header banner

Mishcon de Reya has announced that the Litigation Finance Journal is the Opt-In Claim against the OneCoin cryptocurrency scheme

Table of Contents

    At the European Litigation Funding Conference in March of this year, it was notable that one of the first panels of the event focused on the potential growth of litigation targeting cryptocurrency companies that have allegedly defrauded customers. Whilst it is still uncertain how viable these claims can be, given the difficulties around the valuation of the underlying assets, the announcement of a new claim being brought in the UK suggests that the appetite for these lawsuits is still present.

    In a press release, Mishcon de Reya LLP have announced that it will be bringing a claim in the High Court in London against those behind the OneCoin cryptocurrency scheme, which allegedly defrauded investors from around the globe. The opt-in claim will allege that OneCoin was not a legitimate cryptocurrency offering but instead “operated as a Ponzi scheme”, taking in over £4 billion in investment and resulting in the founder and their associates “pocketing vast sums of misappropriated investor funds.”

    Rhymal Persad, partner at Mishcon de Reya, stated:

    “The fraudulent OneCoin scheme concocted by Ruja Ignatova and others greatly impacted the lives of its victims who ranged from sophisticated to lay investors. The forthcoming claim in the High Court in London aims to achieve at least partial redress for those investors who were taken in by the deception and who suffered losses as a result”.

    In the announcement, the law firm revealed that it had already secured financing from an unnamed third-party litigation funder. OneCoin investors who feels they are victims of the OneCoin scheme are encouraged to join the claim at: https://www.onecoinvictims.com/  

    Follow us on social media



    Article information

    Author: James Richardson MD

    Last Updated: 1700217242

    Views: 1209

    Rating: 3.8 / 5 (116 voted)

    Reviews: 82% of readers found this page helpful

    Author information

    Name: James Richardson MD

    Birthday: 1950-03-02

    Address: 88562 Meyer Wells, Lake Andrew, CO 52019

    Phone: +4213350171435497

    Job: Network Administrator

    Hobby: Hiking, Survival Skills, Golf, Raspberry Pi, Puzzle Solving, Cross-Stitching, Role-Playing Games

    Introduction: My name is James Richardson MD, I am a unwavering, enterprising, priceless, important, welcoming, treasured, brilliant person who loves writing and wants to share my knowledge and understanding with you.