OneCoin Investors Settle with Co-Mastermind Konstantin Ignatov
- The plaintiffs even received warnings from the court for non-compliance.

OneCoin investors have agreed for a settlement with Konstantin Ignatov, the defendant and co-mastermind of the $4 billion crypto scam, a court filing showed on Thursday.
Lead plaintiff, Donald Berdeaux and plaintiff, Christine Grablis are representing all the investors of OneCoin who invested in the project from April 2014 through to and including March 2018 and suffered financial losses.
“Plaintiffs and defendant Konstantin Ignatov (together, the 'Parties') wish to discontinue between them without prejudice the claims asserted against Defendant Ignatov while not impeding in any way Plaintiffs’ further prosecution of their claims against the other defendants in this action,” the filing noted.
Non-Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with the Court
In April, a US court judge warned the plaintiffs that the case could be dismissed if they fail to provide details showing the reasons not to dismiss the class-action lawsuit. The court even warned the plaintiffs could face sanctions for non-compliance.
Ignatov was nabbed in March 2019, by the US prosecutors in New York, for his close ties with the multi-billion dollar crypto scam OneCoin. He was allegedly the personal assistant and also the brother of Ruja Ignatova, who was the founder of the fraudulent scheme and is now a fugitive.
The settlement followed Ignatov’s request for more time to respond to the complaint.
He is also awaiting sentencing for his role in the crypto scam as the court pointed out that he is still negotiating with the US prosecutors about his plea bargain. Notably, his testament against Mark Scott, the legal representative of OneCoin, helped the prosecutors to charge and convict him for laundering $400 million.
“If Plaintiffs determine in good faith that Konstantin Ignatov has in any way failed to fulfill his Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term under this Stipulation, Plaintiffs shall so notify his counsel in writing; and the rights of the Parties shall automatically revert to the positions in which they were situated in this action, respectively, immediately prior to the filing of this Stipulation,” the court added.
OneCoin investors have agreed for a settlement with Konstantin Ignatov, the defendant and co-mastermind of the $4 billion crypto scam, a court filing showed on Thursday.
Lead plaintiff, Donald Berdeaux and plaintiff, Christine Grablis are representing all the investors of OneCoin who invested in the project from April 2014 through to and including March 2018 and suffered financial losses.
“Plaintiffs and defendant Konstantin Ignatov (together, the 'Parties') wish to discontinue between them without prejudice the claims asserted against Defendant Ignatov while not impeding in any way Plaintiffs’ further prosecution of their claims against the other defendants in this action,” the filing noted.
Non-Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with the Court
In April, a US court judge warned the plaintiffs that the case could be dismissed if they fail to provide details showing the reasons not to dismiss the class-action lawsuit. The court even warned the plaintiffs could face sanctions for non-compliance.
Ignatov was nabbed in March 2019, by the US prosecutors in New York, for his close ties with the multi-billion dollar crypto scam OneCoin. He was allegedly the personal assistant and also the brother of Ruja Ignatova, who was the founder of the fraudulent scheme and is now a fugitive.
The settlement followed Ignatov’s request for more time to respond to the complaint.
He is also awaiting sentencing for his role in the crypto scam as the court pointed out that he is still negotiating with the US prosecutors about his plea bargain. Notably, his testament against Mark Scott, the legal representative of OneCoin, helped the prosecutors to charge and convict him for laundering $400 million.
“If Plaintiffs determine in good faith that Konstantin Ignatov has in any way failed to fulfill his Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term under this Stipulation, Plaintiffs shall so notify his counsel in writing; and the rights of the Parties shall automatically revert to the positions in which they were situated in this action, respectively, immediately prior to the filing of this Stipulation,” the court added.