OneCoin Investors Entirely Dismiss Class Actions LawsuitOctober 8, 2021
The investors of the billion-dollar crypto scam, OneCoin, have dismissed all charges against the remaining individuals accused in the class-action lawsuit, a court document filed on Thursday revealed.
The lead plaintiff, Donald Berdeaux and plaintiff, Christine Grablis, have already dismissed all their claims against Mark Scott, David Pike, Nicole Huesmann and The Bank of New York Mellon on September 20, who were initially named in the lawsuit.
The latest dismissal has dropped the name of Onecoin Ltd, mastermind Ruja Ignatova, Sebastian Greenwood and Gilbert Armenta, all of whom have defaulted.
The court documents detailed that now OneCoin is a defunct entity with no attachable assets, while Ignatova’s whereabouts remain unknown. Greenwood and Armenta are in federal custody and are separately charged for their involvement in OneCoin’s operations and promotion.
A Tough Case
Additionally, the investors in the class-action lawsuit settled with OneCoin’s co-mastermind and Ruja’s brother, Konstantin Ignatov, earlier. Moreover, the court warned the plaintiffs last April for not showing reasons against the dismissal of the class-action lawsuit.
“Plaintiffs have concluded that the dismissal of Mark Scott, David Pike, Nicole Huesmann and Bank of New York Mellon Corporation from this Action has rendered this litigation untenable and no longer a productive use of judicial resources, due largely to the fact that the remaining defendants all appear to be essentially judgment proof, in that it will be extremely difficult or impossible to successfully enforce a judgment against any of the remaining defendants due to their imprisonment and/or lack of recoverable assets,” the court document stated.
“As no class has yet been certified, no payment or monetary inducement has been offered or promised to Plaintiffs or Plaintiffs’ counsel, and voluntary dismissal without prejudice at this stage does not bind any putative/absent class claimant other than the named Plaintiffs, Plaintiffs believe it is advisable and is in the best interest of judicial efficiency to voluntarily dismiss the Action without prejudice at this time.”
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