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As part of Ruja Ignatova’s quest to sidestep finance regulations and avoid regulatory attention, Sheikh Saoud bin Faisal bin Sultan Al Qassimi sold her an Emirates banking license.

The deal took place in September 2015 for $16 million USD.

As per a co-signed “preliminary firm understanding/agreement“, Sheikh Saoud sold Ignatova the banking license for Emirates Malaysian Investment Bank.

After both parties agree on the terms and conditions Dr. Ruja will make a payment of $16,000,000 (Sixteen Million Dollars) to Sheikh Saoud.

After the payment Sheikh Saoud will assign the agreed shares and percentage to Dr. Ruja and will start the process of finding and finishing the required steps with Central Bank of the UAE for the full formation of the Bank.

To the best of my knowledge while Ignatova acquired the Malaysian Investment Bank license, no OneCoin bank was ever realized.

Nine months before Sheik Saoud reached a deal with Ignatova, Emirates Malaysian Investment Bank was linked to the GetEasy Ponzi scheme.

On December 31st, 2014, GetEasy Tiago Fontoura announced;

[7:12] Our own investment private bank. It belongs to iGetMania.

Based in Dubai (and) authorized by the Central Bank of Dubai, the name (of the purported investment bank) is Emirates Malaysian Investment Bank.

We have our own bank.

Based on the acquisition, Fontoura claimed GetEasy was the “first legal investment-based MLM company”.

[7:39] You, a new partner of Get Mania, have a share of a bank.

[7:53] From the beginning of the first work day, or the second work day of January, in three, four, five days from now, no bank, no authority in the world may prevent or forbid our good work.

A month later GetEasy collapsed. Fontoura tried to do a runner but was picked up by Tunisian authorities in July.

Whether Sheikh Saoud sold the Emirates Malaysian Investment Bank license to Fontoura and GetEasy is unclear.

What we do know is two months after Fontoura’s arrest, Sheik Saoud had reacquired the license and sold it on to Ignatova.

This suggests Sheikh Saoud was selling UAE banking licenses to Ponzi schemes on the side. That’s in addition to selling diplomatic documents.

Sheikh Saoud’s financial dealings with fraudsters are likely made easier by the fact his father, Sheikh Faisal bin Sultan Al Qassimi, founded United Arab Bank.

Faisal Al Qassimi is the bank’s Chairman of the Board of Directors and largest shareholder.

The Al Qassimis are also members of the royal house of Al Qasimi, who rule the Emirates of Sharjah and Ras Al Khaimah.

Ruja Ignatova’s financial dealings with the Al Qassimis, which have only come to light recently, strongly suggest the royal family might be sheltering her.

After Frank Schneider warned her US authorities were closing in, Ignatova (right) disappeared in October 2017.

Along with the 230,000 BTC Sheikh Saoud paid her for OneCoin, Ignatova hasn’t been seen or heard from since.

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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‘Be Patient- Bitcoin Price To Recover’ Says A Popular Analyst

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The global market capitalization for the past couple of days is experiencing an extreme drain. Most of teh crypto assets are registering a consecutive 5 red daily candles in a row. The huge selling pressure accumulated on the Bitcoin price has compelled it to bottom below $38,000. By trending very close to the support levels around $37,000, the fear of BTC price revisiting levels around $34,000 hovers. 

Despite the bearish sentiments surrounds the assets, yet it is believed that the price will recover very soon. A popular analyst Alan Santana, suggests his followers to patiently wait until the price flips the bears. He also said that some people are already giving up Bitcoin, falling into the trap of ‘Panic Selling’. And also asked his followers not to join them, rather wait until the next pump.

Also Read: Dogecoin Price Feared To Continue With A Bearish Trend, Is $0.2 At Stake?

btcchart

The price seems to be following the path led by the analyst as it bounced significantly on visiting the support zone at $37,978. With a significant bounce, the price could surge close to $40,000 or above. However, yet the chances of forming lower lows still hover the rally. And in such a case, the price could even visit the lower support at $35,700 and rebound. 

However, $35,700 are among the strong support levels and if in case, the Bitcoin price fails to sustain, then a plunge below $34,000 may be imminent. But considering the indicators, the RSI has already bounced back and MACD showcases ease in the selling volume. And hence considering the factors a bounce above $40,000 may be on the way for BTC price.

Also Read: Cardano(ADA) Price Spikes As Bitcoin & Ethereum Yet To Manage The Trembled Situation!

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