Konstantin Ignatov has received time served for his role in OneCoin.

As reported by Matt Lee of Inner City Press, Ignatov will also be subject to two years supervised release and $118,000 in forfeiture.

Ignatov (right) stepped up as OneCoin CEO following the disappearance of his sister and OneCoin founder Ruja Ignatova.

Ruja disappeared towards the end of of 2017. Konstantin began his OneCoin career in 2016 as “Head of Administration”. He stepped into the OneCoin CEO role shortly after Ruja disappeared.

Like current puppet CEO Ventsislav Zlatkov, Konstantin is believed to have been beholden to organized crime interests running OneCoin within Bulgaria.

Still, $118,000 in forfeiture seems a bit low. Cooperation aside, Konstantin still headed up a $4 billion Ponzi for over a year.

As Matt Lee asks, “Where is the rest of the money?”

All up Konstantin was detained for 34 months, most of which was spent in a New York apartment under limited home detention.

Sentencing filings aren’t up on Pacer yet but I believe a major contributing factor to Ignatov’s sentence was his ongoing cooperation with US authorities.

Some of that cooperation was problematic but whatever else he helped with must have been significant.

Ignatov’s original guilty plea in 2019 had a witness protection clause. I believe this applied to Konstantin, his girlfriend and their then newborn.

If that clause is still in play, despite Ignatov’s perjury in Mark Scott’s case, we probably won’t see or hear from Konstantin again.

Perhaps awkwardly, Konstantin’s parents Veska and Plamen are still tied up in OneCoin in Bulgaria.

Other than obviously profiting from the Ponzi scheme though, how much actual involvement they have is unclear.

I’ll keep an eye on Konstantin’s case docket. If there’s anything further to add from the sentencing filings I’ll leave an update below.


Update 8th March 2024 – Konstantin Ignatov appears to have been deported from the US earlier today.