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

Institutional FX

BNY Mellon to leverage Baton System’s CCP network on its ECPO service

“The union of Baton’s extensive CCP connectivity with the ground-breaking functionality of BNY Mellon’s ECPO service forms a powerful offering to cleared derivatives market participants.”

Institutional FX

NYSE and Tel Aviv Stock Exchange to promote dual listings

“This major step is intended to foster collaborations between the two exchanges and to encourage the dual listing of Israeli companies in their home market and on the NYSE.”


TT’s KRM22 selected as risk technology partner of Chicago-based RCM

“Broad product coverage and effective risk analytics performance are essential to proper implementation of risk management and risk analysis.”

Industry News

DXtrade FX/ CFD Platform Integrated with Your Bourse for Turnkey Liquidity

DXtrade brokers received access to 30+ major banks and Tier 2 liquidity providers with Your Bourse.

Executive Moves

Wave hires Harumi Urata-Thompson as CFO of SEC-regulated crypto investment company

“With extensive experience leading teams across both the traditional finance and digital asset sectors, Harumi is well-equipped to provide our team with the immediate strategic insights needed to optimize our financial operations. She is a fantastic addition to our team as we continue to strengthen our position as one of the leading digital asset managers and to deliver sophisticated financial services to our clients.”

Retail FX enters United States as brokerage obtains license from FINRA

“We intend to be fully operational as a brokerage house in the U.S. by the end of H1 2023 and look forward to forging long term relationships with new business partners and clients.”


Pico launches Corvil Cloud Analytics as trading industry moves into cloud

“Since Corvil Cloud Analytics is software only, this accelerates our deployments and also provides an expedited avenue for proof-of-concept use cases. It’s now easier than ever for clients to access the platform so they can see firsthand what makes Corvil an industry leader in data analytics.”

Executive Moves

Finalto recruits Antony Parsons as head of liquidity

Finalto, the financial trading division of Gopher Investments, is making a broader push into the liquidity provision space, culminating in a new appointment focused on expanding the business into new markets.

Digital Assets

Huobi introduces Tether’s stablecoins pegged to euro, gold

Huobi, the world’s sixth-largest crypto exchange by trading volume, is set to introduce for its clients two stablecoins representing ownership of physical gold and Euro-pegged tokens.