The ex-boyfriend of fugitive Ruja Ignatova (sometimes called Cryptoqueen) used to be sentenced to 5 years in jail for laundering $300 million in profits from buyers of the artificial crypto challenge, OneCoin.

Gilbert Armenta, who held a number of necessary posts within the OneCoin challenge, used to be convicted of actively attractive in a scheme that embezzled buyers out of thousands and thousands of bucks.

He pled responsible in 2018 to conspiring to dedicate cord fraud, cash laundering, and extortion in terms of the OneCoin mission.

Armenta aided prosecutors in unraveling the rip-off for 2 years whilst committing further felonies, compelling government to hunt a lengthier jail time period.

Cryptoqueen And Her Pretend Virtual Forex

In 2014, Ignatova, a Bulgarian nationwide, introduced OneCoin, a $4 billion multi level marketing fraud in keeping with a faux cryptocurrency.

OneCoin used to be advertised as a virtual forex that might develop into the monetary trade, and its promoters claimed that it used to be sponsored by means of gold reserves and applied blockchain generation presupposed to be higher than Bitcoin.

OneCoin’s proponents asserted that the forex had a set amount of 120 billion cash and that it’s going to transform probably the most international’s most dear cryptocurrencies.


Ruja Ignatova a.ok.a. Cryptoqueen. Symbol: BBC

As well as, they assured considerable returns to buyers who bought the cash and marketed them thru multi-level advertising and marketing schemes during which contributors earned commissions for recruiting new buyers.

However, OneCoin used to be printed to be a Ponzi scheme that used to be now not supported by means of blockchain generation or exact cryptocurrency.

Cryptoqueen Boyfriend Aided In Cash Laundering

Its founders accumulated billions of bucks from buyers international. The fraud resulted within the lack of the existence financial savings of a lot of buyers.

Armenta’s conviction is the latest transfer within the long investigation into OneCoin, which has been described as probably the most biggest and maximum subtle frauds in historical past.

Symbol: IRTIS

Armenta used to be accused of aiding Ignatova in cash laundering and evading justice in terms of the fraudulent endeavor. The sentencing is a aid for the thousands and thousands of buyers who have been duped by means of the fraud, a lot of whom haven’t begun to obtain their a reimbursement.

Between its release and 2016, OneCoin defrauded thousands and thousands of other people to the music of about $4 billion. The corporate’s founders solicited buyers to buy instructional programs for buying and selling virtual property ranging in worth from 100 to 118,000 euros.

Crypto general marketplace cap at $1 trillion at the day by day chart | Chart:

Cryptoqueen: One Of FBI’s Maximum Sought after Fugitives

In 2017, Ignatova, branded by means of the BBC as “the girl who scammed the sector,” used to be final observed in Athens, Greece. Some reviews claimed that she can have hidden on a luxurious yacht within the Mediterranean Sea with a good portion of the stolen monies.

The Federal Bureau of Investigation (FBI) joined the seek for the Cryptoqueen by means of putting her on its checklist of the “10 Maximum Sought after Fugitives.” As well as, the company presented a $100,000 praise for info resulting in her location and arrest.

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