Beware of OneCoin – Review Part 2

In addition to the well-known OneCoin film and television series in development, a Bulgarian documentary will be released.

“Deception Queen” began filming in late 2021 and is set to hit theaters before the end of the year.

I’d never heard of Deception Queen before, so this came as a surprise.

The production is being directed by Bulgarian screenwriters Luchezar Avramov and Dimitar Stoianovich, according to Cineuropa.

Deception Queen “wants to expose the truth about the OneCoin Ponzi fraud.”

The team, which also includes investigative journalist Nikolay Stoyanov and business development specialist Martin Kadilov, is funded by producer Nikolay Mutafchiev of PREMIERstudio and the Bulgarian National Film Center, with a budget of €275,500.

The Deception Queen is being produced as the first true documentary on the subject, following the tale from start to finish and diving into the facts at the source, such as the OneCoin company’s Bulgarian headquarters.

The Deception Queen will feature never-before-seen footage from the rise of Ignatova and OneCoin, as well as interviews with the first CEO of OneCoin, the lead prosecutor in the Bulgarian investigation, the person who currently manages the company’s assets, and victims of the scheme in the United Kingdom and the United States.

Because this is a Bulgarian production, the dishonesty of the Bulgarian government is the elephant in the room.

Both in terms of failing to charge anyone involved and allowing OneCoin to continue to operate out of Sofia.

I’d like to see that addressed in Deception Queen, but I’m not holding my breath.

The Bulgarian National Film Center is “an administrative organization under the Minister of Culture,” according to its website.

The Minister of Culture is in charge of the Ministry of Culture, which is, of course, a Bulgarian government department.

I did see that Deception Queen will include “the senior prosecutor in the Bulgarian probe.”

Surprisingly, after having written almost 450 articles for OneCoin since 2014, I have no idea what this lawsuit is about.

As far as I’m aware, no one in Bulgaria has been charged with anything linked to OneCoin. I’m not even aware that there was ever a Bulgarian inquiry into OneCoin.

In reality, the Bulgarian government has yet to openly confront the $4 billion Ponzi scam on which it failed to act — and continues to turn a blind eye.

Believe it or not, OneCoin continues to function internationally from its original location in Sofia, Bulgaria, which Ruja Ignatova purchased many years ago.

Bulgarian officials escorted German prosecutors to OneCoin’s Sofia headquarters, which is the only Bulgarian action I’m aware of.

In 2018, a raid commanded by the Germans was carried out as a result of this. Apart from that, the Bulgarian authorities have taken no action.

Ruja Ignatova was also interviewed for the role of OneCoin’s first CEO. I doubt they’ve tracked her down for an interview because she’s been missing since 2017.

In late 2016, Pablo Munoz (below) took over as the company’s figurehead CEO, replacing Ruja Ignatova.

Munoz vanished in May 2017 after six months of doing little more than collecting a salary.

Pierre Arens was shortly replaced by OneCoin in place of Munoz. Arens was only at the company for a few months before leaving in October 2017. Both are said to have been paid more than EUR 2 million for their time on the show.

It will be Munoz’s first public appearance since his stint at OneCoin if Deception Queen has gotten him for an interview.

I’m also interested in learning more about “the individual who now administers the company’s assets.” The fact that this person isn’t identified is revealing.

While it would be fascinating to see a documentary made in the United States criticize its administration. That is not what I believe we will get.

Instead, it appears to be a standard examination of OneCoin, including contributions from some of the scheme’s most responsible perpetrators.

The film Deception Queen will be released in November 2022.

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