Ruja Ignatova was born in the Bulgarian city of Sofia, but she moved to Germany at the age of 10. She obtained a university degree in European private law from the University of Konstanz in 2005.OneCoin, the cryptocurrency with which she has been successful since 2014, is not Ignatova's first questionable venture. In 2012, Ignatova was convicted of fraud in Germany in a case involving a company that was declared bankrupt under dubious circumstances, shortly after she took over the company. She received a 14-month suspended prison sentence for this.Ignatova has also been involved in a failed multi-level marketing program called BigCoin. But that was child's play compared to the OneCoin project.