Frank Schneider, a key figure in OneCoin’s money laundering operations, has been arrested in France.
Schneider is also believed to have tipped off Ruja Ignatova about the FBI investigation, leading to her disappearance.
In addition to tipping Ignatova off, Schneider also handled OneCoin’s dirty work.
Through his company Sandstone S.A., Schneider engaged the UK PR firm Chelgate.
Chelgate, working with the law firm Carter Ruck, lobbied UK authorities on OneCoin’s behalf.
This resulted in the Financial Conduct Authority, the UK’s top financial regulator, retracting a securities fraud warning issued against OneCoin.
In retrospect, the FCA retraction was one of the worst examples of European regulatory negligence regarding OneCoin.
Schneider, a connected former member of Luxembourg’s secret service, had up until now evaded capture.
As reported by Republicain Lorrain, Schneider was picked up by authorities on an international arrest warrant in Joudreville.
He was arrested this Thursday, in a spectacular fashion, as he was preparing to cross the Luxembourg border.
Joudreville is about a thirty minute drive from the Luxembourg border.
Following his arrest, Schneider was taken into custody and transported to the regional capital Nancy. There he is being held in anticipation of an extradition request from US authorities.
As of yet we’ve had no word from the US side. Pending extradition of Schneider, hopefully we’ll get access to an unsealed indictment with full details.
If anyone knows what happened to Ruja Ignatova since her 2017 disappearance, it’s Frank Schneider.