In a recent development, a lawyer who played a pivotal role in laundering a staggering $400 million from the OneCoin scam has been denied a new trial. Despite his claims of legal errors and false testimonies during the original 2019 trial, the court has upheld his conviction.
Mark Scott, an attorney aged 54, vehemently claimed that he did not know OneCoin’s fraudulent nature at the time, according to a Sept. 18 report from Bloomberg. Consequently, he firmly believed that he should not be held responsible for his involvement in establishing the fund used to facilitate money laundering for OneCoin’s founder, Ruja “Cryptoqueen” Ignatov.
Scott, previously facing a guilty verdict in November 2019, was charged with money laundering and bank fraud conspiracy. Startling revelations from prosecutors unveiled his involvement in amassing an astonishing $50 million through a deceptive fund linked to the OneCoin scheme.
Scott’s legal team, following the initial conviction, undertook a compelling endeavor to secure a new trial. Their focus primarily rested on exposing a pivotal aspect: the revelation of false testimony provided by a government witness during the initial problem.
However, a hearing conducted on September 18 revealed that United States District Judge Edgardo Ramos dismissed the request for a new trial. Despite Konstantin Ignatov’s false testimony during the 2019 trial, Judge Ramos expressed doubt regarding the possibility of an innocent conviction.
Scott’s legal representatives remain undeterred by the recent setback and have made it known that they plan to appeal the decision. They argue passionately, asserting that their client feels disheartened by the court’s refusal to grant a new trial. Their reasoning stems from the undeniable proof they possess, which proves that the Government’s sole cooperating witness committed perjury.
OneCoin Co-Founder Sentenced to 20 Years
OneCoin was introduce in 2014 as a cryptocurrency resembling Bitcoin in structure. However, over time, it became a pyramid scheme, preying on unsuspecting users with deceitful claims and empty promises of significant future profits.
During the trial, it came to light that Scott had utilized the $50 million derived from OneCoin to support an abundant way of life. This lavish lifestyle encompassed the procurement of numerous multimillion-dollar residences, extravagant timepieces, high-end automobiles, and even a magnificent yacht measuring 17 meters in length.
In separate events, Karl Greenwood, co-founder of OneCoin, faced the consequences after receiving a 20-year sentence in a U.S. prison on September 12. This severe verdict followed his conviction on multiple charges, including fraud and money laundering.
In the narrative of events, Ruja Ignatov, the mastermind behind OneCoin, has remained elusive since October 2017. Currently, she holds a spot on the Federal Bureau of Investigation’s Ten Most Wanted List.
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These recent developments have brought to light the legal consequences faced by individuals implicated in the OneCoin scandal. They emphasizes the utmost importance of ensuring accountability within cryptocurrency and finance.
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