FBI places $5 million bounty on 'Cryptoqueen' Ruja Ignatova
What's the story
Ruja Ignatova, dubbed the "Cryptoqueen," is a fugitive wanted by the Federal Bureau of Investigation (FBI) for orchestrating a $4 billion Ponzi scheme.
An Oxford-educated Bulgarian national, she is accused of luring clients to invest in a worthless cryptocurrency.
She has been eluding international authorities for seven years and remains one of the FBI's most elusive "Most Wanted" suspects since June 2022.
The FBI has now placed a $5 million bounty on her head.
On the run
Ignatova's elusive escape and possible disguise
Ignatova, possibly traveling on a German passport, has not been seen since 2017.
She is believed to be moving between various countries such as the UAE, Bulgaria, Germany, Russia, Greece, and Eastern Europe.
The FBI suspects she may be accompanied by armed guards or associates and might have undergone plastic surgery to change her appearance and deceive authorities.
About the scam
OneCoin: The $4 billion cryptocurrency scam
Ignatova founded OneCoin Ltd., a Bulgaria-based company that promoted a supposed cryptocurrency.
She allegedly made false statements to solicit investments in OneCoin, defrauding victims of more than $4 billion.
The US government has labeled OneCoin as one of the "biggest fraud schemes" in global history.
Authorities reported that a minimum of 3.5 million investors fell victim to the OneCoin scam.
Accomplice apprehended
Last known whereabouts and accomplice's arrest
Ignatova was last seen on October 25, 2017, boarding a commercial flight from Sofia, Bulgaria to Athens, Greece.
Her accomplice, Swedish national Karl Greenwood, was arrested and sentenced to 20 years in US District Court in Manhattan last year.
Greenwood pleaded guilty to wire fraud and money laundering charges related to the cryptocurrency scam, pocketing over $300 million.
Bounty boosted
Bounty increased to $5 million for Ignatova's arrest or conviction
The US State Department has raised the bounty for information leading to Ignatova's arrest or conviction from an initial $250,000 offered by the FBI in 2022 to $5 million.
This increase falls under the State Department's Transnational Organized Crime Rewards Program.
Bulgarian authorities have also announced that Ignatova will face an indictment for her involvement in the cryptocurrency Ponzi scheme.