OneCoin scam: Lawyer on trial for illegally routing $400 million – OneCoin News

The trial of Mark Scott, the accused lawyer in the OneCoin scam, has begun in New York. Scott is charged for the illegal routing of around 400 million US dollars outside the country and is considered leading money-laundering and using Victims' money for personal belongings. Scott has denied the charges claiming to be unaware of the fraud beneath the rocks. The case is envisioned to last for two to three weeks to conclude his claims.

Mark Scott, the accused lawyer in the OneCoin scam, will face the legal proceedings from today in New York. The scheme led by siblings Konstantin Ignatov, and Ruja Ignatov, deceived people of billions of dollars by offering a fake cryptocurrency and Scott is charged for playing the most active role in the fraud.

The US lawyer allegedly routed 400 million US dollars out of the nation to conceal his records and passage of funds. Besides this, he led the money-laundering schemes, which earned him thousands of dollars and is also charged for using victims’ investments to buy personal luxury items, including a yacht, a Ferrari, and three mansions. Reportedly, some of his funds were transferred to accounts in the Bank of Ireland, and the officials of the bank will testify against Scott.

However, despite several accusations, Scott has denied knowing any misdeed conducted. He claimed of being unaware of any scam going in the firm and told the FBI of being given assurance of authenticity by his colleague. The lawsuit is suspected to last between two to three weeks to discover the truth behind Scott’s defense.

Although Konstantin was arrested, his sister is on the run. And while other trials are awaited involving the scam, the proceedings of Mark Scott will be precisely followed.

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Karol Rhodri
Karol Rhodri
Karol is a strong professional with a Master of Library & Information Science - MLIS focused in Mathematics and Computer Science from Empire Beauty School-State College. He has a strong belief that every technology-related company will surely adopt blockchain, it's just a matter of time.

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