A former spy wanted by the FBI because he is linked to fellow fugitive ‘crypto queen’ Ruja Ignatova is now free.
Frank Schneider disappeared while under house arrest prior to his extradition to the US Francewith a warrant issued in May 2023, according to the BBC.
Schneider is alleged to have played a major role in a $4 billion cryptocurrency scam that could land him in prison for up to 40 years for fraud and money laundering.
The former spy, who headed Luxembourg’s intelligence service, is said to have assisted Ignatova by liaising with legal professionals and PR consultants who helped maintain the fraudulent cryptocurrency operation OneCoin.
Although authorities have been unable to locate Schneider, he told the BBC in December 2022 that “running away has nothing to do with anything,” and that he did not trust the US to give him a fair trial.
Frank Schneider disappeared prior to his extradition to the US while under house arrest in France, with a warrant issued in May 2023
Who is Frank Schneider?
Luxembourgish Schneider worked for self-proclaimed ‘crypto queen’ Bulgarian woman Ruja Ignatova, 44, infamous for her alleged role in the OneCoin crypto scam.
He was operations director of Luxembourg’s intelligence service and founded a private investigation agency called Sandstone in 2015.
He is believed to have helped Ignatova by bringing together the lawyers and PR consultants who worked to perpetuate the crypto scam.
The US prosecutor alleged that Schneider gave Ignatova confidential police information, but he has denied this.
In December 2022, the ex-spy told the BBC: ‘Running away won’t solve anything. This fight is not over yet.”
Fellow fugitive Ruja Ignatova, now 44, is wanted by the FBI for a fraudulent OneCoin cryptocurrency operation she allegedly led
Where is he now?
Schneider was ffirst arrested in April 2021 by police in France, near the border with Luxembourg.
After this he was imprisoned for seven months and then released under house arrest.
In December 2022, the former spy denied he had ever considered running away, despite losing an appeal against his US extradition in October 2022.
The extradition was signed by the French Prime Minister in February 2023, as confirmed by the Court of Appeal of Nancy.
Schneider told the BBC’s The Missing Cryptoqueen podcast that he doubted he would receive a fair trial in the US.
“I fear that I do not have access to a legal system in which I can properly defend myself.”
‘The system is largely based on so-called ‘plea negotiations’. That is already a problem for me, because I am deeply convinced that I am not guilty.
‘A trial in the US is a phenomenally expensive affair for a defendant. It will cost millions – between five and eight million is the estimate in my case. Those are amounts I don’t have.
“So I’m kind of stuck with what would happen in the United States when I get there.”
But now the fugitive is nowhere to be found, and the BBC reported that French authorities have been unable to locate him, despite being fitted with an ankle monitor and telling the broadcaster that he had no intention of running away.
The missing crypto queen: dead or alive? will be shown on BBC One’s Panorama at 8pm.
