OneCoin leader Konstantin Ignatov secures extra time to answer to victims’ complaint

Maria Nikolova

Court allows Ignatov to file his answer to the plaintiffs’ complaint by August 6, 2020.

Konstantin Ignatov, one of the leaders of fraudulent cryptocurrency scheme OneCoin, has secured extra time to prepare his answer to the victims’ complaint.

According to an order signed by Judge Valerie E. Caproni of the New York Southern District Court on July 14, 2020, Ignatov’s answer is due August 6, 2020.

This is Ignatov’s second request for an extension of time. It is set to permit him and the plaintiffs to continue their progressing settlement negotiations, which in turn may obviate the need for Ignatov’s responsive pleadings.

The plaintiffs in this case represent all individuals and entities who transferred to the OneCoin defendants, directly or indirectly, any fiat currency or cryptocurrency to invest in OneCoin Trader Packages or OneCoins from April 2014 through to and including March 2018 and who suffered financial injury as a result thereof.

Lead Plaintiff Donald Berdeaux and plaintiff Christine Grablis allege in the First Amended Class Action Complaint claims under the federal securities laws and common law against key operators of OneCoin Ltd. and certain of their enabling co-conspirators arising from a massive fraud perpetrated on millions of individual investors throughout the world causing injuries in excess of $4 billion through a densely-packed multi-level-marketing system.

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