{"id":271022,"date":"2020-08-07T18:06:26","date_gmt":"2020-08-07T22:06:26","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=271022"},"modified":"2021-09-19T06:42:54","modified_gmt":"2021-09-19T10:42:54","slug":"onecoin-investors-settle-case-with-scam-companys-co-founder","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/onecoin-investors-settle-case-with-scam-companys-co-founder","title":{"rendered":"OneCoin Investors Settle Case with Scam Company\u2019s Co-Founder"},"content":{"rendered":"

The legal tussle between crypto scam operator OneCoin and several of its victims appears to have come to an end.\u00a0<\/span>Investors in the company have agreed to terms for a settlement agreement with Konstantin Ignatov, per <\/span>reports<\/span><\/a> from Finance Magnates.<\/span><\/p>\n

An Anticlimactic End<\/b><\/h2>\n

Ignatov was the brother of OneCoin\u2019s founder, Ruja Ignatova. He has been in custody for over a year and has been cooperating with law enforcement officers as they look to resolve the case and put things to bed.<\/span><\/p>\n

Citing court filings published on Thursday, Finance Magnates reported that plaintiffs had reached an agreement with Ignatov. Given that the filings didn\u2019t reveal any information concerning financial details, it appears that the investors had dropped their suit against him.<\/span><\/p>\n

The suit between investors and Ignatov has been a long one running. However, things hit a sticking point in April, when U.S. District Judge Valerie Caproni threatened to toss the suit after investors had missed multiple deadlines. At the time, Caproni had <\/span>scheduled<\/span><\/a> a hearing date for April 16, with the investors having missed the previous dates.\u00a0<\/span><\/p>\n

OneCoin investors chose criminal law firm Levi & Korinsky LLP and Silver Miller to represent them. In her filing, Judge Caproni explained that they now had to justify Ignatov’s involvement in the suit and why their case deserved to continue despite their unruly conduct.<\/span><\/p>\n

\u201cLead plaintiff is sternly warned that failing to comply with the court\u2019s orders going forward could result in sanctions. It is hereby ordered that Lead Plaintiff must show cause no later than April 16, 2020, why this case should not be dismissed with failure to prosecute.\u201d<\/span><\/p><\/blockquote>\n

The law firm eventually urged the court to continue the suit, claiming in its <\/span>filing<\/span><\/a> that it had invested a significant amount of effort and time in the action. The firm added:<\/span><\/p>\n

\u201cProvided that the Court allows Plaintiffs to proceed with this matter, Plaintiffs respectfully request that the stay currently in place in this Action be lifted and that the Court schedule a telephonic conference to discuss next steps.\u201d<\/span><\/p>\n

It’s unclear whether an inability to prove the case’s credibility caused this development.<\/span><\/p>\n

Keeping Up With OneCoin<\/b><\/h2>\n

Ignatov’s development is just the latest in a string of updates from OneCoin. The company has fallen apart since it was exposed as a $5 billion scam, and several top advisers have met unfavorable ends.<\/span><\/p>\n

Mark Scott, a lawyer who laundered up to $400 million for the company and its founder, is currently awaiting his sentencing. In April, Judge Edgardo Ramos of the New York Southern District Court <\/span>granted<\/span><\/a> the request to reschedule his sentencing, as several factors weighed on the court\u2019s ability to do so.<\/span><\/p>\n

Scott was found guilty of money laundering last November. He has tried to fight his verdict, claiming that there hasn\u2019t been any credible evidence against him. However, his arguments have fallen on deaf ears.<\/span><\/p>\n

The retribution for OneCoin has also gone beyond the usual top brass. Last month, Mexican news source La Tercera, <\/span>reported<\/span><\/a> that Oscar Brito Ibarra and Ignacio Ibarra, two of the company\u2019s promoters, had been found dead.\u00a0<\/span>Both men had promoted the asset as a payment method for one of their car companies. Per the report, law enforcement found their bodies stuffed into suitcases at a vacant lot. Examinations showed that the men died by suffocation.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The legal tussle between crypto scam operator OneCoin and several of its victims appears to have come to an end.\u00a0Investors in the company have agreed […]<\/a><\/div>","protected":false},"author":1770,"featured_media":257584,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[10615,8307],"class_list":["post-271022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-konstantin-ignatov","tag-onecoin"],"acf":[],"yoast_head":"\nOneCoin Investors Settle Case with Scam Company\u2019s Co-Founder - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"According to reports from Finance Magnates, some OneCoin investors have agreed to terms for a settlement agreement with Konstantin Ignatov.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OneCoin Investors Settle Case with Scam Company\u2019s Co-Founder\" \/>\n<meta property=\"og:description\" content=\"According to reports from Finance Magnates, some OneCoin investors have agreed to terms for a settlement agreement with Konstantin Ignatov.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-07T22:06:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-19T10:42:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/OneCoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jimmy Aki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adejimi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jimmy Aki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022\"},\"author\":{\"name\":\"Jimmy Aki\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/a66ff7827d8bed054aa6be4e9d8c1dad\"},\"headline\":\"OneCoin Investors Settle Case with Scam Company\u2019s Co-Founder\",\"datePublished\":\"2020-08-07T22:06:26+00:00\",\"dateModified\":\"2021-09-19T10:42:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022\"},\"wordCount\":563,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/OneCoin.jpg\",\"keywords\":[\"Konstantin Ignatov\",\"OneCoin\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/271022\",\"name\":\"OneCoin Investors Settle Case with Scam Company\u2019s Co-Founder - 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