New Zealand authorities have seized a house and $462,000 in cash.

The assets are believed to belong to OneCoin fugitive Frank Schneider.

As reported by Stuff earlier today;

NZ Police worked in collaboration with international law enforcement partners to locate and seize the Aotearoa-based profits of Frank Schneider, a Luxembourg national.

From The Post;

Police believe the property in Wellington, along with $462,000, are the proceeds of the OneCoin pyramid scheme.

Between 2018 and 2020, the money was sent to someone Schneider knew in New Zealand to buy assets and property.

Police are making an application to the High Court for forfeiture of the assets.

The burning question is whether Schneider (right) has been apprehended. Unfortunately New Zealand’s authorities haven’t confirmed or denied Schneider’s arrest.

Speaking on the seizure, Detective Inspector Christiaan Barnard on stated;

There was no suggestion any of the suspects from the OneCoin scheme are in New Zealand.

That lends itself to Schneider still being on the run but isn’t definitive.

Schneider, former head of Luxembourg’s intelligence agency, worked as OneCoin founder Ruja Ignatova’s right-hand man. He is also believed to have overseen OneCoin’s global money laundering operations.

Through his contacts, Schneider is believed to have tipped Ignatova off to the US investigation into OneCoin. This led to Ignatova’s disappearance in late 2017.

Schneider was arrested in France back in 2021. After US authorities secured Schneider’s extradition, incompetence on behalf of French authorities saw Schneider flee.

Alongside Ignatova, Schneider remains a wanted fugitive.

Pending any further updates related to Schneider and New Zealand, we’ll keep you posted.