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