As the worldwide famous OneCoin Ponzi scheme is now being dissected by courts, it seems that a motion picture is also in development about it, with Titanic star Kate Winslet as its lead. So, if you’ve always wondered what exactly happened in this whole OneCoin situation, you may get a chance to have it all explained to you, in true Hollywood fashion, of course.
According to recent reports, the Academy Award winner has accepted to produce and star in Fake!, a movie which will be based on a momentarily-unpublished book by Douglas Thompson and Jen McAdam. The latter was, in fact, a real victim of the OneCoin scheme and will also be a producer for the movie.
Another interesting fact is that Scott Z. Burns will write and direct the movie. He is the same guy who also helmed The Report, the highly-acclaimed drama about CIA’s reports after 9/11, and Contagion, the shockingly-accurate 2011 pandemic movie, also starring Kate Winslet.
In case you didn’t know, OneCoin is a Bulgarian-founded crypto scheme that began its activity in 2014, helmed by Ruja Ignatova. According to multiple reports, OneCoin was a typical multilevel marketing scheme that also threw crypto into the mix. It presented OneCoin as being the next big thing, like Bitcoin, but without any blockchain or network to back it up. At the time, government agencies and numerous crypto experts warned people concerning the OneCoin affair but to no avail as the scheme was becoming more and more popular. Its creator chose to adopt the “us versus the world” mentality and pin people against the industry leaders and governments opposing this scheme.
McAdam is the founder of the OneCoin support group and a victim herself. According to her reveals, she and her entire family invested and also lost more than $298,000. That was until she found out that the OneCoin server was actually not a blockchain at all and couldn’t create any cryptocurrency.
On May 7th, Ignatova was charged with securities and wire fraud, as well as money laundering. What’s interesting, however, is that she has not been seen by anyone since 2017. In March, her brother Konstantin, who acted as OneCoin executive, was also charged. He has agreed to testify against his own sister in this case as numerous investors have sued OneCoin for fraud totaling losses of about $5 billion.
It must also be mentioned that the upcoming Fraud! motion picture is not the only adaptation of this highly-popular case. A TV series based on BBC’s podcast about Ruja Ignatova’s life and the worldwide famous scheme is also currently in the works.