The court determined that Dr Ruja Ignatova, 45, had £8.59m. plus interest held in an account at RBS International in Guernsey, in the name of Aquitaine Group Limited.
Ignatova, known as the Missing Cryptoqueen, has not been seen in eight years, disappearing days after an arrest warrant was issued for her in the US.
An overseas forfeiture order, which was sought on behalf of German authorities in the city of Bielefeld, was upheld by the court and the funds have been transferred to Guernsey’s Seized Asset Fund.
A Bulgaria-born German citizen, Ignatova is wanted by prosecutors in Germany and the FBI.
In November she was given 28 days to object to the confiscation application being made to the court. No response was received.
In 2014, Ms Ignatova founded the fraudulent OneCoin cryptocurrency, which saw investors lose more than $4bn, according to the FBI. A Bulgaria-born German citizen, Ms Ignatova is also wanted by prosecutors there.
With the co-operation of Guernsey authorities, Bielefeld’s prosecutors have been seeking to recover funds from the sale of two London properties once owned by Ms Ignatova through Guernsey companies.
The companies were used to buy a penthouse apartment and a smaller apartment in London.
The apartments have been subject to a Guernsey Royal Court restraint order since 4 November 2021. They were sold for a total of more than £11m. but as of May 2024 only £8.8m. remained due to fees and taxes. It is intended that the money will be used to compensate victims of the fraud.
Ms Ignatova is also subject to a worldwide asset freeze, brought on behalf of investors seeking compensation at London’s High Court.
The application was due to be subject to a hearing in the Royal Court last week, but the hearing was cancelled after all parties consented or withdrew objections to the application.
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