While YEM coin, a dangerous crypto scam is continuing to operate under the umbrella of a Nevada-registered non-profit named ‘YEM Foundation’, the Federal Bureau of Investigation (FBI) profiled the Onecoin cryptocurrency scam and its co-founder Ruja Ignatova, aka “Crypto Queen” aka Ruzha Plamenova Ignatova, in a new podcast. Onecoin was one of the world’s biggest crypto scams and Ignatova was recently added to the FBI’s 10 most wanted fugitives list.
It may be mentioned here that a grand scam cartel named Bank Bene Merenti has been running fraudulent activities selling its fake YEM coin, which it calls “rainbowcurrency”. Kingpins of this notorious scam cartel is now trying to open its office in Dubai, although it has no physical office in Nevada, USA.
The Federal Bureau of Investigation (FBI) published an “Inside the FBI” podcast episode recently titled “Ten Most Wanted Fugitive Ruja Ignatova.” Also known to some as “Crypto Queen,” Ignatova co-founded Onecoin, one of the world’s largest cryptocurrency scams.
Inside the FBI podcast highlights news, cases, and people from around the bureau in audio form. The show’s host, Monica Grover from the FBI’s Office of Public Affairs, explained:
On this episode of Inside the FBI, we’ll learn how Ignatova, through a company once marketed as the ‘Bitcoin killer,’ didn’t change the world … but instead robbed investors of billions of dollars.
Ignatova was added to the FBI’s 10 most wanted fugitives list in June. The law enforcement agency is offering a reward of up to $100,000 for information leading to her arrest.
The Onecoin co-founder is also on the list of Europe’s most wanted. Europol is offering a reward of up to 5,000 euros (US$5,000) for any information that could lead to the arrest of Ignatova.
“On October 12, 2017, Ignatova was charged in connection with the Onecoin fraud scheme, and a federal warrant was issued for her arrest”, Grover explained in the seven-minute podcast episode, adding:
Investigators believe she may have been tipped off that she was under investigation. She traveled from Sofia, Bulgaria, to Athens, Greece, on October 25, 2017, and has not been seen since.
The Greek police reportedly received intelligence regarding the whereabouts of Ignatova in July.
“She’s currently 42 years old and has brown eyes and dark brown to black hair. However, investigators believe she could have changed her physical appearance”, Grover further detailed. “Ignatova speaks English, German, and Bulgarian. She may be traveling on a fraudulent passport and has known connections to Bulgaria, Germany, Russia, Greece, and the United Arab Emirates. She’s known to have lived a lavish lifestyle”.
The podcast concludes with Grover urging anyone with information about Ignatova to contact their local FBI office or the nearest American embassy or consulate. Tips can also be reported online anonymously.
Ruja Ignatova is best known as the founder of a Ponzi scheme known as OneCoin, which The Times has described as “one of the biggest scams in history”. She was the subject of the 2019 BBC podcast series The Missing Cryptoqueen.
Born in Ruse, Bulgaria, in 1980, Ignatova emigrated to Germany with her family when she was ten years old, and spent part of her childhood in Schramberg in the state of Baden-Württemberg. She got her BA from University of Oxford in England and in 2005, she earned a PhD in private international law from the University of Constance in Germany with the dissertation Art. 5 Nr. 1 EuGVO – Chancen und Perspektiven der Reform des Gerichtsstands am Erfüllungsort, which discusses lex causae in conflict of laws. She reportedly has also worked for McKinsey & Company.
Since 2017, Ignatova has been on the run from various international law enforcement agencies. In early 2019, she was charged in absentia by US authorities for wire fraud, securities fraud and money laundering. She was added to the FBI Ten Most Wanted in June 2022.
In 2012, she was convicted of fraud in Germany in connection with her and her father Plamen Ignatov’s acquisition of a company that shortly afterwards was declared bankrupt in dubious circumstances; she was given a suspended sentence of 14 months’ imprisonment.
In 2013, she was involved with a multi-level marketing scam called BigCoin.
In 2014, she founded a Ponzi scheme called OneCoin. In 2019, her brother Konstantin Ignatov pleaded guilty to fraud and money laundering in connection with the scheme.
In 2022, the police in Germany confirmed an investigation of “a lawyer from Neu-Isenburg” for possible money laundering: the transfer of 7.69 million euros by Ignatova into one of his private accounts in 2016. In January 2022 police searched apartments and offices in Weilburg, Baden-Baden, Frankfurt am Main, Bad Homburg, Neu-Isenburg and Vaihingen.
Ruja Ignatova disappeared in late 2017 after bugging an apartment belonging to her American boyfriend and learning he was cooperating with an FBI probe into OneCoin, Williams said. She boarded a flight from Bulgaria to Greece and has not been seen since, he said.
The YEM coin scam cartel
While hundreds and thousands of people in the crypto world already are feeling horrified at the serialized investigative report published by this newspaper exposing notorious scamming acts of Bank Bene Merenti, YEM coin and Dan Settgast, our investigative reporters have found extremely shocking information. Based on our information, authorities in the United States, including the Federal Bureau of Investigation (FBI) as well as authorities in the United Arab Emirates and other African countries should initiate immediate investigation into the matter and bring criminal charges against each of the members of this grand scam cartel.
Dan Settgast is one of the kingpins of the scam cartel named Bank Bene Merenti, which has been robbing-off hundreds of millions of dollars through fake YEM crypto by fooling people through false claims and well-orchestrated propaganda. By pretending as an affiliate of the Bank of Japan, this scam cartel is mainly cheating people from Uganda, Ghana, Gabon, Tanzania, Nigeria, Kenya, Gambia, Ethiopia, Congo, Sudan, Angola, Burkina Faso, Mozambique, Cameron, Madagascar, Mali, Malawi, Senegal, Chad, Somalia, Zimbabwe, Rwanda, Guinea, Benin, Burundi, Tunisia, Libya, Egypt, Sierra Leone, Togo, Central African Republic, Liberia, Mauritania, Eritrea, Botswana, Lesotho, Guinea-Bissau, Mauritius, Eswatini, Djibouti, Comoros, Cape Verde, Seychelles, as well as South Asian countries such as Bangladesh, India, Pakistan and Sri Lanka. According to credible sources, this racket has also expanded network in the Philippines, Indonesia, Malaysia, Lebanon, Jordan, Oman, Bahrain, Syria and UAE.
Media reports claim, Bank Bene Merenti has so far collected more than US$2.14 trillion by fooling people who lack adequate knowledge inter-based scam cartels in the world of crypto. These reports said, the YEM coin crypto which is sold by Bank Bene Meneti and few of its co-gangs is non-existent and people putting money into this fraudulent venture would definitely lose everything.
According to information, Bank Bene Merenti and YEM coin cartel is running under the umbrella of another entity named ‘YEM Foundation’, a domestic non-profit corporation registered in Las Vegas, Nevada, USA as a non-profit company. Company Number: E0553072017-8. Native Company Number” E0553072017-8. YEM Foundation does not have its own office in the US. Instead it uses a virtual office address provided by a company named PHYSICALADDRESS.COM.
Our investigative reporter in the US has already checked every detail of the YEM Foundation, and found that the YEM coin and Bank Bene Merenti scam cartel is using this US non-profit as a shield of their criminal activities. It is also learnt from credible source that hundreds of millions of cheat-fund of Bank Bene Merenti, YEM coin, Dan Settgast, Jorge Sebastiao and other members of YEM Foundation scam ring is secretly deposited in various offshore accounts with the help of the Nevada-based company that provides virtual office address (304 S JONES BLVD, Las Vegas, NV, 89107) to this cartel.
It is also learnt, Jorge Sebastiao, real name Nuno Jorge Da Cruz Sebastiao, a British national is the President of YEM Foundation and one of the top kingpins of the Bank Bene Merenti and YEM coin scam cartel.
Jorge Da Cruz Sebastiao is one of the key players in a Dubai-based company named EcoX, which has direct connections with Palestinian terrorist group Hamas.
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