that the authorities are continuing their investigations with the assumption that Ruja Ignatova is alive.

Although investigators are unsure of the crypto queen’s whereabouts, Dässel said all evidence points to Cape Town, where she was reportedly seen.

Investigators noted that Ignatova visited Cape Town several times after the disappearance of her brother Konstantin, leading to speculation that she was taking instructions from her sister.

Konstantin, who took over OneCoin operations after Ignatova’s escape, later cooperated with the FBI and spent three years in a US prison. He claimed Ignatova escaped with £500 million, financing her escape and securing false identities.

The documentary also explored links between Ignatova and Bulgarian organized crime figures, including Christoforos Nikos Amanatidis, also known as Taki. Amanatidis, who has not been convicted of any crime, allegedly used OneCoin to launder proceeds from criminal activities.

Taki was believed to have ordered the killing of Ignatova in Greece in 2018, but the documentary denied this claim, citing information from LKA that the alleged shooter was in prison at the time of the incident. Other studies also failed to confirm this claim.

Another claim supporting the possibility that the notorious fraudster is alive comes from Duncan Arthur, a key figure in the Ignatova operation, who revealed to documentary makers that he continued to speak regularly to his sister after Konstantin disappeared in 2017.

German officials are not the only ones who believe Ignatova is alive. The FBI continues to list him among the ten most wanted fugitives and recently increased the reward for information leading to his arrest from $100,000 to $5 million. The agency also suspects that she may have undergone plastic surgery to change her appearance.

$4 billion fraud

Between 2014 and 2017, Ignatova and her accomplices defrauded investors of approximately $4.3 billion by promising high returns through OneCoin, a non-existent cryptocurrency not built on any blockchain.

While Ignatova disappeared, several of her accomplices were also arrested and sentenced over the years. For example, the program’s co-founder Karl Greenwood is serving a 20-year prison sentence for fraud, while the operation’s legal head, Irina Dilkinska, was convicted of fraud and money laundering.

Meanwhile, another lawyer involved in OneCoin, Mark Scott, was sentenced to 10 years in prison after a significant testimony by Konstantin Ignatov, which led to Konstantin Ignatov’s prison sentence being shortened.

Ignatova currently faces wire and securities fraud charges in the United States, Germany, Bulgaria and India.