More than 3.5 million people worldwide fell victim to the OneCoin scheme, which swallowed up several billions of dollars, according to a new Bulgarian audio documentary which premiered on May 12.
Available on the Storytel streaming service, the documentary “OneCoin: The Woman Who Deceived the World” is in Bulgarian, and later is to be released in English to reach a global audience.
A media statement said that the documentary, authored by investigative journalist Nikolai Stoyanov and editor Emilia Milcheva, tells the full story of the OneCoin scheme and Dr Ruja Ignatova.
OneCoin is the subject of various criminal investigations in several parts of the world, and the whereabouts of its founder, Bulgarian-born Ignatova, are unknown.
“Although Ruja promised that OneCoin would be the Facebook of cryptocurrencies, it later became clear that there was no crypto and blockchain technology behind it, and that it was just a large-scale, global Ponzi scheme that took experience from multilevel marketing and entered already established networks of people with many followers. It was a meta scheme,” the media statement quoted Stoyanov as telling Storytel.
The statement said that OneCoin was one of the largest financial frauds of all time.
According to conservative estimates, it swallowed at least $4 billion, though participants in it claim that according to OneCoin documents, by summer 2017 alone it had received more than 15 billion euro. More than 3.5 million people had been deceived, the statement said.
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