Christopher Hamilton, a British citizen allegedly linked to Ruja Ignatova’s OneCoin cryptocurrency scheme, is reportedly facing extradition to the US on charges related to a scam dating back to 2014.
According to a Tuesday report from legal news outlet Law360, A judge in the United Kingdom will allow the process to move forward so that Hamilton can be extradited to the United States on charges of wire fraud and money laundering. Hamilton was allegedly involved in laundering $105 million through the OneCoin crypto Ponzi scheme, which defrauded more than 3 million investors of more than $4 billion through bundling as of 2014.
A judge cleared the way Tuesday for a British man to be extradited to the US to face money laundering and wire fraud charges stemming from the global OneCoin cryptocurrency scam. https://t.co/6nDFizeCt9
— Law360 (@Law360) August 30, 2022
Under a bilateral extradition agreement between the United States and the United Kingdom signed in 2003, an executive authority within the United Kingdom government – in this case, likely Home Secretary Priti Patel – will decide whether to transfer Hamilton to the United States custody. According to the US Department of Justice, the extradition process “can take many months or even years to complete.” It is also likely that Hamilton will be able to appeal the decision.
Ignatova received a place on the FBI’s Ten Most Wanted list in June for her alleged involvement in the cryptocurrency Ponzi scheme. According to the FBI, the last known location of the “Cryptoqueen” was in Athens in 2017. The bureau offered to pay up to $100,000 for information leading to her arrest. Europol is also offering a €5,000 reward for “crucial information” related to Ignatova’s whereabouts.
“Ignatova allegedly made false statements and representations about OneCoin to entice people to invest in OneCoin packages,” the FBI said in June. “According to investigators, Ignatova and her partner also promoted OneCoin through a multi-level marketing strategy that encouraged OneCoin investors to sell additional packages to friends and family.”
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