Frank Schneider, a key figure in OneCoin’s money laundering operations, has been arrested in France.

Schneider is also believed to have tipped off Ruja Ignatova about the FBI investigation, leading to her disappearance.

Schneider (right) was wanted by authorities in the US for his role in OneCoin, a $4 billion dollar Ponzi scheme.

In addition to tipping Ignatova off, Schneider also handled OneCoin’s dirty work.

Through his company Sandstone S.A., Schneider engaged the UK PR firm Chelgate.

Chelgate, working with the law firm Carter Ruck, lobbied UK authorities on OneCoin’s behalf.

This resulted in the Financial Conduct Authority, the UK’s top financial regulator, retracting a securities fraud warning issued against OneCoin.

In retrospect, the FCA retraction was one of the worst examples of European regulatory negligence regarding OneCoin.

Schneider, a connected former member of Luxembourg’s secret service, had up until now evaded capture.

As reported by Republicain Lorrain, Schneider was picked up by authorities on an international arrest warrant in Joudreville.

He was arrested this Thursday, in a spectacular fashion, as he was preparing to cross the Luxembourg border.

Joudreville is about a thirty minute drive from the Luxembourg border.

Following his arrest, Schneider was taken into custody and transported to the regional capital Nancy. There he is being held in anticipation of an extradition request from US authorities.

As of yet we’ve had no word from the US side. Pending extradition of Schneider, hopefully we’ll get access to an unsealed indictment with full details.

If anyone knows what happened to Ruja Ignatova since her 2017 disappearance, it’s Frank Schneider.


Update 22nd July 2021 – Frank Schneider has filed an appeal against extradition.

The Nancy Court of Appeals has delayed a decision on Schneider’s extradition till September.


Update 20th November 2021 – Frank Schneider’s extradition to the US will now be decided on January 19th.

In the meantime French authorities have released Schneider to monitored home detention.


Update 9th June 2023 – Following the French government granting his extradition in early April, Schneider fled monitored detention in mid to late May.

French authorities claim they don’t know where he is, making Schneider a wanted fugitive.