OneCoin associate Mark Scott was charged with two counts of money laundering totaling $400 million. Now, one of the enablers of Crypto’s biggest scam wants the charges against him dropped.
OneCoin Aide Claims ‘Insufficient’ Evidence
Mark Scott was found guilty by a jury last November of two counts of money laundering (wire fraud and bank fraud) for OneCoin and its elusive founder Ruja Ignatova totaling $400 million.
The trial latest just three weeks and concluded quickly after compelling evidence of emails between himself and Ignatova in which the “Crypto Queen” asked him to “park” money for her for a fee–while promising her anonymity.
Yesterday, he told the Southern District of New York that the charges against him should be dropped based on “insufficient” evidence. Failing that, he argued that the court should take the case to the federal government to decide.
Prosecutors ‘Failed’ in Fighting His Case
In a memorandum that accompanied his motion for acquittal, Scott stated that his prosecutors had failed to make it known that he was, in fact, investigating the alleged misrepresentations of Ignatova’s funds by a co-conspirator. The document stated:
The evidence adduced through these witnesses and others — in large part innuendo and hearsay — was insufficient to support a conviction of on either count… The court should, therefore, enter a judgment of acquittal on both counts.
Memorandum or no, the going for Scott looks decidedly uphill. The OneCoin associate was arrested back in 2018 on counts of helping Ignatova launder OneCoin investors’ funds by creating entities called the Fenero funds.
These entities then funneled the capital away from the Bulgaria-based OneCoin and back into the coffers of Ignatova and her associates. For his part in the operations, Scott allegedly commanded an eye-watering $50 million in fees alone.
At the time, the jury dismissed Scott’s pleas that he was unaware that OneCoin was a scam and that he was merely acting in the best interests of his client. For her part, the elusive Ignatova has not been heard from since Oct 2017 when she fled her native Bulgaria.
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The Onecoin scam, a multi-level Ponzi scheme that acquired $4 billion from investors has been falling apart at the seams. Criminal proceedings have started against Onecoin leaders and one alleged associate who was found guilty of laundering $400 million has asked a New York judge for more time to process an acquittal motion.
OneCoin was recently charged with fraud and money laundering. The founder’s brother, Dr. Rija Ignatova, admitted guilt to the charges and also accused Phoenix Thoroughbreds of being funded using the money laundered through OneCoin.
OneCoin’s lawyer, Mark S. Scott was found guilty of helping Co-Founder, Ruja Ignatova who remains at large, launder $400 million. As for his cut of the pie, news outlet, Coin Telegraph disclosed that it amounted to some $50 million.
Several interesting details regarding the OneCoin Ponzi Scheme have come to light this week. It appears one of the individuals responsible for this scam is the brother of Dr. Ruja Ignatova. People who have followed the story of OneCoin to date will know this project is anything but legitimate.
The trial of an American lawyer accused of laundering money for the notorious OneCoin pyramid scheme, began in New York yesterday. The lawyer is the first of three key players in the scam to face trial.
The money laundering case involving OneCoin and Bank of Ireland (BOI) worth ˆ273 million took another turn as the 4 employees of BOI crucial to the case decided not to testify unless the US authorities make it “compulsory,” reported The Irish Times.
A former attorney from Locke Lord LLP pled not guilty on a new indictment that further charged him with bank fraud and laundering $400 million related to a widely known cryptocurrency scam, OneCoin.
US department of justice in a filing with the New York court alleged that Bank of Ireland (BOI) was deceived by a lawyer to launder ˆ273 million proceeds from multi-billion dollar OneCoin cryptocurrency scam.
As the multi-billion dollar OneCoin cryptocurrency pyramid scheme continues to tumble, news of witnesses set to testify against the scam’s perpetrators are now coming to light. According to Finance Feeds, employees of the Bank of Ireland have been asked to testify in the case against Mark Scott, one of the alleged figureheads of the $3 billion-plus OneCoin scam.
Officials of the Bank of Ireland (BOI) are set to testify against a principal actor in the alleged OneCoin crypto Ponzi scam before a U. S. court. BOI Employees to Point the Finger at OneCoin Principal Actor According to FinanceFeeds, four past and present employees of the BOI will serve as witnesses for the U.
Pieces and bits of the case against OneCoin and its executives by DOJ are being put together, and we can now get a clear picture of where the case is headed. Pieces of evidence have unsealed the bits, and it makes things more understandable.
Cryptocurrency is already a rather controversial industry, made only worse by the drama that surrounds it. Another story of money laundering has reached the market, coming directly from the Samoan Seventh Day Adventist Church in New Zealand.
By CCN: Konstantin Ignatov, the CEO of the multi-billion-dollar “crypto” Ponzi scheme OneCoin, has pleaded not guilty to wire fraud. According to court documents, Ignatov entered the plea during a May 28 preliminary hearing via conference call.
OneCoin, whose leaders have been indicted on wire and securities fraud as well as money laundering, took umbrage with a recent report by the Central Bank of Samoa calling the crypto project a "hybrid ponzi-pyramid scheme."
Embattled pseudo-crypto ponzi scam, OneCoin, has a lot to answer for, now allegedly including the ‘compromise’ of Samoa’s financial system. This is according to the country’s Central Bank, which is investigating two Samoan churches for money laundering over OneCoin.
In a recent report released by The Block, they show hat OneCoin indictment includes securities fraud charges. According to this report released by Nelson Rosario and Stephen Palley, they inform that OneCoin organizer, Ignatov and Ignatova, have been charged with wire fraud, conspiracy to commit money laundering and also securities fraud. OneCoin Indictment Includes Securities […]
The alleged ringleaders of OneCoin, the multi-billion dollar cryptocurrency-fuelled pyramid scheme, have finally been busted. On Friday, US authorities apprehended brother-and-sister duo Konstantin Ignatov and Ruja Ignatova at Los Angeles International Airport over their role in the international blockchain-based scam, reports Bloomberg.
Following his arrest by authorities at LAX airport, Konstantin Ignatov, leader of the OneCoin ponzi scam, now faces charges. His sister, Ruja, who founded OneCoin, also faces multiple charges of fraud and money laundering — although currently remains at large.
Karl Greenwood, co-founder of the OneCoin cryptocurrency scam, has been sentenced to 20 years in prison and ordered to repay $300 million. This scam, associated with the notorious “Cryptoqueen” Ruja Ignatova, defrauded millions of victims worldwide, resulting in a total loss of $4 billion.
The Crypto Queen accomplice, like his former boss Ruja Ignatova, has disappeared prior to facing legal proceedings in the United States. Frank Schneider, who worked as the “crisis manager” and security advisor for OneCoin’s mastermind Ignatova, is currently evading authorities and is being pursued by the French legal system.
The ex-boyfriend of fugitive Ruja Ignatova (also known as Cryptoqueen) was sentenced to five years in prison for laundering $300 million in earnings from investors of the bogus crypto venture, OneCoin.
OneCoin was a fraudulent cryptocurrency that was marketed through a global multi-level marketing (MLM) network. Its co-founder has now pleaded guilty to fraud charges related to its operations.
The post OneCoin Co-Founder Karl Sebastian Greenwood Pleads Guilty to Fraud Charges appeared first on BeInCrypto.
OneCoin and its criminal enigma mastermind Ruja Ignatova, also known as 'Cryptoqueen,' may now be a man, complete with short hair and a beard.
The post OneCoin Scam ‘Cryptoqueen’ Ruja Ignatova May Now Be a Man appeared first on BeInCrypto.
Three associates of OneCoin mastermind Ruja Ignatova (aka Cryptoqueen) appeared in a German court on Oct. 18, 2022.
The post Cryptoqueen Nowhere to Be Found as Fraud Trial Begins appeared first on BeInCrypto.
She is known as the “Cryptoqueen” because she conned billions of dollars using a cryptocurrency that had no actual value before it vanished. The Federal Bureau of Investigation has now placed her on its list of the 10 most-wanted criminals.
