In 2014, Ruzha Ignatova launched OneCoin - a cryptocurrency that promises to revolutionize the global financial system, bTV recalls. Just three years later, the company turned out to be a financial scheme that defrauded investors around the world of billions of dollars.
Ignatova disappears, and authorities in Europe, the US and even the Middle East are involved in an investigation on several continents. Now, new reports suggest that the crypto queen may be hiding in South Africa.
What is causing the agencies to launch an intensive search, says investigative journalist Aaron Hyman.
Mr. Hyman, in the last month, your organization has received many reports that Ruja Ignatova is in South Africa and that German security services have launched a search in Cape Town. Where do these claims come from?
- Most of the reports I have seen indicate that she was last seen boarding her plane to Cape Town a few years ago. Meanwhile, the FBI is increasingly actively searching for her, which is in complete contradiction to some previous investigations published in the media.
- I would like to note here that the announced reward for the discovery of Ignatova has reached five million US dollars. Perhaps it is no coincidence that the latest traces lead to the Republic of South Africa, which has become a new home for many political migrants, and their hiding from the authorities sometimes continues for decades.
Why might Ruja Ignatova have chosen South Africa as her hiding place?
- There is a strong presence of foreign organized crime groups from Southeast Europe in the country, including Bulgaria and Serbia. The Russian mafia uses the territory of South Africa as a buffer zone. These groups maintain contacts with each other and interact in common criminal schemes, also related to financial pyramids.
- If we look at the Bulgarian trace, Krasimir Kamenov-Kuro was shot in Cape Town, could the Bulgarian criminal groups ensure Ignatova's peaceful stay in the country?
- Yes, it is possible, but it is not only him. Due to the visa-free regime with the Russian Federation, it is very easy to travel between the two countries, as well as to other border countries in the region. Bulgarian organized crime operates actively in South Africa and has shown over the years that it has easy access to state institutions, to launder money with impunity. This has helped Bulgarian figures to travel seamlessly from here to Europe and other African countries, without being detected when crossing the border. Such a criminal network would also be useful in the search for Ruzha, especially if she passed through Russia on her way and converted her money into another cryptocurrency that would be difficult to trace.
Meanwhile, airports in the country are key points of interest, with security camera footage from major hubs and Tambo International Airport being analyzed in the hope of finding a breakthrough.
There is speculation that Ignatova may be using her wealth to travel on private jets or yachts, avoiding commercial airports and the scrutiny of authorities. It has also been suggested that she may have altered her appearance with plastic surgery to further conceal her identity.
People don't even have to change their appearance to hide in South Africa. We recently had a man who was wanted for the Rwandan genocide and had been hiding in South Africa for quite a long time, since the beginning of 2000. This man had not changed the way he looked at all. He was only arrested last year, we have had similar cases with other criminals.
South Africa has a fairly developed financial sector and banking services. Could it be open to abuse?
- Yes, it is well known that financial income, especially from cryptocurrencies, is difficult to trace and can be easily manipulated, even converted into real currency. Then this currency could be transferred through the South African banking system without being detected. As part of the cybercrime service, we have identified quite a few violations, most of them from tycoons who act as temporary migrants in the country. A well-known but difficult-to-track scheme. Work is being done in this direction, but slowly and often the traces are lost. I'll go back to Ignatova again - her tracks are just suddenly being investigated and a search for directions begins, it could be in Russia, it could be in other countries that have similar conditions to South Africa.
With the investigation intensifying, the search for Ruzha Ignatova is more critical than ever. With South Africa now in the spotlight, authorities are calling on anyone with information to come forward.
What would be the impact of the potential return of the crypto queen?
- First of all, they would have to arrest her in South Africa, Interpol is active here too, the UN international convention is also active. Then there would be extradition to Germany as one of the countries where she is being investigated. There are also extradition agreements in the US. If she is arrested here, she would be immediately brought to court and then she would have to apply for bail. And then she would go through the whole extradition process, which could take years. I think the impact would be quite big, especially for the crypto world.