Report: George Bush's Brother Got $300K for Meeting With OneCoin's 'Cryptoqueen'

Neil Bush is alleged to have received $300,000 to attend a meeting involving OneCoin co-founder and current fugitive Ruja Ignatova, known as the "Cryptoqueen."

As Law360 reported on Nov. 15, testimony in a U.S. District Court for the Southern District of New York contained allegations against Neil Bush, brother of former President George W. Bush and son of the late President George H.W. Bush.Sibling entanglements.

Neil Bush, a businessman, had been interviewed by the FBI due to his role as a board member of Hoifu Energy, which is owned by wealthy Chinese businessman Dr. Hui Chi Ming.

One of Dr. Ming's companies is alleged to have pursued a $60 million loan to buy an African oil field and Scott's counsel has subsequently argued that Bush's indirect involvement with the deal contributed to Scott's feeling confident enough to transact with those behind it.

"Bush recalled that the head of Hoifu Energy, Dr. Hui Chi Ming, received a bunch of cryptocurrency for an oil deal in Madagascar. Bush had a residual interest in the cryptocurrency from the oil deal. Bush met the woman from the cryptocurrency company, Ruja Ignatova, in Hong Kong with Dr. Hui.".

"So, there was an actual meeting with Ms. Ignatova, Mr. Bush and Mr. Hui?".

Garvin affirmed the meeting, noting that Bush was paid $300,000 for his participation.

The FBI's report allegedly noted that Hui had pledged Bush 10% of the sale if Hui was able to sell the cryptocurrency - yet the deal ultimately fell apart.

The judge quashed calls for Bush himself to testify before the court, heeding the argument made by Bush's counsel that it would not be relevant, given that Bush was not on the board of the specific Hui company involved in the sale.

The judge further concurred that Bush's testimony would not add anything further to what was already included in the FBI's report.