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OnceCoin scam investors voluntarily dismiss class-action lawsuit after Ruja Ignatova settlement.

chaintimes.com 12 October 2021 15:25, UTC
Reading time: ~2 m

A group of investors who had filed a class-action lawsuit against some of the top executives at OneCoin and other related entities has dismissed the claims in their entirety. The investors had earlier on settled with OneCoin mastermind Ruja Ignatova and her brother Konstantin Ignatov. The OneCoin saga has been ongoing for years.

OneCoin founder “Crypto Queen” Ruja is still at large.

The OneCoin saga has been ongoing for years. Founder “Crypto Queen” Ruja is still at large, and the billions of dollars she reportedly swindled from investors have yet to be recovered. While there have been arrests globally related to the scam, not much has come of them. The class-action lawsuit filed by lead plaintiffs Donald Berdeaux and Christine Grablis was one of the remaining strong cases against the scammers. In late September, Donald and Christine had dismissed some of the defendants from the claims, including lawyer Mark Scott, Nicole Huesmann, and the Bank of New York Mellon. 

OneCoin is a defunct entity with no assets.

In their latest move, they have now dropped the name of OneCoin Limited, Ruja, and top executives Sebastian Greenwood and Gilbert Armenta. In their dismissal, they stated that OneCoin is a defunct entity with no assets. Additionally, the lead operator and founder, Ignatova, is still at large. Gilbert and Sebastian have been apprehended and remain in police custody and have been charged separately for their role in the global scam. In their court filings, the plaintiffs stated, “Plaintiffs have concluded that the dismissal of Mark Scott, David Pike, Nicole Huesmann and Bank of New York Mellon Corporation from this Action has rendered this litigation untenable and no longer a productive use of judicial resources, due largely to the fact that the remaining defendants all appear to be essentially judgment proof….”

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