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Ep07- Moneyland – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

What’s Moneyland? That’s what the first half of this “The Missing Cryptoqueen” episode is about. The second part is about Frankfurt, the city where Jamie and Georgia think that Dr. Ruja might be hiding. In any case, Moneyland is that mythical place where the money that millionaires and corporate entities want to disappear goes. The concept comes from british journalist Oliver Bullough, who “has spent many years investigating the ways illicit money flows around the world, including in Eastern Europe.” He’s this episode’s star guest.

The Frankfurt part, however, is the most exciting segment of the whole podcast so far. The production team really stepped up their investigative game and got closer to Dr. Ruja than any police department ever will. We know our summaries are phenomenal, but we recommend that everyone listens to that second part at least.  

Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox.

In any case, let’s go to Moneyland!

About “The Missing Cryptoqueen,” Episode Seven – “In Plain Sight”

Is Dr. Ruja alive? Before even mentioning Moneyland, producer Georgia Catt confirms a possible Dr. Ruja sighting to presenter Jamie Bartlett. The staff of an Athens restaurant remembers someone with Dr. Ruja’s characteristics as part of a party of six. What they’re not sure about is exactly *when* did this happen. Interesting. The possibility of a Dr. Ruja running around Europe might’ve been the catalyst for the Frankfurt part of the episode. But first, let’s get to Moneyland.

After hearing the basic facts of the OneCoin case, journalist Oliver Bullough tells Jamie that once upon a time “Albania descended into anarchy because of a pyramid scheme.” As the crypto world has confirmed lately, these scams can be dangerous. Then, Bullough explains what Moneyland is. Rich and smart people can construct their “assets in such a way that they become invisible.” They can still use them to “buy political influence and nice houses and yachts.” 

When it comes to other people trying to find those assets, though, they turn invisible. So, “that’s what Moneyland is, Moneyland is the place where these assets go.” This breaks Jamie, who asks if there’s zero chance of finding them. Bullough tries to cheer him up by saying “It’s not zero chance. It’s, yeah. I mean, it’s been very well hidden, right?” And that’s not the most depressing part of the episode. After that, they inform us that the UK has stopped their investigation into OneCoin. They just gave up.

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FTT price chart for 11/18/2022 on FTX | Source: FTT/USD on TradingView.com

Moneyland Leads To Frankfurt

When things look darker, “The Missing Cryptoqueen’s” production team gets into high gear. They turn their investigating arm up a few notches and focus on the Internet. “We put so much online now, and that information can betray us. And that’s what took us to somewhere we think Dr. Ruja might be.“ That somewhere is Frankfurt. Our heroes determine that Dr. Ruja’s ex-husband and her hidden daughter live in the city. Plus, her best friend seems to have visited Frankfurt recently.

They get there and they find nothing, not a single trace. This part is excruciating. However, it leads Jamie and Georgia to a high-luxury neighborhood that feels like the place Dr. Ruja would live. This is where Monelyland leads to. In there, they find a charismatic but annoying postman that might remember the name Ignatova. They leave that storyline open and “The Missing Cryptoqueen” returns to England. 

To finish the episode off, Jamie has a very interesting discussion with Cameron, “a UK-based OneCoin promoter.” Is he a true believer or is he just defending an extremely lucrative business? Cameron goes all in and carries the OneCoin party line to the very end. Wow. This might be the most surprising part of the whole episode. 

Quotes From Episode Seven of “The Missing Cryptoqueen”:

Oliver Bullough, explaining how money can disappear:

“If you are rich enough and well advised enough or clever enough, you construct your assets in such a way that they become invisible. They still exist, you can still use them to buy things, you can still use them to buy political influence and nice houses and yachts. But when it comes from someone trying to find them, whether that’s a journalist or a police officer, the assets are invisible. And so that’s what Moneyland is, Moneyland is the place where these assets go.”

Jamie Barlett on what led them to Frankfurt:

“There’s one place we haven’t looked, not really looked. And it’s probably the most obvious place of all, the Internet. We put so much online now, and that information can betray us. And that’s what took us to somewhere we think Dr. Ruja might be. Not Athens, Frankfurt. It took weeks of extremely boring internet research and painstakingly going back through everything we’ve learned so far.”

Extra Material, about “Moneyland”: 

In The Guardian’s review of Oliver Bullough’s “Moneyland,” they quote a metaphorical definition of the novel term:

“He conceives of it as a secret, parallel world, almost like something from a fairytale: “The very wealthiest people … have tunnelled into this new land that lies beneath all our nation states, where borders have vanished. They move their money … and themselves wherever they wish, picking and choosing which countries’ laws they wish to live by.”

The Guardian also says:

“He is surprisingly successful at getting some of the architects of the offshore world to open up, and is sensitive to the fact that some of its users have good reason to avoid governments, such as rich dissidents fearing the politically motivated confiscation of their assets. He also accepts an argument frequently put to him in notorious tax havens: that wealthier, less criticised countries such as Britain have been equally involved in building and maintaining Moneyland.”

Episode Credits

Presenter: Jamie Bartlett
Producer: Georgia Catt
Story consultant: Chris Berube
Editor: Philip Sellars
Original music and sound design: Phil Channell
Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir

Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast:

Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 03 – https://www.newsbtc.com/altcoin/ep03-onecoin-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 04 – https://www.newsbtc.com/scams-and-fraud/ep04-onelife-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 05 – https://www.newsbtc.com/scams-and-fraud/ep05-mlm-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 06 – https://www.newsbtc.com/scams-and-fraud/ep06-dealshaker-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Featured Image: The Missing Cryptoqueen’s logo, from the BBC | Charts by TradingView

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Ep04- OneLife – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

What does a OneLife-produced event look like? Is the organization that supports the OneCoin community competent enough to produce a beauty pageant? The answer to those questions might surprise you. For this fourth episode, Jamie Bartlett and Georgia Catt go into the lion’s den. They travel to Bucharest, Romania, and witness the Miss OneLife coronation. Apparently, the event had some of “the world’s most famous brands as sponsors.” However, as it happens with everything Dr. Ruja related, things are not what they seem.

This episode’s guest star is Christi Calina, who’s a OneLife “independent marketing associate” and one of the event’s producers. Since the man’s ghosting them, Jamie and Georgia ambush him at a OneLife event in the same city. The conference “looks like the real deal, just like OneCoin,” Jamie evaluates. There, they get access to the Miss OneLife event and things take a turn for the mysterious.

Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox.

About “The Missing Cryptoqueen’s” Episode Four – “Miss OneLife”

In this episode, Jamie and Georgia go through the charges against Konstantin Ignatov, Dr. Ruja’s brother. They contain some of the FBI documents about the case and include emails between Dr. Ruja and “other top leaders” of the OneLife organization. In those, the people allegedly discuss how the scam works in detail. If those are real, there’s no doubt that OneCoin was a very deliberate scam from the very beginning. They even discuss how to fake the mining of the supposed cryptocurrency.

In those emails, Dr. Ruja discusses a possible exit strategy and proposes they could “take the money and run and blame someone else for this.”

Later on, the FBI claims Dr. Ruja is “directly associated with significant players in the Easter European organized crime.”

It’s important to know that OneCoin disputes all of these allegations. We included part of their denial in the quotes section. We also included concrete information about Dr. Ruja’s disappearance and a new factor that might explain why she fled at the time she did. 

BTCUSD price chart for 10/25/2022 - TradingView

BTC price chart for 10/25/2022 on Bitstamp | Source: BTC/USD on TradingView.com

The Miss OneLife Beauty Pageant

Our heroes go into the eye of the storm. They can barely enter the premises because everyone in the OneLife organization knows exactly who they are. They don’t blend in. Everyone is “smartly dressed.” Bottles of Moet and cigars abound. The production is slick. A stage comes down from the ceiling and Jamie loses his mind. In the end, they both admit that the OneLife organization can throw a hell of an event. It was boring, though. And it doesn’t look like any cryptocurrency-related function that the podcast host has ever attended. 

“OneCoin is still going and there’s a lot of money here,” Jamie says before fleeing the event. 

Back in London, the producers fact-check everything that happened. The famous brands that were supposedly attached to the Miss OneLife pageant deny sponsorship. They’ve never heard of the event. Then, they contact Forbes and the magazine denies that Dr. Ruja was ever on the cover like the organization made seem in their promotional material. Then, they check on her education claims. As it turns out, Dr. Ruja did go to Oxford and got the degree she claims to have.

To finish the episode off, Jamie interviews Miss OneLife UK. She gives them peripheral information, like the event’s ticketing wasn’t open to the public and one of the prizes was a gift card for cosmetic surgery. Then, Jamie mentions Dr. Ruja. She says that she heard someone important was at the event, but couldn’t remember if it was her.

Is it possible that Dr. Ruja was in attendance at the Miss OneLife event? Apparently, “she’s unrecognizable now.”

This story gets more fascinating by the minute.

Quotes From “The Missing Cryptoqueen’s” Episode Four – “Miss OneLife”

OneCoin’s statement:

“OneCoin disputes all allegations. To our claim that OneCoin is not a cryptocurrency and that its nominal price is not determined by demand and supply, but is manipulated and set internally, they said: “OneCoin verifiably fulfills all criteria of the definition of cryptocurrency, and also those of a transparent pricing that is in line with the common market”. The BBC podcast series, they say, “is based on testimonials of haters, former employees who were either fired or disgracefully dismissed for internal company violations, intellectual property theft, and other violations. Thus, the series will not present any truthful information and cannot be considered objective, nor unbiased.” 

Concrete information about Dr. Ruja’s disappearance, and a new factor that might explain why she fled:

“The FBI files also contained valuable new information about Dr. Ruja’s disappearance. “Bulgarian travel records show that on or about October 25th, 2017, Ruja flew on Ryanair from Sofia, Bulgaria to Athens, Greece.” Dr. Ruja was last seen in Sozopol, in around July 2017. That was on her private yacht, the Davina, the one we saw. On October 7th, she then failed to turn up at a OneCoin event in Lisbon. But now we know that her last known whereabouts was in fact Athens on 25th October 2017. And there’s some more clues here. 

Last week, I said that the US authorities charged Dr. Ruja in absentia in March 2019. That’s not the whole story. We’ve learned that Dr. Ruja was actually indicted on 12th October 2017, but this indictment was sealed until March 2019. It was just two weeks after that first indictment that Dr. Ruja vanished. Is it possible she could have been tipped off?”

Extra Material And Episode Credits

As you probably know if you’ve gotten this far in the series, Dr. Ruja is on the FBI’s most-wanted list. The text under her name says:

“Ruja Ignatova is wanted for her alleged participation in a large-scale fraud scheme. Beginning in approximately 2014, Ignatova and others are alleged to have defrauded billions of dollars from investors all over the world.  Ignatova was the founder of OneCoin Ltd., a Bulgaria-based company that marketed a purported cryptocurrency.  In order to execute the scheme, Ignatova allegedly made false statements and representations to individuals in order to solicit investments in OneCoin.  She allegedly instructed victims to transmit investment funds to OneCoin accounts in order to purchase OneCoin packages, causing victims to send wire transfers representing these investments.  Throughout the scheme, OneCoin is believed to have defrauded victims out of more than $4 billion.”

And finally, the episode’s credits:

Presenter: Jamie Bartlett
Producer: Georgia Catt
Story consultant: Chris Berube
Editor: Philip Sellars
Original music and sound design: Phil Channell
Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir

Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast:

Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 03 – https://www.newsbtc.com/altcoin/ep03-onecoin-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Featured Image: The Missing Cryptoqueen’s logo from the BBC | Charts by TradingView

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Ep03- OneCoin – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

Good news! Since OneCoin is back on the news and “The Missing Cryptoqueen” already released an 11th episode, proving that they’re back for real, we’re going to double down on our efforts. Starting today, we’ll summarize two episodes a week to catch up with the new developments in Dr. Ruja’s case. We hit the nail on the head on this one, and there’s nothing left to do but let the roulette roll and see where the OneCoin story takes us.

In this episode, we learn that OneCoin’s internal slogan was “the greatest company ever” and Jamie Bartlett travels to Sofia, Bulgaria, to look at Dr. Ruja’s properties. This episode is free of mafia insinuations, it deals with the cultic aspects of OneCoin’s entrepreneurial culture instead. We’re also able to put a number on how big of a scam OneCoin really was. SPOILER ALERT: It was at least €4B big.

Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox.

About OneCoin And “The Missing Cryptoqueen’s” Episode Three

The most exciting thing about “The Missing Cryptoqueen” is the sense of immediacy it conveys. It’s a living and breathing podcast. The story was happening all around Jamie Bartlett and the team. The OneCoin people react to “The Missing Cryptoqueen’s” creation and, through social media, attack the creators with everything they have. And the whole scene is part of the podcast. And this is just episode three. In the end, they even ask for the audience to call and tip them about Dr. Ruja’s whereabouts.

This episode starts with Konstantin Ignatov, Dr. Ruja’s younger brother, personal assistant, and heir to the OneCoin crown. He was arrested by the FBI and charged with money laundering and fraud. The authorities had already declared OneCoin a fraud, even. Surprisingly, when Bartlett and the team visit the OneCoin headquarters, they realize that the company is still “open for business.” People are still buying OneCoin despite the fact that one of their leaders is on the run and the other was arrested.

That leads us to the cult-like aspects of the operation. A faith-like belief justifies the disappearance of the leaders as a conspiracy to stop OneCoin. In the quote below, you will feel the silence while reading the description of the organization’s offices. You’ll feel the Dr. Ruja worship. It’s just one step away from religion and very near a cult.  Jamie Bartlett describes OneCoin as “less a cryptocurrency and more like a belief system.” An expert in that field corroborates the hypothesis.

BTC price chart for 10/20/2022 on Bitstamp | Source: BTC/USD on TradingView.com
The Devastation That They Caused

At one point we, once again, listen to Dr. Ruja’s own voice saying the crypto scammers’ slogan. “In two years, no one will talk about bitcoin.” If you ever hear that, run. In the second episode, we figured out that OneCoin called the critics “haters.” In this one, we learn that the investors and employees are instructed to keep away from them Scientology-style. Another surprising fact is that the second term OneCoin uses the most to describe its critics is “bitcoiner.” Those pesky bitcoiners, always causing trouble.

We learn about the scale of the devastation that Dr. Ruja caused by hearing about the OneCoin Victims Support Group. The victims are broken, they’ve lost everything and then some. We also learn about the scale of the scam by way of a report/ database that producer Georgia Catt got her hands on. From all over the world, the organization was getting €60M a week. From August 2014 to March 2017, OneCoin’s revenue was over €4B. Over €100M were from the UK alone. And that’s where the report stops, the organization was still making money left and right.

Quotes From “The Missing Cryptoqueen ’s” Episode Three – “More Than Just A Coin”

An anonymous witness describing the OneCoin offices: 

“At its peak, it was about 50 people working in the Sofia office. Ruja’s office is on the 4th floor. You never saw her without the gypsy earrings, the gowns, the jewelry, everything. Even when she’s just working in the office. Inside the Sofia office, the crypto center is where members of the OneLife network are allowed to meet members of the Sofia staff who are important. If you are out of favor, they won’t let you in, or they’ll keep you sitting there the whole day, waiting. 

It’s set up almost like a cathedral. You don’t speak out loud, you whisper to each other. It’s all set in dark tones, everything is gilded. There was a big cardboard cutout of Ruja. You see people touching it and doing that stupid OneCoin sign like it’s an icon. It’s gone now because it eventually fell apart because too many people were touching it. Dr. Ruja! Dr. Ruja! The biggest insult that you can give OneLife is to say: “that’s not Dr. Ruja’s vision.”

Bitcoin-enthusiast Timothy Curry, describing the cult of personality behind Dr. Ruja:

“There were many cultish things that the company did. The repetitive indoctrination. If you look at the top leaders, the way they dress, the way that they showed things off. Ceremonial things, almost like, especially on stage. Everything, from the musical introductions to Ruja, to the theatrics, they really did create a worship behind her.”

OneCoin Material And Episode Credits

Six years ago, while OneCoin conquered the world, NewsBTC quoted the infamous Roger Ver speaking on the case. Then known as a “bitcoin evangelist,” the controversial figure denounced OneCoin for what it is: 

“In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud, and that investors should always be wary of new coins and read up before they put their money in things they don’t understand:

“There is never a cryptocurrency without a wallet. This sounds like more evidence of its fraudulent nature. OneCoin isn’t traded on a single exchange anywhere in the world as far as I know.”

OneCoin has been around for over two years, but questions surrounding its authenticity continue to plague the Internet.”

Say what you will about Roger Ver, but the man was right on the money on this one.

And finally, the episode’s credits:

Presenter: Jamie Bartlett
Producer: Georgia Catt
Story consultant: Chris Berube
Editor: Philip Sellars
Original music and sound design: Phil Channell
Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir

Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast:

Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/

Featured Image: The Missing Cryptoqueen podcast logo from the BBC | Charts by TradingView

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Ep01- Dr. Ruja – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

Is Dr. Ruja Ignatova the cryptocurrency world’s biggest scammer? The competition is fierce, there are so many faces and stories fighting for that spot, but none of them is on the FBI Most Wanted List. Dr. Ruja is. Great, but, why is NewsBTC revisiting the 2019 true crime podcast “The Missing Cryptoqueen”? Because Jamie Bartlett, the journalist behind the project, just released a new episode. 

Is there new information? Did they FIND Dr. Ruja Ignatova? The only thing we know for sure is that there’ll be a few new episodes, and that’s all we needed to hear. A BBC production, “The Missing Cryptoqueen” features various music and sound design, witness testimonies, interviews, and sound bites. There’s even original music in this podcasting extravaganza. 

NewsBTC will produce companion pieces for each of “The Missing Cryptoqueen’s” episodes. With summaries, quotes from the episode, and extra material from all over the web, this is the feature you people didn’t know you needed. Have this window open as you listen to each episode, it’ll enhance the already phenomenal experience.

You can download episodes directly at the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox.

About Episode One – Dr. Ruja

This is the introductory episode, it presents Dr. Ruja Ignatova and the OneCoin world. We feel the size of the scam, we hear from the people that fell for it and the voices of the true believers. It begins with Bitcoin and Satoshi Nakamoto’s story, goes to a OneCoin seminar in Mbarara, a town in Western Uganda, and ends with Dr. Ruja’s disappearance in October 2017.

In “The Missing Cryptoqueen’s” first episode we can also see what a charismatic leader could do with bitcoin’s story and narrative. If Dr. Ruja Ignatova didn’t plagiarize it, she at least was heavily inspired by Satoshi Nakamoto’s mystique and discourse. Using quotes from her speeches, we hear Dr. Ruja speaking about a rotten financial system and corrupt banking institutions. About the possibility of banking the unbanked and what that would do for the world. About bitcoin’s pizza day story and how that could happen to OneCoin holders.

However, Dr. Ruja’s OneCoin was better than bitcoin. It was here to replace it, in fact.

Whenever you hear that, run. That should’ve been the witnesses’ first warning. In episode one, we hear about the OneLife network. The social part of the scam. We hear from a UK victim who assisted to the webinars, from a OneLife employee and insider, and we listen to an African song about OneCoin. There’s emotion in all of their voices. And an open wound.

Near the end, we hear about 2017 and Dr. Ruja’s disappearance from people that were there at the scene. What happened? So far, there are nine more episodes of BBC’s “The Missing Cryptoqueen.” Let’s hope we get an answer to that question.

BTC price chart for 09/28/2022 on Bitstamp | Source: BTC/USD on TradingView.com
Quotes From Ep. 01 – “Dr. Ruja”

  • “Then, in late 2017, Dr. Ruja disappeared. One of Europe’s richest women, a woman who seemed destined to change the world had vanished.”
  • “It was impossible not to be impressed by Dr. Ruja. She appeared on the front cover of prestigious business magazines, she has degrees from Oxford and Konstanz University and is fluent in several languages.”
  • “Thousands of people were filling stadiums to hear Dr. Ruja talk, to buy OneCoin and join this financial revolution.”
  • “But in October 2017, there was a big OneCoin event in Lisbon, Portugal and Dr. Ruja was scheduled to speak.”

Extra Material And Episode Credits

This guide’s extra material comes courtesy of the podcast series’s IMDB page. In the description, IMDB gives us a good overview of what to expect from “The Missing Cryptoqueen.”

“Dr Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded millions to join her financial revolution, investing billions. Then she disappeared. Why? Jamie Bartlett spent months investigating how she did it for the Missing Cryptoqueen podcast, and trying to figure out where she’s hiding.”

This 2019 clip with producer Georgia Catt also qualifies as a trailer for what’s to come:

And finally, the episode’s credits:

Presenter: Jamie Bartlett
Producer: Georgia Catt
Story consultant: Chris Berube
Editor: Philip Sellars
Original music and sound design: Phil Channell
Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir

You’re part of NewsBTC’s “The Missing Cryptoqueen’s” listening group by just reading these guides. Let’s explore Dr. Ruja Ignatova’s world together.

Featured Image: “The Missing Cryptoqueen” logo from the BBC’s site | Charts by TradingView