US Offers $5 Million Reward for Fugitive Ruja Ignatova in Major Financial Fraud Casev

The United States government has announced a reward of up to $5 million for information leading to the arrest of Ruja Ignatova, a fugitive implicated in one of the largest financial fraud schemes in history.

This announcement comes amid an extensive investigation involving both Bulgarian and American authorities, as disclosed by Bulgarian officials and the US Ambassador to Bulgaria, Kenneth Merten.

Ignatova, often referred to as the “Cryptoqueen,” is at the center of the “One Coin” financial pyramid scheme, which defrauded investors of over $4 billion.

Since fleeing Sofia for Athens in 2017 to evade arrest, Ignatova has remained at large. In 2022, she was added to the FBI’s Ten Most Wanted Fugitives list, underscoring the severity and global impact of her alleged crimes.

During a press conference, Bulgaria’s temporary chief prosecutor, Borislav Sarafov, emphasized the collaborative efforts between Bulgarian and US law enforcement agencies to bring Ignatova to justice.

Sarafov detailed ongoing investigations in both countries, which aim to dismantle the remnants of the “One Coin” scheme and hold Ignatova accountable.

He also mentioned that Bulgaria plans to initiate legal proceedings against Ignatova in absentia, a move intended to facilitate the seizure of assets acquired through illicit means.

US Ambassador Kenneth Merten highlighted the seriousness of the charges against Ignatova. He described the “One Coin” scheme as a massive fraud operation, likened to a pyramid scheme, that targeted investors worldwide.

Merten reiterated the US government’s commitment to supporting Bulgarian authorities in their efforts to capture Ignatova and ensure she faces justice for her crimes.

Plamen Tonchev, head of Bulgaria’s State Agency “National Security” (SANS), provided further context on Ignatova’s role in the “One Coin” scheme. Tonchev explained that the scheme operated primarily in the Middle East, drawing in thousands of investors with promises of substantial returns.

However, it soon became apparent that “One Coin” was a fraudulent operation designed to enrich its founders at the expense of unsuspecting victims.

The coordinated efforts between Bulgarian and American authorities reflect the international scope of Ignatova’s alleged criminal activities. By offering a significant reward for information leading to her arrest, both countries aim to leverage public support in tracking down the fugitive.

This reward underscores the determination of both nations to pursue justice and hold accountable those responsible for such extensive financial deceit.

Ignatova’s disappearance in 2017 marked the beginning of an extensive manhunt. Despite numerous leads and extensive resources dedicated to her capture, she has managed to evade law enforcement for years.

The announcement of the $5 million reward is seen as a crucial step in renewing efforts to locate and apprehend her. The “One Coin” scheme, which promised high returns on investments in a purported cryptocurrency, lured investors from around the globe.

The operation was eventually exposed as a Ponzi scheme, where early investors were paid returns from the investments of newer participants. The collapse of “One Coin” left a trail of financial ruin, with many victims losing their life savings.

The latest developments in the case of Ruja Ignatova highlight the ongoing commitment of both Bulgarian and US authorities to bringing her to justice.

The significant reward offered for information leading to her arrest is a testament to the gravity of her alleged crimes and the determination of law enforcement agencies to ensure she faces the consequences of her actions.

This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members