Bulgaria's "Crypto Queen" Ruja Ignatova Charged in Absentia, Still on the Run

Ruja Ignatova, the notorious Bulgarian figure known as the "Crypto Queen," has been formally charged in absentia with leading an organized criminal group and committing investment fraud through a Ponzi scheme, driven by financial gain. This charge follows a pre-trial investigation initiated based on evidence from international law enforcement agencies. Ignatova also faces allegations of money laundering, with accusations spanning from 2014 to 2017, involving both instigating and participating in fraudulent activities.

According to Bulgarian prosecutors, Ignatova engaged in numerous transactions to dispose of property, concealing its origins and her ownership, all acquired through criminal activities. The case is considered particularly severe due to the significant amount of property involved and the organized nature of the criminal enterprise.

The Bulgarian legal system has ordered Ignatova to be detained for up to 72 hours, although this will only take effect if she is located. The prosecution has stated that she could face a prison term ranging from 5 to 15 years.

Earlier this year, Chief Prosecutor Borislav Sarafov and US Ambassador Kenneth Merten jointly announced an investigation into Ignatova's activities. Merten also revealed that the US government is offering a 5 million dollars reward for information leading to her arrest or conviction. Ignatova has been elusive since 2017, when she was last seen boarding a flight from Bulgaria to Greece, after which she vanished and has remained untraceable.

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