Home CryptocurrencyBitcoin Prosecutors recommend at least 17 years in prison for OneCoin lawyer

Prosecutors recommend at least 17 years in prison for OneCoin lawyer

by SuperiorInvest

The US Attorney’s Office has suggested that a minimum sentence of 17 years was “fair and appropriate” for a lawyer responsible for laundering money through the OneCoin crypto scheme.

In a Jan. 19 filing in the U.S. District Court for the Southern District of New York, U.S. Attorney Damian Williams recommended “a sentence of at least 17 years” for Mark Scott, a lawyer who laundered millions of dollars. via OneCoin. According to prosecutors, Scott “chose to work full time” laundering funds for ‘Cryptoqueen’ Ruja Ignatova, who co-founded OneCoin with Karl Sebastian Greenwood in 2014.

“[Scott] “He engaged in incredibly serious and sophisticated criminal conduct, conduct for which he has accepted no responsibility and for which he has not shown even a shred of remorse,” the Jan. 19 filing states. “Your punishment of him must be commensurate with the severity of his crime.”

Filing Jan. 19 in the U.S. District Court for the Southern District of New York. Source: PACER

Prosecutors cited evidence that Scott knew OneCoin was a fraud scheme, but “repeatedly and regularly lied and falsified documents” related to his connection to the company and Ignatova. They allege that he used his status and knowledge as a lawyer to “protect his illegal communications” with Ignatova from law enforcement, and that a minimum sentence of 17 years was an appropriate deterrent based on Scott’s “abhorrent” conduct:

“It is critical to deter potential money launderers, who can often engage in schemes like this at a safe distance from the day-to-day operation of the fraud scheme itself. Without money launderers like Scott, schemes like OneCoin would fail and fail.”

OneCoin’s lawyer was found guilty of conspiracy to commit bank fraud and conspiracy to commit money laundering in November 2019. According to the US attorney, Scott’s legal team proposed a sentence of five years in prison.

Related: OneCoin: A Deep Dive into Cryptocurrencies’ Most Notorious Ponzi Scheme

In September 2023, Greenwood was sentenced to 20 years in prison on fraud and money laundering charges and ordered to pay $300 million in restitution to OneCoin victims. Irinia Dilkinska, OneCoin’s former chief compliance officer, pleaded guilty to two felonies in November 2023, with sentencing scheduled for February.

Although implicated in the plot, Ignatova remains at large at the time of this publication. She is on the Federal Bureau of Investigation’s Ten Most Wanted list for conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, and securities fraud.

Magazine: US Law Enforcement Agencies Ramping Up Pressure on Crypto-Related Crimes

Source Link

Related Posts