TikTok Gambling Scheme Uncovered, Cryptoqueen Vanishes With $4 Billion

Submitted by Nagesh Rath on

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Nagesh Rath

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Investigators in Minnesota are looking into allegations two Edina brothers have been running a TikTok gambling scheme in the state’s casinos.

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The state Alcohol and Gambling Enforcement Division accuses the two men of collecting a subscription fee of $5.99 for playing slots via the social media platform while others watched.  The two men would play the casino games at the Mystic Lake Casino in Prior Lake and the Treasure Island Resort & Casino just outside Red Wing, according to court filings.

State law prohibits placing bets on behalf of someone else. So far no one has been charged.

The one brother has 165,000 followers worldwide.

Neither men have been identified as no charges have yet been filed.

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This ‘Cryptoqueen’ Scammed Investors Out of $4 Billion, the FBI says

Authorities claim Ruja Ignatova, the self-proclaimed "Cryptoqueen", has vanished after boarding a plane in Sofia, Bulgaria.  And with her, went somewhere in the neighborhood of $4 billion.

Authorities Also believe OneCoin was a pyramid scheme that defrauded investors worldwide out of these funds. Federal prosecutors describe OneCoin as one of the largest international fraud schemes ever perpetrated.

The report comes just weeks after FTX collapsed and its disgraced founder remains under house arrest in his parents Palo Alto, California home.  

She is now one of the FBI’s 10 most-wanted fugitives, alongside accused gang leaders and murderers.

Ignatova and her partners “conned unsuspecting victims out of billions of dollars, claiming that OneCoin would be the ‘Bitcoin killer,’” US Attorney Damian Williams, New York’s top prosecutor, said in a statement last month.

“In fact, OneCoins were entirely worthless … (Their) lies were designed with one goal, to get everyday people all over the world to part with their hard-earned money.”

- Nagesh Rath, Gambling911.com

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