Brother Of 'CryptoQueen' Dropped From OneCoin Fraud Suit

Law360 (August 20, 2020, 7:58 PM EDT) -- The brother of "CryptoQueen" Ruja Ignatova agreed to testify against his sister and four other defendants in a proposed class action over an alleged $4 billion OneCoin cryptocurrency scam, according to a joint request to drop him from the suit approved Thursday in New York federal court.

U.S. District Judge Valerie E. Caproni signed off on a voluntary dismissal deal that sees Konstantin Ignatov escape securities fraud, fraud, negligent misrepresentation and other claims in civil litigation over the alleged scheme.

In addition to cooperating with the proposed class of OneCoin investors, Ignatov agreed to testify on the investors' behalf if the...

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