American lawyer Mark Scott found guilty for laundering OneCoin money

American lawyer Mark Scott has been found guilty for laundering OneCoin scam money. The court will announce the sentence later in which Scott might face up to 50 years in prison.

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Earlier, the brother of Ruja Ignatova, Konstantin Ignatov, had pleaded guilty for his role in OneCoin crypto scam. According to the Mirror report, Mark Scott is due to be sentenced early next year and faces up to 50 years in jail.

 

Mark Scott laundered victims’ funds via banks in Ireland.

American lawyer Mark Scott as been found guilty for laundering OneCoin victims’ money via bank accounts in Ireland and the Cayman Islands to the British Virgin Islands, disguising it as investments from “wealthy European families.” The US Department of Justice called OneCoin a massive pyramid fraud scheme. OneCoin had defrauded around $4 billion from investors via its fake ICO. Earlier, when the charges were announced in March, FBI Assistant Director-in-Charge William Sweeney, Jr. said: “Unlike authentic cryptocurrencies, which maintain records of their investors’ transaction history, OneCoin had no real value.

 

“Cryptoqueen” is still on the run.

Ruja Ignatova, the woman behind this grand OneCoin Ponzi scheme, is still on the run. If she ever gets caught, she faces charges of wire fraud, conspiracy to commit wire fraud, securities fraud, and conspiracy to commit money laundering, each of which carries a maximum sentence of 20 years. Earlier, her brother, after reaching a plea deal, had revealed some information to help police find her whereabouts.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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