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Home News Cryptoqueen’s Guernsey Shell Companies Exposed in £17.5m London Property Scandal.
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Cryptoqueen’s Guernsey Shell Companies Exposed in £17.5m London Property Scandal.

23/11/2025

The tangled web of offshore secrecy surrounding fugitive Ruja Ignatova, the so-called “CryptoQueen,” continues to unravel. Investigations reveal that Ignatova laundered millions from her €4 billion OneCoin scam through anonymous Guernsey shell companies, using them to acquire two luxury apartments in London’s exclusive Kensington district in 2016.

The Guernsey Connection

The properties, a sprawling penthouse and a smaller unit in Abbots House, were purchased via Abbots House Penthouse Limited and Abbots Property Limited, both registered in Guernsey.

These entities were linked to Aquitaine Group Limited, a local wealth manager offering tax haven services to high-net-worth clients. [comsuregroup.com]

Court filings and BBC investigations show that Ignatova’s German lawyer, Martin Breidenbach, transferred €20 million to a London law firm to facilitate the purchases. Breidenbach is now facing money laundering charges in Münster, Germany. [comsuregroup.com], [cryptonews.net]

Lavish Lifestyle and Concealment

The penthouse, estimated at £13.5 million, featured a private pool and artwork worth £500,000, including Andy Warhol prints. Witnesses recall Ignatova arriving with bodyguards and designer shopping bags, underscoring her extravagant lifestyle funded by fraud. [comsuregroup.com]

Asset Freeze and Legal Action

Following a BBC exposé in November 2021, Guernsey’s Royal Court issued a restraint order on November 4, 2021, freezing the properties to prevent dissipation. This move coincided with revelations during Breidenbach’s trial about the laundering network. [nz.news.yahoo.com]

In 2023, Ignatova’s lawyers briefly surfaced, claiming beneficial ownership under new UK transparency laws. This triggered a controversial attempt to relist the penthouse for £11–12.5 million. However, the sale was ultimately orchestrated by German prosecutors in Bielefeld, with proceeds earmarked for victim compensation. [behindmlm.com], [bitcoineth…umnews.com]

What’s Next?

Guernsey authorities are now moving to enforce an overseas forfeiture order under the Forfeiture of Assets in Civil Proceedings (Bailiwick of Guernsey) Law, 2023, targeting accounts linked to Aquitaine Group Limited. A Royal Court hearing is scheduled for January 13, 2026. [gazette.gu…ypress.com]

Sources & Further Reading

GUERNSEY LEGAL CRYPTO FINES

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

news disclaimer -

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.