OneCoin co-founder and a fugitive ‘cryptoqueen’ Ruja Ignatova paid $50 million to a lawyer Mark S. Scott who helped her to launder $400 million, United States prosecutors say.
According to a report, the New York County district attorney’s office and the Manhattan U.S. attorney’s office are in the last stage of prosecuting Scott. Scott is a former partner at law firm Locke Lord. He supposedly received $50 million for helping so-called ‘cryptoqueen’ to launder a massive amount of money.
Prosecutor Julieta Lozano had said that as compensation for his criminal activities, Scott received various luxuries purchases. These include three multimillion-dollar homes in Massachusetts, a 57-foot yacht, and luxury cars, including three Porsches and a Ferrari.
According to the prosecutors, the lawyer employed an extensive network of fake companies, fraudulent investment schemes, and offshore bank accounts for criminal purposes.
On the other hand, Scott’s defense lawyer told the jury that there is plenty of doubt in the case. Moreover, there is no actual evidence proving Mark Scott knew of OneCoin’s scamming origins.
A spokeswoman for Locke Lord said in a statement that they did not know of Scott’s supposed criminal activities outside of the firm. According to the spokeswoman, Scott’s charges by the federal government include money laundering almost two years after he left the firm.
Founded in 2014, OneCoin is among the crypto industry’s most scandalous exit scams. According to investigators’ allegations, it has fraudulently raised over 4.4 billion dollars (€4 billion). Though, the Bulgaria-based firm behind OneCoin remains operational.
The ‘Cryptoqueen’ Ignatova is the sister of OneCoin co-founder Konstantin Ignatov. Ignatov signed a guilty plea in connection with the alleged fraud in October and now faces up to 90 years in jail.
Ignatova has been indicted on charges for her role in money laundering and fraud but remains fugitive.
Key Points: AUD/JPY broke below a rising wedge, signalling possible bearish momentum, with immediate resistance at 103.00 and support at…
Key Points EUR/JPY Rises to 168.25: Strengthened by robust Eurozone economy and steady ECB policy. Eurozone GDP Grew by 0.3%…
Key Points: Nio's shares hit 44.20 HKD, up 20%, with electric vehicle deliveries up 134.6% year-on-year to 15,620. BYD leads…
Key Points: Ethereum fell sharply from $3,355 to a low of $2,813, reflecting high volatility and sensitivity to market dynamics.…
Key Points Nikkei 225 slightly fell by 0.1%, while the Hang Seng index surged by 2.4%. USD/JPY increased slightly, highlighting…
Key Points: Gold prices rose on MCX India to ₹71,278/10 gm and COMEX US to $2,328/oz. The US Dollar Index…
This website uses cookies.