OneCoin Fraud Ring: Ignatov Brother Completes Prison Term, Co-Conspirators Face Years Behind Bars

The sprawling OneCoin cryptocurrency fraud—one of the most significant crypto scams in history—continues to unravel through the U.S. justice system. Konstantin Ignatov, whose sister Ruja Ignatova orchestrated the $4 billion scheme, walked free from prison on March 5 after serving the full 34-month sentence imposed by U.S. District Judge Edgardo Ramos.

Ignatov’s Path from Assistant to Leadership

Ignatov’s involvement in OneCoin began during its operational peak (Q4 2014 to Q3 2016) when his sister hired him as a personal assistant. When Ruja Ignatova vanished in 2017, Konstantin transitioned from support staff to become the scheme’s de facto leader—a significant shift that prosecutors highlighted during proceedings. His guilty plea acknowledged his central role in sustaining the international fraud apparatus after his sister’s disappearance.

Guilty Plea and Judicial Outcome

Rather than face trial, Ignatov cooperated with authorities and entered a guilty plea, leading to his 34-month sentencing. Crucially, he had already served this duration in pretrial detention, making him eligible for immediate release. The court also mandated two years of supervised release and required him to forfeit $118,000. Judge Ramos noted that Ignatov’s courtroom perjury regarding a discarded laptop in Las Vegas—though acknowledged—did not constitute sufficient grounds to overturn his guilty verdict.

A Broader Conspiracy: Other Convictions Mount

The Ignatov brother’s release occurs within a larger context of OneCoin prosecutions. Karl Sebastian Greenwood, the co-founder who worked closely with Ruja Ignatova, received a 20-year prison sentence in September after profiting approximately $300 million through the scheme—funds he channeled into luxury travel, designer clothing, and high-end real estate. Mark Scott, OneCoin’s former legal counsel, drew a 10-year sentence in January for laundering $400 million, with orders to forfeit $392 million. Irina Dilkinska, the project’s head of legal and compliance, pleaded guilty in November and faces up to a decade in prison.

The Fugitive Cryptoqueen

While justice has been served for numerous OneCoin operatives, Ruja Ignatova remains at large nearly seven years after her disappearance. She maintains a position on the FBI’s Ten Most Wanted list, though unverified reports suggest she may have been eliminated by a criminal associate in 2018. Her continued absence underscores how the architecture of large-scale cryptocurrency fraud often depends on elusive key figures.