Victims of OneCoin push once again for alternative service on Ruja Ignatova

Maria Nikolova

Four defendants in a lawsuit targeting a number of individuals associated with fraudulent cryptocurrency scheme OneCoin remain unserved.

About a month after the New York Southern District Court denied a motion by the victims of fraudulent cryptocurrency scheme OneCoin for alternative service to a number of defendants in the case, the plaintiffs have now renewed their motion. This becomes clear from a Letter filed with the Court on December 2, 2019, and seen by FinanceFeeds.

Let’s recall that 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.

On August 23, 2019, in response to defendant Mark S. Scott’s letter motion to stay the instant Action during the pendency of the criminal trial against Scott, the Court issued an Order staying all proceedings in this Action until the plaintiffs accomplished service upon the remaining defendants. Scott’s criminal trial has since concluded and, on November 21, 2019, a Manhattan federal jury found Scott guilty on Count One: Conspiracy to Commit Money Laundering and Count Two: Conspiracy to Commit Bank Fraud.

Additionally, during Scott’s criminal trial it was revealed that Konstantin Ignatov – the brother of “crypto queen” Ruja Ignatova and one of the leaders of OneCoin, has pleaded guilty to the criminal charges issued against him.

In the Letter filed with the Court on December 2, 2019, Lead Plaintiff Donald Berdeaux and Plaintiff Christine Grablis confirm that four defendants remain unserved: (1) OneCoin Ltd ; (2) Ruja Ignatova; (3) Sebastian Greenwood; and (4) Irina Andreeva Dilinska.

On November 1, 2019, the Court denied Plaintiffs’ First Motion for Alternative Service without prejudice and suggested that the plaintiffs address the concerns it raised in a renewed application.

On December 2, 2019, the plaintiffs said they were filing a renewed motion for Leave to Effect Alternative Service on the Unserved Defendants. The plaintiffs believe that the Renewed Motion addresses and cures the deficiencies in their first motion.

In their original motion, the plaintiffs proposed service on defendant OneCoin via both Federal Express to OneCoin’s Dubai office, email to [email protected] and [email protected], and through social media.

The plaintiffs said back they had been unable to locate any addresses where service could ultimately be effectuated on defendants Ignatova, Greenwood, or Dilinska by traditional means under Rule 4(f)(1) and (2). Each of these individual defendants are, or until recently were, high-level executives employed by defendant OneCoin and are believed to be located in Europe; however, their exact whereabouts remain unknown. Accordingly, so as not to delay the prosecution of the Action, the plaintiffs proposed service on defendants Ignatova, Greenwood and Dilinska via Federal Express to OneCoin’s Dubai office and email to each of their last known email addresses.

Read this next

Digital Assets

Gemini Earn users to recover $2.18 billion in crypto payouts

Cryptocurrency exchange Gemini has agreed to pay $50 million worth of digital assets to investors in its Gemini Earn program as part of a settlement with the New York Attorney General (NYAG), announced on Friday.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: British Pound (GBP) Weakness, US Inflation, Euro, USD June 14 ,2024

British Pound weakens due to lower inflation expectations, potential policy changes from Reform Party, and broader economic concerns.

blockdag

Q2 2024’s Top 5 Cryptos to Buy: BlockDAG, Pepe, Toncoin, Solana and Render

Learn about 2024’s Q2 top 5 cryptos. Explore potential high-return and advancements of altcoins like BlockDAG, Pepe, Toncoin, Solana, and Render.

Fundamental Analysis, Tech and Fundamental, Technical Analysis

GBPCAD Technical Analysis Report 14 June, 2024

GBPCAD currency pair can be expected to fall further toward the next support level 1.7250, former strong resistance from last year.

Digital Assets

Binance acquitted of tax evasion in Nigeria, now faces AML charges

Nigeria has dropped tax evasion charges against two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, after the world’s largest cryptocurrency exchange appointed a local representative to handle court processes related to the allegations.

Digital Assets

Trezor launches new hardware wallet ‘Safe 5’ with fresh security features

Crypto hardware wallet manufacturer Trezor announced on Friday the launch of its latest flagship product, the Trezor Safe 5, featuring upgraded security to promote self-custody of digital assets.

Institutional FX

Tradeweb enhances RFQ trading in bonds and ETFs

“Clients can now leverage predictive analytics and data to unveil deeper insights at the list level, providing them with an unparalleled level of precision throughout every point of the RFQ trading process.”

Industry News

US repatriates $1.4B misappropriated 1MDB funds to Malaysia

1MDB was created to promote economic development in Malaysia, but instead it went to Hollywood, a superyacht, a Monet and Van Gogh, as part of a $4.5 billion money laundering scheme.

Crypto Insider, Web3

What’s New in Web3 in 2024

Is Web3 really the future of the internet? It certainly seems so. In 2024, the momentum behind decentralized technologies, blockchain, and token-based economies will be stronger than ever.

<