OneCoin - a well-known Pyramid scam model could escape a class action lawsuit because the plaintiffs didn't file enough.
Founding sisters of Onecoin
The suit was filed in mid-2019 by investors who lost hundreds of thousands of dollars for the program, accusing OneCoin leaders, including "Cryptoqueen" Ruja Ignatova and Konstantin Ignatov for promoting money investments. e tho the Ponzi model and violate US federal securities laws.
However, the judge who presided over the case in South New York district court said that the main plaintiffs, Christine Grablis and Donald Berdeaux, did not submit monthly updates on their efforts to serve the case. the case for the judge.
Judge Valerie Caproni warned in a request filed last Friday that Grablis and Berdeaux "must present the cause no later than April 16, 2020".
Caproni also "severe warning”The main plaintiffs may see sanctions if they fail to comply with future court orders.
And until today, these two plaintiffs do not have any other actions, the possibility of the case being canceled.
In March last year, U.S. prosecutors in New York officially charged the Ignatova sisters, the founder of Onecoin, alleging that the project stole billions of dollars from investors through The largest cryptocurrency pyramid scheme in history.
The Southern District Court of New York prosecuted the sisters on wire fraud, stock fraud and money laundering at the time. However, while Konstantin was arrested at Los Angeles International Airport after attending a conference calling for investment, Ruja's older sister had long run away.
According to Coindesk
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