As a part of Ruja Ignatova’s quest to sidestep finance rules and keep away from regulatory consideration, Sheikh Saoud bin Faisal bin Sultan Al Qassimi bought her an Emirates banking license.
The deal befell in September 2015 for $16 million USD.
As per a co-signed “preliminary agency understanding/settlement“, Sheikh Saoud bought Ignatova the banking license for Emirates Malaysian Funding Financial institution.
After each events agree on the phrases and circumstances Dr. Ruja will make a fee of $16,000,000 (Sixteen Million {Dollars}) to Sheikh Saoud.
After the fee Sheikh Saoud will assign the agreed shares and share to Dr. Ruja and can begin the method of discovering and ending the required steps with Central Financial institution of the UAE for the complete formation of the Financial institution.
To the perfect of my data whereas Ignatova acquired the Malaysian Funding Financial institution license, no OneCoin financial institution was ever realized.
9 months earlier than Sheik Saoud reached a cope with Ignatova, Emirates Malaysian Funding Financial institution was linked to the GetEasy Ponzi scheme.
On December thirty first, 2014, GetEasy Tiago Fontoura introduced;
[7:12] Our personal funding non-public financial institution. It belongs to iGetMania.
Primarily based in Dubai (and) licensed by the Central Financial institution of Dubai, the title (of the purported funding financial institution) is Emirates Malaysian Funding Financial institution.
Now we have our personal financial institution.
Primarily based on the acquisition, Fontoura claimed GetEasy was the “first authorized investment-based MLM firm”.
[7:39] You, a brand new accomplice of Get Mania, have a share of a financial institution.
[7:53] From the start of the primary work day, or the second work day of January, in three, 4, 5 days from now, no financial institution, no authority on this planet might forestall or forbid our good work.
A month later GetEasy collapsed. Fontoura tried to do a runner however was picked up by Tunisian authorities in July.
Whether or not Sheikh Saoud bought the Emirates Malaysian Funding Financial institution license to Fontoura and GetEasy is unclear.
What we do know is 2 months after Fontoura’s arrest, Sheik Saoud had reacquired the license and bought it on to Ignatova.
This implies Sheikh Saoud was promoting UAE banking licenses to Ponzi schemes on the facet. That’s along with promoting diplomatic paperwork.
Sheikh Saoud’s monetary dealings with fraudsters are possible made simpler by the actual fact his father, Sheikh Faisal bin Sultan Al Qassimi, based United Arab Financial institution.
Faisal Al Qassimi is the financial institution’s Chairman of the Board of Administrators and largest shareholder.
The Al Qassimis are additionally members of the royal home of Al Qasimi, who rule the Emirates of Sharjah and Ras Al Khaimah.
Ruja Ignatova’s monetary dealings with the Al Qassimis, which have solely come to gentle just lately, strongly counsel the royal household could be sheltering her.
After Frank Schneider warned her US authorities had been closing in, Ignatova (proper) disappeared in October 2017.
Together with the 230,000 BTC Sheikh Saoud paid her for OneCoin, Ignatova hasn’t been seen or heard from since.