That is the premise. So, why didn’t I think of this? We all have this and on the defence of Microsoft, they had the ‘slogan’ at the launch of Windows 95 ‘Without even thinking’ the premise was brilliant as was the innovation from Windows 3.11 to Windows 95, no doubt about it. And without even thinking applies to so many applications and conditions, it is a brilliant created stage (credit where credit is due). So here I was reading the BBC (at https://www.bbc.com/news/articles/c9d1y0z4z9no) and that gave me the nudge to wake up. You see I wrote about Ruja Ignatova, now mentioned in ‘Fugitive ‘Cryptoqueen’ hit by asset freeze’ with the lines “Ruja Ignatova, known as the Missing Cryptoqueen, is now subject to a global freezing order which prevents her assets from being sold or moved.” I had written about it some time ago and now we see “The freezing order, made public on Wednesday at London’s High Court, is part of a group action brought by more than 400 OneCoin investors”, I looked at this ‘crypto queen’ somewhere in May of June last year, it could have been two years ago.
What made me consider this is that it has taken 6 years to do this. The questions come to mind is why this took 6 years. Come to think of this, why didn’t my sneaky way of thinking consider this. And in that light it she had moved all ‘her’ cash in some trust setting in Switzerland or Saudi Arabia it might not amount to anything. Those two countries have massive protections in place and anyone of them transgressing on their banking laws are in deep trouble. It is like rowing towards the end of the Niagara falls without an anchor in place.
So why did this global freezing order take 6 years? There might be a good reason, but the article doesn’t hand out the reason. Then we also get “The freezing order does not just target Ms Ignatova but seven other people and four companies – all alleged to have been connected with OneCoin in some form” which gives me another setting. Is ‘alleged’ enough to put a freezing order in place? Don’t get me wrong it sounds nice, but when was alleged enough to prosecute people and companies? Doesn’t that require proof?
Then we get to “Sebastian Greenwood, who is in a US prison serving a 20-year sentence for his role in the fraud. Also subject to the freeze are British businessmen Christopher Hamilton and Robert MacDonald, who appeared in court in London” which get us the added “The pair are accused by US authorities of laundering OneCoin proceeds, however attempts to extradite them to the US to face trial have failed”, now I do not known enough of either Christopher Hamilton and Robert McDonald, but why did the extradition fail? There might be a procedural or legal reason, but the BBC does not give us this. It might not hit the core of this story, which is Ruja Ignatova, yet in light of the time settings it becomes a liked interest, so why is it missing?
There are a few speculative sights to this. The first is that she was murdered (read: executed) and whomever was left with the bundles of cash is pretty much singing ‘do wa Diddy Diddy’ on a sunny beach. The second one that I considered was that she has a new identity, living it up in the UAE whilst her cash is in an optional Saudi bank, gaining 5%-10% interest over several billions, and as such you can live like a queen in Dubai or Abu Dhabi living off $100,000,000 plus each year. She might have been seeding the non captured funds to assure her of non-capture and non-freeze cash. This is all speculation but the stage that we see with 6 years vanishing makes these two the most likely scenario’s. And there are more places she could go when the cash is securely non-freezable.
This gets me back to the number one question. Why did the global freeze order take 6 years? There might be a really good (or correct) reason, but the BBC article does not give us that.
Something to consider especially When we consider the Khaleej Times exposed last June that ‘UAE scams exposed: How thousands of residents ‘lost it all’ in bogus investment schemes’ and this is one nation. They report “over 40,000 UAE residents have collectively lost hundreds of millions of dollars to fraudulent investment schemes” that is a serious amount of money and this is one nation. Don’t you think there is now a pressing need to up the effort to upgrade banking laws to take this factor out (or at least diminish it massively). I understand that a fool and his money are soon parted and that it is everyones responsibility to take steps to make it harder for these criminals. I think that the one clear lesson is that there are no free gifts (EVER). The second part is that nothing comes for free. Now we get that not all ‘currencies’ are the same. Look at Facebook. Their currency is data and a lot of people do not care about data, especially as they do not know what it could cost them. One question I have always in mind when someone offers me a deal to good to be true is “if it is too good to be true, it must be a false setting”, this has (up to now) prevented me a few times to lose my cash. The second thing is that if someone (an unknown person) comes to me with such an offer. My initial question becomes ‘Why doesn’t he (or she) go to friends first?’ The situation might have come up, or they might not have any friends. But when you deliver on ‘great’ deals you suddenly have more friends than anyone ever bargained for.
This is a paranoia setting, but it is not paranoia when everyone is after your bank account. Just a thought to consider.
So whether your funds are in a fridge or not. Make space by removing the venison and make yourself an awesome Bambi burger, with forrest unions and mushrooms. Bon appetite and have a lovely weekend when you get there. I get there in 2 hours. Now I need to find some venison, I suddenly feel peckish.
Lawrence van Rijn - Law Lord to be 