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OneCoin lawyer gets bail pending appeal for conviction and 10-year sentence

Judge Edgardo Ramos determined that Mark Scott was not “likely to flee or pose a danger to the safety of any other person or the community if allowed to remain on bail.”

Mark Scott, a lawyer connected to the OneCoin crypto scheme recently convicted for fraud and money laundering, has been granted bail pending an appeal of his case.

In an April 18 filing in United States District Court for the Southern District of New York, Judge Edgardo Ramos approved bail for Scott three months after sentencing the lawyer to prison for 10 years. A portion of the court filing had been redacted regarding Scott’s health issues, which his legal team argued did not make him a flight risk.

“Based on the record before the Court, given Scott’s medical conditions and because he has not been charged with a violent crime, the Court does not find that Scott is likely to flee or pose a danger to the safety of any other person or the community if allowed to remain on bail,” said Judge Ramos.

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‘Head of Compliance’ at Infamous $4,000,000,000 OneCoin Crypto Scheme Sentenced to Four Years in Prison

‘Head of Compliance’ at Infamous ,000,000,000 OneCoin Crypto Scheme Sentenced to Four Years in Prison

A top executive of the fraudulent cryptocurrency scheme OneCoin will spend years behind bars for her role in the multi-level marketing (MLM) scam that swindled billions from victims worldwide. OneCoin, which was co-founded by the so-called crypto queen Ruja Ignatova and Karl Sebastian Greenwood in 2014, promised to pay commission to members who recruited people […]

The post ‘Head of Compliance’ at Infamous $4,000,000,000 OneCoin Crypto Scheme Sentenced to Four Years in Prison appeared first on The Daily Hodl.

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US Court Sentences Onecoin’s Head of Legal and Compliance to 4 Years in Prison

US Court Sentences Onecoin’s Head of Legal and Compliance to 4 Years in PrisonA U.S. court has sentenced Onecoin’s purported head of legal and compliance to four years in prison. She “facilitated and committed money laundering, aiding in the exploitation of millions of victims,” said U.S. Attorney Damian Williams. The Onecoin legal chief was also ordered to forfeit $111,440,000. Onecoin’s Irina Dilkinska Sentenced The U.S. Attorney’s Office for […]

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Brother of ‘Cryptoqueen’ Responsible for $4,000,000,000 Scheme Released From US Prison: Report

Brother of ‘Cryptoqueen’ Responsible for ,000,000,000 Scheme Released From US Prison: Report

The brother of the infamous “Cryptoqueen” fugitive has reportedly been released from a US prison for his role in the $4 billion OneCoin crypto fraud. Bloomberg reports that Konstantin Ignatov, the brother of Ruja Ignatova, received a sentence of 34 months behind bars – time that he had already served in prison. Authorities said that […]

The post Brother of ‘Cryptoqueen’ Responsible for $4,000,000,000 Scheme Released From US Prison: Report appeared first on The Daily Hodl.

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Compliance Official Pleads Guilty to Money Laundering Charges Over Role in Infamous OneCoin Crypto Scheme

Compliance Official Pleads Guilty to Money Laundering Charges Over Role in Infamous OneCoin Crypto Scheme

A top-level OneCoin executive is pleading guilty to accusations arising from her alleged participation in the multi-level marketing (MLM) scam that swindled over $4 billion from victims worldwide. In a statement, the U.S. Department of Justice (DOJ) says that Bulgarian citizen and OneCoin head of legal compliance Irina Dilkinska has pleaded guilty to one count […]

The post Compliance Official Pleads Guilty to Money Laundering Charges Over Role in Infamous OneCoin Crypto Scheme appeared first on The Daily Hodl.

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Lawyer who laundered $400M from OneCoin scam denied new trial: Report

A lawyer who laundered $400 million from the OneCoin scam has been denied a new trial despite arguing there were legal mistakes and false testimony in the original trial in 2019.

The lawyer responsible for laundering $400 million from the OneCoin fraud has been denied a motion seeking a new trial, despite a prosecution witness having perjured themselves in the trial against him in 2019.

According to a Sept. 18 report from Bloomberg, 54-year-old lawyer Mark Scott argued that he didn’t know OneCoin was a fraudulent operation at the time and should not be charged for his role in setting up the fund that laundered money for OneCoin founder Ruja “Cryptoqueen” Ignatov. 

Scott was found guilty of money laundering and bank fraud conspiracy in November 2019, with prosecutors finding that Scott earned a total of $50 million through a fraudulent fund that processed payments and transactions siphoned from the OneCoin scheme.

His legal team has been seeking a new trial since, citing a false testimony from a government witness in the original trial. 

However, during a Sept. 18 hearing, United States District Judge Edgardo Ramos denied the attorneys’ request for a new trial, saying he was unconvinced that “an innocent person may have been convicted” despite the false testimony delivered during the 2019 trial by Konstantin Ignatov.

Konstantin Ignatov was a government witness who admitted to aiding his sister Ruja in the OneCoin fraud.

Lawyers for Scott said that they would appeal the decision, claiming that his client was “disappointed that the court did not grant a new trial given the undisputed evidence that the Government’s sole cooperating witness perjured himself.”

Related: OneCoin head of compliance facing 40-year sentence after US extradition

OneCoin was launched in 2014, and marketed itself as a cryptocurrency that was similar in structure to Bitcoin. However, it was later revealed to be a pyramid scheme that functioned by luring in new users with fictitious claims and promises of high future earnings.

The prosecution claimed that Scott used the $50 million in proceeds from OneCoin to finance an expensive lifestyle, buying a swathe of luxury goods including numerous multimillion-dollar homes, watches, sports cars and a 17 meter yacht.

On Sept. 12, Ramos sentenced OneCoin’s co-founder Karl Greenwood to 20 years in prison in the United States, after he was found guilty of a litany of charges including fraud and money laundering.

Ruja Ignatov has not been seen since October 2017 and is currently on the Federal Bureau of Investigation’s Ten Most Wanted List.

Big Questions: What’s with all the crypto deaths? 

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‘Cryptoqueen’ Associate Receives 20 Years in Prison, Ordered To Surrender $300,000,000

‘Cryptoqueen’ Associate Receives 20 Years in Prison, Ordered To Surrender 0,000,000

One of the co-founders of the $4 billion OneCoin crypto pyramid scheme has been sentenced to 20 years in prison. Karl Sebastian Greenwood co-founded the infamous fraud with Ruja Ignatova, widely known as the “Cryptoqueen.” Greenwood and Ignatova started OneCoin in 2014 and operated the company as a multi-level marketing (MLM) network. They falsely claimed […]

The post ‘Cryptoqueen’ Associate Receives 20 Years in Prison, Ordered To Surrender $300,000,000 appeared first on The Daily Hodl.

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OneCoin co-founder Greenwood gets 20 years in US jail for fraud, money laundering

Karl Greenwood will also have to pay back the $300 million he made in commissions in the OneCoin pyramid scheme.

Karl Greenwood, co-founder of OneCoin with Ruja Ignatova, was sentenced to 20 years in prison and ordered to pay $300 million in the United States on Sept. 20. Ignatova remains at large.

Greenwood, who is a citizen of the United Kingdom and Sweden, was sentenced in the U.S. Southern District Court of New York. In a statement by the U.S. Justice Department, U.S. Attorney Damien Williams called OneCoin “one of the largest fraud schemes ever perpetrated.” The multilevel marketing and Ponzi scheme reaped $4 billion from 3.5 million victims, the statement said, adding:

“In reality, unlike legitimate cryptocurrencies, OneCoin had no actual value.”

The OneCoin team compared its product to Bitcoin (BTC) in sales pitches, but did not have, in the words of the Justice Department, “a true blockchain — that is, a public and verifiable blockchain,” any mining operations or even as many coins on its private blockchain as it sold.

Related: OneCoin movie starring Kate Winslet coming soon

Greenwood has been in custody since 2018, when he was extradited from Thailand. He pleaded guilty to charges of fraud and money laundering in December and could have received a sentence of up to 60 years. He is said to have made over $300 million through a 5% commission on all OneCoin sales and to have spent lavishly on luxury goods and the corresponding lifestyle.

Ignatova has not been seen since October 2017 and is on the Federal Bureau of Investigation’s Ten Most Wanted List. A number of other OneCoin executives are facing justice, however.

OneCoin former head of legal and compliance Irina Dilkinska was charged in the United States with one count of wire fraud and one count of conspiracy to commit money laundering in March. Ignatova associate Christopher Hamilton was reportedly set to be extradited to the United States on fraud and money laundering charges in August 2022.

Magazine: Crypto Crimes Rated: From the Twitter Hackers to Not Your Keyser, Not Your Coins

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Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

Woman Allegedly Involved in ,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

The U.S. Department of Justice (DOJ) is charging a Bulgarian woman with fraud for allegedly playing a role in a multibillion-dollar crypto scheme. In a new press release, the DOJ announces fraud charges against Bulgarian national Irina Dilkinksa for allegedly being the head of the legal and compliance department of OneCoin, a $4 billion crypto-focused […]

The post Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ appeared first on The Daily Hodl.

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Onecoin Head of Legal and Compliance Charged for Role in Crypto Pyramid

Onecoin Head of Legal and Compliance Charged for Role in Crypto PyramidAuthorities in the U.S. have announced charges against a former Onecoin executive for her alleged role in the notorious crypto pyramid scheme. Bulgarian national Irina Dilkinska, who was extradited on Monday, may face up to four decades in prison if found guilty on counts of fraud and money laundering. Bulgarian Woman Handed Over to US […]

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