The ongoing scandal involving OneCoin and the alleged Cryptoqueen’ Ruja Ignatova continues to intrigue many with a BBC Podcast also recently coming to light. More news has recently broken too that Konstantin Ignatov, the brother of “missing cryptoqueen” Ignatova, has admitted his role in the OneCoin crypto-currency fraud.
OneCoin was an alleged cryptocurrency Ponzi scheme that brought in as much as $4 billion across the globe. When the scheme was brought down by law enforcement, the founder, Ruja Ignatova, went missing in 2017.
Now, as her brother faces persecution, it has emerged that there is a link to former US President George Bush as his brother is alleged to have been paid $300,000 to attend a meeting with Ignatova.
According to Coinrivet, businessman Neil Bush met with the 38-year-old head of OneCoin in Hong Kong to outline a deal with a company he was connected with – Hoifu Energy – and Ignatova’s OneCoin.
These details came to light during the testimony of former attorney Mark Scott who is also under scrutiny for fraud and money laundering with his involvement in ongoing OneCoin trial in New York.
The nuts and bolts tying Bush to the OneCoin scam have been laid out in the testimony, and in fact, Scott’s lawyer argued for a subpoena for Bush in order to testify for his client. Bush was part of the board of Hoifu Energy.
Hoifu, it emerged, was looking to procure a lone deal of around $60 million, partly funded by OneCoin. This was to be confirmed at a meeting in Hong Kong, which Bush was in line to receive $300,000 for attending.
Excerpts from the transcript of an FBI interview with Neil Bush read: “Bush recalled that the head of Hoifu Energy, Dr Hui Chi Ming, received a bunch of cryptocurrency for an oil deal in Madagascar. Bush had a residual interest in the cryptocurrency from the oil deal. Bush met the woman from the cryptocurrency company, Ruja Ignatova, in Hong Kong with Dr Hui.”
The trial is set to continue next week, and even with this implication of the former US president’s brother, the real target still remains the missing crypto queen. OneCoin remains a massive stain on the cryptocurrency space, and bringing her to justice will help lessen the blow.