Residential Property Seized
New Zealand police have confiscated a residential property and over $282,000 in cash, allegedly belonging to Frank Schneider, an advisor to Onecoin mastermind Ruja Ignatova. The assets seized are suspected to be proceeds from a global Ponzi scheme. Schneider, a Luxembourg citizen, is believed to have purchased the property through a third party, who received money between 2018 and 2020. After being arrested in April 2021 and spending seven months in prison, Schneider was released under house arrest. Despite claiming he wouldn’t receive a fair trial in the U.S., where he faced potential jail time, Schneider disappeared while wearing an ankle tag.
No Hiding in New Zealand
Following the seizure of assets, Detective Inspector Christiaan Barnard reassured that Onecoin masterminds are not hiding in New Zealand. He emphasized the commitment of the New Zealand Police to prevent the abuse of the country’s financial system for illicit income. The police are now working with international partners and seeking to forfeit the confiscated assets.
Hot Take: Onecoin Advisor’s Assets Seized in New Zealand
A residential property and a significant amount of cash allegedly belonging to Onecoin advisor Frank Schneider have been seized by New Zealand police. The assets are suspected to be linked to a global Ponzi scheme orchestrated by Onecoin mastermind Ruja Ignatova. Schneider, who is said to have purchased the property through a third party, disappeared while on house arrest awaiting extradition to the U.S. The authorities in New Zealand believe that the masterminds behind Onecoin are not hiding in the country. The police are collaborating with international partners to ensure the integrity of New Zealand’s financial system and are seeking to permanently seize the assets.
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