Kate Winslet, the popular Hollywood actress has signed a contract to start and produce a movie named “Fake!” about the popular OneCoin Crypto Ponzi scheme. In our latest crypto news, we are reading more about it.
If the ongoing courtroom drama with OneCoin finders is not enough, you will soon be able to see a movie on the big screens. The ponzi scam made its way into the courts but now Kate Winslet will star in a movie about it. She signed on to star and produce the movie based on an unpublished book by Jen McAdam and Douglas Thompson who was a victim of OneCoin’s scheme and who will also be producing the movie.
Fake! Will be written and directed by Scott Z. Burnes who worked on The Report, the popular political drama based on the CIA reports on torture after 9/11 and wrote the 2011 pandemic movie contagion which also had Winslet star. OneCoin was founded back in 2014 by Ruja Ignatova in Bulgaria. The platform had the typical structure of a multilevel marketing scheme but with cryptocurrencies. It promised that OneCoin is the next best thing after Bitcoin though it wasn’t backed by a blockchain or a network. Despite the many warnings from the crypto industry, and regulators and government agencies, OneCoin grew bigger and continued being popular.
McAdam who started the support group for OneCoin victims said that her friends and family invested and lost about 250,000 in EUR before she learned their server was not a blockchain and was unable to create crypto. Ignatova was charged with wire fraud, money laundering, and securities fraud but she has not been seen since 2017. Her brother Konstantin Ignatov who was an executive in OneCoin was charged with the same back in March but he agreed to testify against his sister.
Ignatov pled guilty to charges of money laundering and conspiracy to commit wire fraud back in October and is now facing up to 90 years in prison in the criminal case. Ignatov’s sentencing is now scheduled for November 11. Ignatov told the New York prosecutors that Phoenix Thoroughbreds’ owner Amer Abdulaziz Salman was a key money-cleaner working under the guidance of Mark Scott’s co-conspirator and former lover of Ruja Ignatova Gilbert Armena.
Investors sued OneCoin for losses amounting up to $5 billion. Fake! Is not the first movie inspired by the scheme. There was also a TV show based on the British Broadcasting Corporation (BBC) podcast about Ignatova which is also in development.
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