Lawyer who laundered $400M from OneCoin rip-off denied new trial: Report

Home » Lawyer who laundered $400M from OneCoin rip-off denied new trial: Report
Lawyer who laundered $400M from OneCoin rip-off denied new trial: Report

The lawyer accountable for laundering $400 million from the OneCoin fraud has been denied a movement in search of a brand new trial, regardless of a prosecution witness having perjured themselves within the trial towards him in 2019.

Based on a Sept. 18 report from Bloomberg, 54-year-old lawyer Mark Scott argued that he didn’t know OneCoin was a fraudulent operation on the time and shouldn’t be charged for his function in organising the fund that laundered cash for OneCoin founder Ruja “Cryptoqueen” Ignatov. 

Scott was discovered responsible of cash laundering and financial institution fraud conspiracy in November 2019, with prosecutors discovering that Scott earned a complete of $50 million by means of a fraudulent fund that processed funds and transactions siphoned from the OneCoin scheme.

His authorized workforce has been in search of a brand new trial since, citing a false testimony from a authorities witness within the unique trial. 

Nevertheless, throughout a Sept. 18 listening to, United States District Decide Edgardo Ramos denied the attorneys’ request for a brand new trial, saying he was unconvinced that “an harmless individual might have been convicted” regardless of the false testimony delivered through the 2019 trial by Konstantin Ignatov.

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

Legal professionals for Scott mentioned that they might enchantment the choice, claiming that his shopper was “upset that the courtroom didn’t grant a brand new trial given the undisputed proof that the Authorities’s sole cooperating witness perjured himself.”

Associated: OneCoin head of compliance dealing with 40-year sentence after US extradition

OneCoin was launched in 2014, and marketed itself as a cryptocurrency that was related in construction to Bitcoin. Nevertheless, it was later revealed to be a pyramid scheme that functioned by luring in new customers with fictitious claims and guarantees of excessive future earnings.

The prosecution claimed that Scott used the $50 million in proceeds from OneCoin to finance an costly way of life, shopping for a swathe of luxurious items together with quite a few multimillion-dollar houses, watches, sports activities vehicles and a 17 meter yacht.

On Sept. 12, Ramos sentenced OneCoin’s co-founder Karl Greenwood to twenty years in jail in america, after he was discovered responsible of a litany of fees together with fraud and cash laundering.

Ruja Ignatov has not been seen since October 2017 and is at the moment on the Federal Bureau of Investigation’s Ten Most Wished Checklist.

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