Oscar-winning actress Kate Winslet will star and co-produce Fake!, a movie adaptation of the infamous OneCoin cryptocurrency scam.
The OneCoin Ponzi scheme generated around $4 billion between 2014 and 2017. The cinematic adaptation is based on the book of the same title by OneCoin victim, Jen McAdam. Along with members of her family and friend circle, McAdam reportedly invested almost $300 million in OneCoin.
‘Cryptoqueen’s’ Multibillion-Dollar Crypto Scam
The movie Fake! will be the story of OneCoin victim, Jen McAdam. OneCoin’s marketing material convinced the Scottish investor to buy into the scheme in spring 2016.
Kate Winslet will star in 'Fake!' – based on the book by Jen McAdam with Douglas Thompson, based on the true-life story of Jen McAdam and her involvement with the OneCoin Ponzi scheme.
(via DEADLINE) pic.twitter.com/y5aGcPxUNF
— Film Updates (@FilmUpdates) October 9, 2020
Speaking to the BBC, she claimed to have been impressed by a speech from project ringleader, Bulgarian national Ruja Ignatova, at a conference hosted by The Economist magazine. McAdam was later contacted by Bitcoin proponent Timothy Curry, who was interested in speaking with OneCoin investors.
Subsequently, Curry proceeded to send McAdam a stream of information, convincing her of the shadiness of the OneCoin operation. Among the data was proof that OneCoin’s ‘Bitcoin killer’ didn’t even have a blockchain.
Concern among other investors started growing in response to project roadmap delays and conference no-shows by Ignatova during 2017. Then, the Cryptoqueen went completely off the radar.
Other members of the OneCoin executive team have since been arrested and charged with offenses relating to wire fraud and money laundering. However, Ruja Ignatova remains at large. Her story has even become the subject of a BBC podcast, titled The Missing Cryptoqueen.
Fake It Till You Make It: Onecoin Ponzi Heading to Hollywood
McAdam co-authored a book about her experience with OneCoin alongside biographer, Douglas Thompson. According to Deadline.com, the pair are currently looking for a publisher.
US media firm, MGM, has reportedly acquired the rights to the book. Producing the movie on its behalf will be Jennifer Todd.
Kate Winslet and the film’s director and writer Scott Z. Burns will co-produce the movie. Meanwhile, McAdam herself will serve as executive producer.
Burns’ previous experience appears to make him a good fit to handle the cinematic portrayal as big as that of OneCoin. He wrote and produced The Laundromat, a dramatic account of the story of the Panama Papers.
He also received positive reviews for his 2019 political drama The Report, which documents an investigation into the CIA’s post-9/11 Detention and Interrogation Program. Burns and Winslet have worked together previously on the 2011 Steven Soderbergh pandemic movie, Contagion.