The DOJ has filed for permission to notify OneCoin victims of upcoming criminal proceedings.
The motion is pursuant to the Justice For All Act, which guarantees OneCoin victims, among other things;
1. the right to reasonable, accurate, and timely notice of any public court proceeding, or parole proceeding, involving the crime, and timely notice of the release of the defendant; and
2. the right to be reasonably heard at any public proceeding in the district court involving release, plea, sentencing, or any parole proceeding.
The problem before the court is that there are too many OneCoin victims to notify individually.
As laid out by the DOJ;
In or about 2014, OneCoin Ltd. was founded by two individuals, specifically, defendants Ruja Ignatova, a citizen of Germany, and Karl Sebastian Greenwood, a citizen of Sweden and the United Kingdom.
Although OneCoin Ltd. is based in Sofia, Bulgaria, the corporate entity was originally registered in Gibraltar on or about March 27, 2014, under the ownership of Ruja and a German attorney named Martin Breidenbach of the law firm Breidenbach Rechtsanwälte.
OneCoin Ltd. has claimed to have over three million members worldwide. The potential victims in this case include, among others, the individuals and entities who invested directly with OneCoin.
The Government is aware of thousands such individuals and entities; however, the Government does not know whether its information is complete.
Indeed, there are likely to be thousands of additional individuals and entities who invested with OneCoin, many of whom have not yet been identified by the Government.
Moreover, because of the international nature of the scheme, many, if not the majority, of the potential victims reside outside the United States.
The Government respectfully submits that it is impracticable to give individualized notice to each potential victim.
As an alternative, the DOJ is seeking permission to post a notice on the website of the the Office of the United States Attorney for the Southern District of New York.
The DOJ’s motion was filed on April 15th. At time of publication a decision on the motion remains pending.
A particularly juicy takeaway from the DOJ’s motion is “there remain a number of charges pending against various defendants”.
This suggests previously undisclosed OneCoin criminal charges are yet to be made public.