A filing in a lawsuit filed against cryptocurrency firm OneCoin has revealed that one of the proposed lead plaintiffs lost over $700,000 in the scam.
According to documents submitted on July 8th in a Manhattan court, proposed lead plaintiff Donald Berdeaux invested approximately $755,918.92 in OneCoin between August 2015 and May 2016. This translated to an investment of around $76,000 per month over the ten-month period.
In 2015, between August and November, Berdeaux invested $252,096.32 in the OneCoin cryptocurrency scam. The following year Berdeaux topped up his investment with an additional $504,822.60.
Another investor lost over $100K
Berdeaux’s proposed co-lead plaintiff Christine Grablis also lost sums amounting to over $100,000 by investing in OneCoin. Per documents filed in the lawsuit, Grablis invested $64,813 between August and November 2015. In 2016, she invested $38,765 between January and August bringing her total investment to $103,578.
Grablis initiated the lawsuit two months ago. Alongside Berdeaux, Grablis has indicated that ‘to the best of their knowledge, that there are no other applicants with a bigger financial interest who are seeking to be the lead plaintiffs.
Besides the Sofia, Bulgaria-based OneCoin Ltd, other defendants in the suit include the head of OneCoin Konstantin Ignatov who was arrested earlier this year by U.S. authorities.
The leaders of an alleged multibillion-dollar international pyramid scheme that involved the marketing of the cryptocurrency OneCoin were charged by U.S. prosecutors with fraud and money laundering. The alleged head of the scheme, Konstantin Ignatov, was arrested Wednesday at LAX pic.twitter.com/QRvqp9KAjv
— Diligence IG (@DiligenceIG) March 14, 2019
OneCoin scam – a family affair
Ignatov’s sister Ruja Ignatova who is believed to have founded OneCoin is also a defendant alongside other officials who actively promoted the scam.