Author Archives: jlevy

Victims of World’s Largest Pyramid Scheme Demand Answers

December 7, 2021                                                                             

For Immediate Release

New York:

A lawyer representing some of the estimated 3 million OneCoin pyramid victims worldwide is asking hard questions of the US Department of Justice which is prosecuting the OneCoin ringleaders in New York. The crypto pyramid OneCoin has taken in as much as $20 billion in cash and cryptocurrency. Yet after three years of court proceedings victims have seen no sign of the missing billions and there is currently no effort to seek restitution from those who have been unjustly enriched.

Dr. Jonathan Levy a lawyer who has been representing victims of cryptocurrency swindles has filed a memorandum under the Crime Victims’ Rights Act with the US Department of Justice.  He asserts that OneCoin victims have been locked out of the criminal proceedings and that their rights are being ignored. Information as to the missing billions provided by Levy to the Department of Justice is not being acted upon.

Dr. Levy in his memorandum sets forth that victims are entitled to restitution, protection from the violent OneCoin organization, and notice of court proceedings. Dr Levy points out: “The Southern District of New York has provided services to the victims of Bernard Madoff, Ghislaine Maxwell, and Jeffrey Epstein but the victims of the world’s largest cryptocurrency scandal are being ignored. There is not even an attempt to identify victims or secure their assets as required by law.”

According to the memorandum: Victims and witness have been threatened and assaulted by the OneCoin organization. Billions of dollars of assets remain in the hands of the OneCoin organization which continues operations from Bulgaria. OneCoin mastermind Karl Sebastian Greenwood has been laundering and moving millions of dollars from his jail cell. And the Department of Justice is not following the law and its own guidelines as to victim rights and services.

Dr. Levy is requesting the Department of Justice allocate the necessary resources to identify victims and provide mandated services. He also seeks to prevent further losses and concealment of OneCoin assets which include as much as 230,000 Bitcoins and billions in cash, real estate, and other property.

Breaking Update:

In March 2021, an increasingly desperate Karl Greenwood was able to execute a Power of Attorney to Danish gold and diamond dealer Ahmed Abdo Hajj Mohammed Aldubaili from his Manhattan jail cell using a hidden cell phone. Aldubaili is the owner of a gold, diamond and private vault firm in Denmark.

Now thanks to German journalist Martin Himmelheber we have learned that Aldubaili also maintains a residence in Sofia, Bulgaria, from where OneCoin is still operating.

The authorities would be wise to look into Aldubaili, they may find the OneCoin missing billions including 4 memory sticks continaing 230,000 Bitcoins obtained by Ruja Igantova.

Accused OneCoin Swindler Sebastian Greenwood Seemingly Outwits Regulators

November 24, 2021                                                                          

For Immediate Release

New York:

Accused Crypto Pyramid swindler Karl Sebastian Greenwood has been moving tens of millions of dollars and assets out of the reach of regulators and victims from his Manhattan jail cell using a contraband cell phone and network of lawyers and accomplices.

Karl Sebastian Green and Ruja Ignatova are the founders of the crypto pyramid OneCoin which some say may have taken in as much as $20 billion in cash and cryptocurrency.  Ignatova is a fugitive from justice and is well sustained with billions of dollars in cash and cryptocurrency.  Greenwood however was apprehended by the FBI and resides in the infamous Manhattan Metropolitan Correctional Center.  On September 21, 2021, Inner City Press revealed Greenwood had access to a contraband cell phone.  Now it appears he put the phone to good use, appearing in court proceedings half a world away and issuing orders to lawyers and notaries.

Greenwood has managed move at least $20 million dollars and perhaps more while regulators are asleep at the switch.  While the OneCoin case is perhaps the largest pyramid scheme in history, the SEC and other regulators world have as of yet not moved to confiscate the billions of dollars and perhaps as many as 230,000 Bitcoins that Ignatova and Greenwood stole from their victims. Greenwood has taken advantage of this pause to set up a network to move funds out of reach.

Both Ignatova and Greenwood have issued numerous Powers of Attorney in Dubai.  These documents grant the holder the rights to OneCoin accounts and real estate.  In July 2020. OneCoin bank accounts worth as much as several hundred million were unfrozen in Dubai.  Greenwood using his Dubai law firm and a Power of Attorney managed to appear in court via phone and through a check kiting scheme, has managed to execute judgment on at least $20 million.  A lawyer for Ruja Ignatova has shared in the bounty as well.  Of more concern is a March 2021 Power of Attorney issued to a Danish dealer in gold and diamonds executed remotely and notarized via cell phone.

Dr. Jonathan Levy, a lawyer for OneCoin victims is releasing the information in the hopes that regulators in the USA, Bulgaria and Dubai will be spurred to take action to secure victim funds.  According to Dr. Levy:  “I am shocked and dismayed there has been no attempt to confiscate OneCoin assets.  We know that vast amounts of cash, real estate, and cryptocurrency have been unlawfully obtained.  The brazen acts of Karl Sebastian Greenwood from his jail cell only confirm our worst fears that with every passing day, billions of dollars of assets are being placed beyond hope of recovery.”

A Petition has been filed with the Bulgarian Constitutional Ombudsman alleging the Bulgarian government has failed in its European Union mandated duties to victims of the up to €20 billion OneCoin pyramid scheme headquartered in Sofia.  OneCoin is thought to be one of the largest and most successful financial pyramids in history. Victims however have not received any restitution with the vast majority of funds still in the hands of the OneCoin organization.                                                        

The Petitioner, Dr. Jonathan Levy, a lawyer acting on behalf of investors and creditors of OneCoin seeks an investigation of misfeasance by the Bulgarian government because OneCoin and its principals continue to operate from Bulgaria.  The Bulgarian government has taken no steps to seize assets from OneCoin including real estate, bank accounts, and 230,000 Bitcoins worth over €12 billion. OneCoin has been declared a criminal enterprise by the United States and other governments and its mastermind, Ruja Ignatova, is a fugitive. Nonetheless, OneCoin was able to hold a recruiting event in July 2021 in Bulgaria.

OneCoin values its discredited cryptocurrency coin at over €40.  A price made feasible through the payment of 230,000 Bitcoins by an Emirati sheikh for OneCoin assets in 2015 and the subsequent rise of Bitcoin.  According to Dr. Jonathan Levy: “Ironically, OneCoin once billed itself as the “Bitcoin killer” but its chance acquisition of Bitcoins makes it possible for investors to recoup their losses, if only the Bulgaria would get serious and round up the criminals in their territory.”

The Petition states that OneCoin has links to violent organized crime and terrorism.  Victims have been threatened with violence for speaking out and OneCoin promoters have been kidnapped, murdered, and assaulted.

In addition to an investigation of Bulgarian government inaction, the Petition requests that a claims commission be established and the offer of a reward of up to €1 billion, to be paid from OneCoin assets recovered, for information leading to the arrest of Ruja Ignatova and recovery of the missing billions.

$14 Billion in Assets Still Under Control of Criminal Mastermind Ruja Ignatova

October 14, 2021                                                                               For Immediate Release

London:

Last week the Judge Ramos of the Southern District of New York dismissed the lawsuit, Christine Grablis vs. OneCoin, which was plagued by numerous jurisdictional issues.  Christine Grablis who invested $130,000 in the crypto pyramid scheme sued OneCoin and its kingpins Ruja Ignatova and Karl Sebastian Greenwood in a class action lawsuit. She now joins claimants in London and Brussels seeking a remedy for the largest crypto swindle in history.

The London lawsuit filed against the OneCoin organization by victims revealed the existence of $500 million in blocked Dubai bank accounts, Dubai realty and that “Cryptoqueen” Ruja Ignatova raked in 230,000 Bitcoins now worth over $13 billion paid to her by a member of an Emirati royal family in 2015. Ignatova’s brother who is now cooperating with US authorities has alleged Ignatova made off with yet another $500 million in cash.

In addition to the London lawsuit, investors have joined the pending EU Petition for implementation of a Crypto Asset Victim Super Fund to be financed by a .0001 or crypto transactions.

The lawyer for the investors and creditors in each case is Dr. Jonathan Levy who indicates he will now seek to convert the London lawsuit into a group action to include the New York claims and Ruja Ignatova. Dr. Levy points out that owing to the phenomenal rise in the price of Bitcoin since 2015, Ruja Ignatova dubbed the “Cryptoqueen” is in a position to pay investors back dollar for dollar: “In addition to about a billion in cash and real estate, Ignatova has the 230,000 Bitcoins provided to her by her partner Sheikh Al Qassimi in 2015.” Dr. Levy went on to chide authorities for neglecting investors: “The SEC, FCA, and EU have done nothing for investors. Thanks to some brave whistleblowers we now know about the Dubai connection and the Bitcoins.”  Dr. Levy has been especially critical of the EU Commission who he blames for enabling the OneCoin scheme to continue under the name OneLife in Bulgaria.

For a copy of the lawsuit: http://www.jlevy.co/wp-content/uploads/2021/05/OneCoinICOIO.pdf

Additional documents at: http://www.jlevy.co/2021/05/12/148/

Over $10 Billion in OneCoin Transactions Traced to Seychelles: Police Investigation Requested

May 12, 2021                                                                             

Seychelles:

The Seychelles Police Financial Crimes Unit has been asked to investigate multiple transaction involving the transfer of 230,000 Bitcoins, cash and property worth over $10 billion between Ruja Ignatova and confederates .  The transfer utilized Powers of Attorney notarized in the Seychelles and signed by OneCoin masterminds Ruja Ignatova and Karl Sebastian Greenwood. 

The request for an investigation is the result of claims filed in London, Dublin, and Brussels against the OneCoin organization by victims after up to $500 million of OneCoin loot was recently discovered in Dubai bank accounts. It was also revealed that “Cryptoqueen” Ruja Ignatova sold some of her vast assets in 2016 for 230,000 Bitcoins now worth over $10 billion paid to her by a member of an Emirati royal family.  In exchange for the Bitcoin hoard His Excellency Sheikh Saoud bin Faisal Al Qassimi received a Power of Attorney granting him control of the OneCoin portfolio of bank accounts, companies, and real estate purchased from Emirati property developers Emaar, Nakheel, Union, Deyaar, and  Properties Investment LLC.

The One Coin organization funneled billions to banks and real estate in Dubai where they were aided by Sheikh Saoud bin Faisal Al Qassimi and real estate agent Mimoun Madani.  Madani and Sheikh Al Qassimi obtained the dubious Seychelles Powers of Attorney from Ignatova, Greenwood, and their associates.  The Powers of Attorneys were then submitted to various officials and courts in Dubai as proof of ownership of assets. It is unknown if Madani and Al Qassimi are working on their own behalf or for the wanted fugitive Ignatova.

The Largest Bitcoin Transaction Ever Recorded is Linked to Seychelles

In 2016 Sheikh Al Qassimi in a well-documented and witnessed transaction handed over to Ignatova, four hard wallets (USB devices) containing 230,000 Bitcoins then worth about $50 million in exchange for a Seychelles notarized Power of Attorney for frozen One Coin bank accounts, other assets and real estate in the UAE worth perhaps $1 billion. The 230,000 Bitcoins are now worth a staggering $10 billion. 

The lawyer lodging the criminal complaint, Dr. Jonathan Levy, has offered to assist the Seychelles Police Financial Crime Unit in an investigation of Mimoun Madani and Sheikh Al Qassimi:  “Madani and Sheikh Al Qassimi have never been seriously questioned by law enforcement; Al Qassimi has details about 230,000 Bitcoin in possession of the criminal mastermind Ignatova and Madani claims to be working for Ignatova and Greenwood.”  Dr. Levy also suggests that it is in Seychelles best interest to quickly open an investigation: “The misuse of the Seychelles jurisdiction and involvement of public officials to commit the crypto crime of the Century calls into question the use of the Seychelles by other crypto ventures including the world’s largest cryptocurrency exchange Binance which makes extensive use of the Seychelles as a corporate headquarters. If Seychelles lacks the ability to regulate crypto asset transactions worth billions then there are serious anti money laundering issues raised about cryptocurrency companies that choose to base their operations there.”

Chagos Islanders Seek Control of Popular .IO Domain

Dublin:

British Indian Ocean Territory is best known for the secretive US naval base on Diego Garcia Island and the top level domain .IO which is popular with crypto asset platforms, cryptocurrency casinos and technology companies including top ten cryptocurrency USD Coin and cryptocurrency exchange Gate.io.

A consumer group and a human rights group joined forces today to file a complaint with the Organization for Economic Cooperation and Development (OECD) detailing consumer and human rights harms committed by Afilias Ltd, the manager of popular cryptocurrency and tech domain .IO. The filing marks the first time OECD jurisdiction has been invoked in a digital dispute involving cryptocurrency.

The United Nations General Assembly, African Union, and International Court of Justice have all found that Britain’s forcible deportation of the Chagos Islanders a generation ago and continued occupation of the Chagos Archipelago (British Indian Ocean Territory) is a serious violation of international law. The Chagos Islanders are banned from the island chain by apartheid like laws and do not participate in the island chain’s booming Internet and defense oriented economy.

The British however have refused to vacate the Chagos Archipelago and according to the Complaint that stubbornness is not due solely to presence of the US naval base but because billions of dollars in illicit online financial transactions are at stake involving cryptocurrency.

In 1997 a secret agreement with ICANN resulted in the creation of the top level domain country code .IO (ccTLD .IO).  .IO was a relatively low key alternative domain until about 2016 when its popularity exploded in connection with the rise of cryptocurrency.  In 2017, the company administering .IO was sold for $70 million to Irish internet giant Afilias Ltd. which was which was recently acquired by Donuts Inc., the world’s largest domain name registry.  Fraud complaints involving .IO have been rising steadily each year with 671 reported to UK’s Action Fraud system in 2020.

The Chagos Islanders are now seeking restitution and return of .IO which has made the Chagos Archipelago one of the world’s least known but largest offshore financial centers by daily volume.  The  Chagos Islanders want due royalties and payments for use of .IO which is also marketed as “Chagosian Domains” by Afilias.  The islanders are joined by the Crypto Currency Resolution Trust which represents victims with losses and claims against .IO crypto criminals for more than €100 million.

According to Dr. Jonathan Levy, the international lawyer representing the Chagos islanders, while .IO is utilized by legitimate companies, it is also remarkable for crypto asset based criminal operations: Ponzi schemes, money laundering fronts, cryptocurrency gambling and fraudulent Initial Coin and Token offerings: “Afilias as an Irish company acquired .IO knowing full well its sordid past, connection to human rights abuses, and ongoing criminality. They should make restitution and divest before their liability increases.” Dr. Levy notes that Ireland voted along with 115 other UN members in 2019 condemning the continued occupation of the Chagos Archipelago by the United Kingdom.

It is estimated tens of billions of dollars a day in unregulated crypto asset transactions take place in .IO involving hacking, tax evasion, money laundering, fraudulent investment schemes, gambling, and organized crime.  Since British Indian Ocean Territory lacks a Financial Crimes Unit and relevant laws; criminals using cloaked identities, cryptocurrency, and .IO websites are rarely if ever apprehended or prosecuted.

Bitcoin Market Manipulation

File on Cryptoqueen’ s 230,000 Bitcoins Released

May 19, 2021 For Immediate Release

London:

Dr. Jonathan Levy in the lawsuit CCRT v. OneCoin has alleged that “Cryptoqueen” Ruja Ignatova controls 230,000 Bitcoins obtained from Sheikh Saoud bin Faisal Al Qassimi in a 2015 swap for frozen Dubai assets worth up to $1 billion.

The current Bitcoin price slide and sell off coincides with the May 12^th revelation of the lawsuit and the potential existence of the 230,000 Bitcoins in the hands of one of the world’s most wanted fugitives, Ruja Ignatova who swindled billions in a cryptocurrency Ponzi scheme.  Her OneCoin rivaled Bitcoin in 2015-2016.

There is strong circumstantial evidence that Ignatova could be methodically unwinding her Bitcoin position at peak prices by using techniques known as CoinJoins and Bitmixing that render the transactions supposedly untraceable.  And today it was announced a default judgment for $4 billion was obtained against her in a separate New York class action lawsuit adding some potential impetus.

Dr. Levy is calling for a suspension in Bitcoin trading until the Al Qassimi file has been evaluated by competent authorities.  The file contains the documents by Al Qassimi’s counsel submitted to a Dubai court where Al Qassimi is seeking hundreds of millions of dollars in previously frozen OneCoin funds.  Al Qassimi claims that he own the assets because of the 2015 transaction involving the 230,000 Bitcoins.

The Dubai authorities in a seemingly incomprehensible decision made in June 2020 cleared the Cryptoqueen of any wrongdoing despite overwhelming evidence of criminal activity and money laundering.

If the allegations are found true, yet again Bitcoin and cryptocurrency have been the means to commit sensational crimes.  With the United States still feeling the effect of the Colonial Pipeline ransomware attack, which was paid off in cryptocurrency, a trading halt may be the only way to address rampant criminality in the crypto asset markets.  Unlike cash, criminals can easily conceal and hide millions of dollars of the invisible crypto assets as well as transfer them from wallet to wallet and across national borders unhindered by any regulators or gatekeepers.

A copy of the lawsuit and all documents referenced herein may be downloaded at:

For More Information:

Dr. Jonathan Levy

info@jlevy.co

Billionaire Crypto Criminal Ruja Ignatova Under Protection of State Sponsor of Terrorism

May 17, 2021 For Immediate Release

London: A previously unreleased document made available to Plaintiff’s counsel Dr. Jonathan Levy in the lawsuit CCRT v. OneCoin shows that “Cryptoqueen” Ruja Ignatova may be under the protection of a powerful state sponsor of terror in the Middle East.

The document authored by the Kuwaiti Ministry of Interior was delivered to the Dubai Chief of Police by special courier in 2015.  The document warned that Ruja Ignatova’s OneCoin was a front for terrorism financing.  The report authored by Assistant Undersecretary for Criminal Security Affairs Major General Abdul Hamid Abdul Rahim Al-Awadi stated:

Ruja Ignatova entered the United Arab Emirates using a diplomatic passport through Dubai International Airport by a private plane and in possession of a large sum of money.

She purchased a license for a bank license in the UAE for US $16 million

Ignatova used accounts at Mashreq Bank to launder money for terrorist groups and made several bank transfers to Afghanistan, Pakistan, and Yemen, which included terrorist organizations.

Kuwaiti Intelligence believed Ignatova was working for an unnamed state sponsor of terrorism.

The lawsuit alleges that Ignatova received diplomatic credential from Sheikh Saoud bin Faisal Al Qassimi and purchased a bank license from him.   Other document’s in plaintiff’s possession indicate Sovereign Group’s Nicholas Cully and Ignatova’s German lawyer helped Ignatova and sidekick Sebastian Greenwood open bank accounts in Dubai.  Mashreq Bank soon became suspicious and reported the matter to the Dubai Central Bank which ordered a partial banking freeze on the individuals and accounts involved.

Ignatova then sold or pledged her Dubai holding worth about $1 billion to the Sheikh Saoud bin Faisal Al Qassimi  for 230,000 BTC worth $50 million then and now over $10 billion.

Despite issuing summonses for Ignatova, Greenwood, and the others, the Dubai police and prosecutor made no arrests and quietly closed the case in June 2020 even though Greenwood was in jail in New York for money laundering and Ignatova one of the world’s most wanted fugitives.

According to the lawyer for the plaintiffs, Dr. Jonathan Levy: “This is an outrage. Dubai had all the information necessary to arrest Ignatova in 2015.  Yet the arrest was never attempted and the case quietly closed in June 2020 with the bizarre recommendation that the criminals were entitled to the funds they stole from victims as no crime was committed.” Dr. Levy also warned: “$10 billion in crypto currency may already be in the hands of terrorists in exchange for protection provided to Ignatova who faces decades in prison if brought to justice in the United States. The OneCoin funds exchanged for Bitcoin illustrate the most dangerous aspects of the unregulated cryptocurrency market.”

As to the Cryptoqueen’s whereabouts Dr. Levy explains: “She is under possible protection of a state sponsor of terror and also has been found not to have committed any crime in Dubai despite volumes of evidence of money laundering. Ignatova is almost certainly in the UAE possibly in one of the emirates controlled by the Al Qassimi royal family. UAE has no extradition treaty with the United States and she is no doubt well protected.”

A copy of the lawsuit and documents referenced herein may be downloaded at:

For More Information:

Dr. Jonathan Levy

info@jlevy.co

Tel  +44 (0) 20 8144 2479

ONECOIN & BITCOIN: TWO SIDES OF THE SAME COIN

LAWSUIT REVEALS CRYPTOQUEEN RUJA IGNATOVA CONTROLS BITCOINS WORTH OVER $13 BILLION

May 12, 2021                                                                             

London:

A lawsuit filed against the OneCoin organization by victims contains new information about $500 million still in Dubai bank accounts and reveals Cryptoqueen Ruja Ignatova made off with 230,000 Bitcoins now worth over $13 billion paid to her by a member of an Emirati royal family in 2015.

The lawsuit is based on new information from Dubai where One Coin had a large presence confirms the presence of $500 million in cash and other assets worth as much as $1 billion being fought over in several court cases by representatives of Ruja Ignatova, her second in command Sebastian Greenwood, an Emirati sheikh, and other One Coin associates.

The One Coin organization funneled billions to banks and real estate in Dubai where they were aided by His Excellency Sheikh Saoud bin Faisal Al Qassimi and a former real estate agent Mimoun Madani.  Al Qassimi is the son of one of the wealthiest men in the UAE, United Arab Bank CEO H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, pictured below with Ignatova.  The Al Qassimi family holdings includes a vast array of enterprises thought out the UAE and Middle East.

Ruja Ignatova and CEO United Arab Bank circa 2015

The younger Al Qassimi was an early associate of Ignatova and provided her diplomatic credentials to facilitate her travel to and residence in the UAE.  Al Qassimi and Greenwood also made a “gift” of over $1 million to a Dubai bank official to facilitate the opening of accounts for the OneCoin enterprise.  However, in 2015, the accounts containing over $500 million were frozen when Ignatova and Greenwood came under suspicion for money laundering.

The Largest Bitcoin Transaction Ever Recorded

In 2015 the younger Sheikh Al Qassimi in a well-documented and witnessed transaction handed over to embattled Ignatova, four hard wallets (USB devices) containing 230,000 Bitcoins then worth about $50 million in exchange for the now frozen One Coin bank accounts, other assets and real estate in the UAE worth perhaps $1 billion. The peer to peer transaction was anonymous and as the price of Bitcoin rose to dizzying heights, Ignatova was supplied with a virtually endless supply of cash. She dropped out of site by the end of 2017. The 230,000 Bitcoins are now worth a staggering $13 billion.  The Cryptoqueen has become the largest beneficiary of the Bitcoin price run up and crowned most successful criminal in history. With billions in cryptocurrency, she has easily eluded an international manhunt thanks to Bitcoin’s anonymity.

The plaintiff’s attorney, Dr. Jonathan Levy, explains that regulators and law enforcement have dropped the ball not just on OneCoin but dozens of lesser crypto scams: “Regulators seems oblivious to the fact the cryptocurrency’s main purpose is to facilitate and reward criminals like Ruja Ignatova.  It is no coincidence that Ignatova is the main beneficiary of the Bitcoin bubble.” Dr. Levy has been advocating for a victim superfund to be established by the EU based on a .0001 per Euro tariff on cryptocurrency transactions. “The winners are clearly the bad guys: organized crime, money launderers, and market manipulators while the small-timers are continually defrauded, hacked and abused.  Crypto cannot be insured and if we cannot ban it altogether; a victim superfund is an urgent necessity.”

Dr. Levy has begun to release additional documents related to the lawsuit and will continue to do so as the case moves forward.  The case against One Coin is one of several he has filed in the British Indian Ocean Territory Supreme Court based on the repeated use of the top level domain .IO (Indian Ocean) by crypto criminals with no real presence other than websites.

For more information:

info@jlevy.co
Tel  +44 (0) 20 8144 2479
Fax +1 202 478 1970