Onecoin was undoubtedly one of the notorious crypto fraud scheme which though has reached to a Court trial yet it hasn’t stopped making headlines. In the recent headlines, a German Court, conducting the trial, revealed the extravagant standard of living maintained by the mastermind behind Onecoin’s operations namely Ruja Ignatova, also called the “Cryptoqueen”, wherein she had bought an eighteen million dollar worth of a penthouse in Central London.
The revelation of this luxurious lifestyle of Cryptoqueen was revealed by none other than her attorney in Germany namely Martin Breidenbach against whom the Munster Court is proceeding trial.
Breidenbach Rechtsanwälte was and is a German law firm which was once acted as legal attorney for Onecoin – a crypto fraud. But at presently the very legal firm, through its founding partner, Martin Breidenbach, is being tried before a Court in Munster, Germany. He too has been named aider of Onecoin’s notorious operator namely Ruja Ignatova, who is also known by her another name “Cryptoqueen”.
Cryptoqueen self-launched Onecoin which was a crypto investment scheme and it started off with a bang in the global market. However, there were a few people who raised questions regarding authenticity and legitimacy of Onecoin scheme.
Resultantly, there was a small portion of people who developed doubts and in 2014, the business of Onecoin started to get affected. The firm then sought legal opinion from a German law firm which turned out to be “Breidenback Rechtsanwalte”.
The firm’s founding partner, Breidenbach was inducted as the legal attorney for Onecoin and also rendered the required opinion. In this opinion, Breidenbach opined that Onecoin is an authentic crypto investment scheme and therefore should be trusted. Apparently, the scheme lacked the backing of any blockchain network and therefore was certainly doubtful.
Even then, the scheme was given a clean chit by Breidenbach. It was on the basis of Breidenbach’s opinion that a legal confirmation with regard to the scheme was assured. This then cleared Onecoin from the public doubts and the scheme was once again back on its track.
However, later it became crystal clear that the scheme was a fraudulent crypto scheme and the mastermind behind it was Cryptoqueen. Several arrests were later made and many of the key officials associated with the scheme were captured. But the main accused namely Ruja Ignatova escaped and has been successfully hiding somewhere.
In the meanwhile, trial in a German court initiated against Coinone which also included trial against Breidenback Rechtsanwalte and its partner, Breidenback.
On the last date of hearing of the trial of Breidenback, Court was informed that Cryptoqueen had an extravagant standard of living. It was revealed by Breidenback that while the scheme was active, she had bought an expensive penthouse in Central London. According to Breidenback, she had bought the penthouse for an amount of US$ 18 Million.
Of course, the money was taken out of the public money entrusted to Onecoin. Cleverly, she bought the penthouse in a company’s name which company also turned out to be fake one. But still the Cryptoqeen is at lose and nobody knows about her whereabouts.