Hearing transcript confirms OneCoin’s ties to European organized crime
Rumors of OneCoin’s ties to organized crime have persisted ever since authorities around the world began cracking down on the scheme.
No alternative explanation has surfaced as to why to date Bulgarian authorities have failed to shut OneCoin down. Or how the company’s executives and top promoters were able to travel the world with impunity.
Turns out where there’s smoke there’s fire.
As part of Konstantin Ignatov’s Californian detention hearing back in March, the DOJ revealed their investigation uncovered ties between OneCoin and European organized crime.
Following a rejected assertion by Ignatov’s attorney that the DOJ was not entitled to a detention hearing, the DOJ proceeded with its opening argument.
Addressing “the danger” Ignatov posed to the community if released, the DOJ’s attorney revealed;
According to our investigation, we do believe that the defendant is directly associated with significant players in Eastern European organized crime.
The head of security at OneCoin is a large-scale international drug trafficker, and it’s actually that same head of security that was involved in the disappearance of the defendant’s sister when she absconded from the filed charges in her case and we know he knows and talks to the head of security because his — that phone number was recovered from the phone of defendant.
On the surface it seems that having been able to continue to operate the OneCoin Ponzi scheme across Europe without consequence, OneCoin’s head of security believed the US also wouldn’t take action.
It bears noting that the Government’s investigation has revealed a pattern of regular corrupt payments to government officials around the world in order to facilitate the OneCoin fraud scheme.
That miscalculation lead to Konstantin Ignatov’s arrest and unsealing of a criminal case against Ruja Ignatova (right).
The DOJ don’t mention OneCoin’s head of security by name, but that he’s a drug trafficker doesn’t come as a surprise.
OneCoin has had ties to the drug trade dating back to 2016, when one of their merchants was arrested in the UK on charges of laundering funds tied to a £24 million drug ring.
The DOJ also revealed in a filing yesterday that Konstantin Ignatov himself is a former user of alcohol, cocaine, methamphetamine and “other drugs”.
Ignatov ultimately lost his bid for release in California.
The Court — based on the arguments of counsel, does find that the defendant at this time is both by clear-and-convincing evidence an economic danger to the community and by preponderance that no condition or combination of conditions would adequately assure his attendance at further proceedings either here or in … New York.
The Californian Judge hearing the case additionally told Ignatov’s attorney she had “a very uphill battle”.
This also arises out of another district that has a whole lot more information.
That district is the Southern District of New York, wherein later today Ignatov will once again square off against the DOJ in a bid for release.
Update 29th June 2019 – Konstantin Ignatov has been denied pre-trial release.
This is why I have been hoping that a plea deal would not be reached and this case would go to trial. I want all the dirty linen on full display for all to see.
While the hard core believers, who are nothing more than conspiracy theorists, will never accept anything that comes out in trial as the truth, the rank and file members of OC will finally realize just what they got themselves into and are going to be really angry.
You can bet the major promoters will be in hiding fearing retaliation against them for conning people into OC.
I say bring the trial on and the sooner the better.
The footnote 6 on page 8 indicates that this is the modus operandi of OneCoin more generally:
This person could be Hristoforos “Taki” Amanatidis (aka “The Cocaine King”). His connection to the Ignatov crime family has been reported before:
All in all, I think Duncan Arthur’s recent speculation about pending RICO charge against OneCoin is not that far fetched.
Out of the office just now. Soon as I get back home I’ll fix the name error.
Also dunno how I missed that footnote. It spells it out. Thanks.
OK done. Phew, what a long day.
Hopefully tomorrow they just give as a straightforward order!
Just noticed this from page 9 of the document:
So it was not only Ruja who got the forewarning about the coming law enforcement action (from corrupt Bulgarian officials?).
I wonder who else got the info? By the end of 2017, within a couple of months after Ruja became a fugitive, many of the then top OneCoin leaders left the scam — most notably Kari Wahlroos and Sebastian Greenwood, who were also the closest to Ruja.
btw, on p. 8:
Konstantin is on public record claiming to be in communication with Ruja. For example, on a stage, he claimed to have met with Ruja in person somewhere around Bangok meeting (December 2017), therefore over a month after Ruja fled to her robber’s cave:
It seems that there is some police action against OneCoin fraud in Thailand.
In the video around -0.42 timemark you can see DealShaker logo.
I can’t understand Thai, so don’t know what’s exactly going on.
Konstantin Ignatov was denied bail today:
Some of onecoin leaders in Thailand corporate with the one from Vietnam to conduct their own ponzi knowing how desperate to cash out of onecoin’s investers.
They offer gold and car for 25% cash and the rest in onecoin (payment in advance). However, buyers must wait around 1-2 months before they receive what they want. (they just use money from late buyers and give it to early buyers)
I have confirmation of Ignatov’s release denial on the case docket. Standby.
Not surprised at all!
As far i know, costumers where asked to submit passport etc. to OneCoin for the KYC (know your client). People who submitted documents to OneCoin should cancel them, they may be abused (ID fraud).
It is very likely that there are investigations running in multiple country’s in the EU. We have no evidence, because the police is not talking to the press regarding this and court documents (e.g. in Germany and Italy) are generally not published. So we have to wait months or years to see the outcome.
Are there any open cases regarding the Steinkellers, Deppisch, et al. (the “old” Leaders) in the U.S.?
None that I’m aware of. They’ve just gone after management for now.
Maybe you are interested that the serial fraudster Udo Carsten Deppisch has taken his cheating portal ucd.money off the net.
Now he is advertising for wantageone.com allegedly based in Stockholm (Sweden). The next scam?
UCD is at the moment in Kenia on Safari and probably prospecting some future vicitms at the same time, since he is on a Wantage tour in Kenia.
He’s promoting this on his FB pages as well: facebook.com/likquid1 could be the same thing as the Wantage deal.
From Sweden Stockholm as was mentioned above. Does it dawn that this scam also has One in the name, talking creativity ! Or they use Coin or One, needed to go fast I guess.
It comes from the Wellmont Capita Group where one name sounds familiar Kenny Nordlund. He was inside SiteTalk hmmmmm and of course Onecoin, although they didn’t mention that in his curriculum on their website with a purpose for sure.
Wantage One == Wellmont Capital == likquid == Spark Group.
Gotta love Udo’s motto on his Facebook page: “Don’t let yesterday take up too much of today.”
That is, “Please don’t dig into my past ventures.”
Supplement to comment #12
In addition, this lousy scammer Udo Carsten Deppisch in Russia is still called as a sponsor for the OneCoin scam:
From what I heard was that the scam UCD set-up out of Dubai called Crowdbridge Global was taken over into the Wellmont Capital, I believe just to make it look credible.
Have you ever seen a private asset management company that acquires a pump and dump scam if they aren’t suspicious themselves, for sure running it as an mlm opportunity.
Make me think back on the days the High Yield programs were scamming investors out of hundreds of millions in matter of months.