The CEO of this OneCoin cryptocurrency scam, Konstantin Ignatov, might have to undergo trial while still.
The New York Southern District Court’s Judge Edgardo Ramos denied a bond application filed by Ignatov despite the leading leader of this scam having proposed attractive release conditions, as first ported by Finance Feeds. Ignatov is accused of a conspiracy to commit wire fraud.
OneCoin head $20 million personal recognizance bond diminished
Among the launch states that the defense team of Ignatov had proposed contained a $20 million personal recognizance bond. Ignatov had also agreed to put on GPS tags as well as foot the bill to employ armed guards who would guarantee he does not flee.
Accessibility to his house would also be allowed to people with permission.
Judge Edgardo Ramos didn’t collapse for Konstantin Ignatov petition to escape prison.
In opposing his bond application the U.S. government insisted that Ignatov was a flight risk and the proposed release conditions were not a guarantee he would not flee.
The cryptocurrency scam remains operating
Additionally, the U.S. government argued that releasing Ignatov on bail would not dissuade him from causing further harm. This argument was based on the simple fact that the OneCoin plot is still functional. At the time of the arrest in March in California, Ignatov was scheduled to attend OneCoin events at the U.S.
The OneCoin leader has been likewise accused of lying’to police officers’ and therefore’establishing that he cannot be trusted to abide by any conditions of release’. Some of these government officials included U.S. Customs and Border Patrol officers and Pretrial Services Officers:
He just cannot be trusted to comply with any conditions determined by the Court, having already lied to U.S. border agents, exploring case brokers, and also the exact Pretrial Services Officers tasked with evaluating appropriate bail in this case.
U.S. authorities also noticed that the OneCoin founder and Ignatov’s sister, Ruja Ignatova had vanished after charges were filed against her.
Are these countries that are the OneCoin boss could flee to?
In the hearing, it was noted that Ignatov has ties to countries which haven’t signed extradition treaties with the United States. This was likely a reference to countries where the OneCoin plot has surgeries and at which if Ignatov were to flee he would not be in danger of being apprehended and flown back into the U.S.
As Samoa, this could include countries in this aspect where OneCoin had a substantial presence and used church podiums to market the ponzi scheme. The cryptocurrency scam also penetrated Uganda and Ignatov recorded his travels.
Others include states bordering his native Bulgaria and which lack extradition treaties with all the U.S.. In this regard Macedonia and Serbia instantly come to mind.