Daily fraud update: 15th November

Chris Lee

Brother of “Cryptoqueen” owns up

A man who was allegedly involved in the setting up of the supposed OneCoin scam has admitted responsibility.

Konstantin Ignatov, who is the sibling of missing Ruja Ignatova, pleaded guilty on a wide range of charges pertaining to the alleged scam.

These are understood to have included fraud and money laundering, the BBC is reporting.

The scheme, which many now consider to be a Ponzi scheme rather than a legitimate investment avenue, is being blamed for the disappearance of sums of money of at least $4bn.

Ignatov was taken into custody earlier in the year when he was apprehended at Los Angeles International Airport.

It has since been revealed that he agreed to a plea document last month – although this was only revealed this week.

As a result of this, he will be free from any more criminal allegations except any pertaining specifically to tax law violations.

The document appeared to suggest that Ignatov and his family could face physical threats in the event that he plays along.

It could “reveal activities of individuals who might use violence”, it said.

The BBC has been at the forefront of the saga around Ignatov and his sister.

The corporation published a podcast on BBC Sounds in which it looked into the mystery around the whereabouts of Ignatova.

Ignatov has claimed that his sister was living in Bulgaria’s capital, Sofia, around the time of her disappearance.

According to Ignatov, she went on to ask him to procure plane tickets to other cities, including Vienna and Athens.

The company which owns OneCoin, based in the eastern European country of Bulgaria, says that it is a legitimate entity and that it has done nothing wrong.

It remains unclear where she is at the moment.

Famous Forex-3D associates asked to appear before prosecutors

Two famous Thai entertainment figures have been told they have to appear before an investigator to clarify the nature of their relationships with the founders of the company.

Suteewan “Baitoey” Thaveesin and her spouse, Pattanapon “DJ Man” Kunjara Na Ayudhya, were told by investigators in the country that they will need to appear as state witnesses.

The investigation into the pair is focusing on the relationship between them and Apiruk Kothi, who set up the firm Forex-3D.

It is part of a wide ranging investigation into the nature of the relationship between Kothi and a handful of celebrities.

According to a source, this particular pair could face questions into whether or not they have broken tax laws.

“If the two fail to clarify, officers may further investigate them for potential violations of the tax and anti-money laundering laws”, the source is quoted as saying by Thai media.

It is understood that the total amount which Forex-3D is accused of having scammed people out of is over a billion Thai baht.


Chris Lee

Latest news

Forex vs Crypto: What’s Better For Beginner Traders?
The crypto and forex markets are two of the world’s most popular among investors and traders. Read more
Three Great Technical Analysis Tools for Forex Trading
You don’t have to be very technical minded to make use of technical analysis in your forex trading. Read more

Safest Forex Brokers 2024

Broker Info Best In Customer Satisfaction Score
#1 73% of retail CFD accounts lose money. Founded: 2014 Global Forex & CFD Broker
Number One Broker
Best Trading Conditions Visit broker
4.9
#2 Blackbull LogoYour capital is at risk Founded: 2014 Global Forex Broker
Number One Broker
BEST SPREADS Visit broker
4.8
#3 AvaTrade LogoYour capital is at risk Founded: 2006 Globally regulated broker
Number One Broker
BEST CUSTOMER SUPPORT Visit broker
4.9
#4 plus500 logo81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Founded: 2008 Global CFD Provider
Number One Broker
Best Trading App Visit broker
5
#5 Between 74-89 % of retail investor accounts lose money when trading CFDs Founded: 2010 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker
4.9
#6 Forex Broker eToro Logo76% of CFD traders lose money Founded: 2007 Global CFD & FX Broker
Number One Broker
ALL-INCLUSIVE TRADING PLATFORM Visit broker
4.9
#7 XM LogoYour capital is at risk Founded: 2009, 2015 and 2017 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker
5
#8 FxPro LogoYour capital is at risk Founded: 2006 CFD and Cryptocurrency Broker
Number One Broker
CFD and Cryptocurrency Visit broker

    Forex Fraud Certified Brokers

    AvaTrade logo
    FXTM Logo
    XM Logo
    BlackBull Logo Small
    plus500 logo
    FxPro logo
    eToro Logo
    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.