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Indian Police Prepares Prosecution against Ruja Ignatova, OneCoin Founder

12 July 2017 09:32, UTC
Indian authorities prepare charges against promoters participating in OneCoin, the investment scheme of digital currency, which may be a Ponzi scheme according to law-enforcement authorities.

According to CoinDesk, with reference to regional news source The Indian Express, the Economic Offenses Wing of the Navi Mumbai Police prepared a charge against dozens of individuals involved in collecting thousands of dollars from investors.

Police of India, one of the countries where OneCoin activity is being investigated, has been looking for individuals implied in the crime starting from April when a group of persons was arrested after a promotional event. Ruja Ignatova, one of the personscharged, is OneCoin founder and was largely considered as a public person appearing at events all over the world including one in Macau this May. A group of “almost 30” people has been accused as a result of police investigation in Mumbai.

According to the publication, investigators have difficulty talking on the fraud with some of the individuals involved in OneCoin scheme because it is classified as a Ponzi scheme when investors become criminals as well as victims.

The police also came to a dead end because they would like to recover the funds. Officials informed that as long as the funds are seized from corresponding bank accounts, a part of money was recalled by external sources.