Crypto Scam OneCoin paid $ 50M to money laundering lawyer

Crypto Scam OneCoin paid $ 50M to money laundering lawyer

Crypto Scam OneCoin paid $ 50M to money laundering lawyer

US prosecutors told a Manhattan panel of judges that lawyer Mark S. Scott could add $ 50 million to his account in exchange for his help to OneCoin co-founder and fugitive Ruja Ignotova in laundering $ 400 million.

Law360 announced this in a post on their website. They argue that the district of New York has reached the final stage of prosecuting the lawyer, who is a former partner of the law firm Locke Lord. He is suspected of laundering money for Ignatova – now also known as the ‘cryptoqueen’.

Crypto scam raised $ 4.4 billion

OneCoin is one of the most notorious exit scams in the history of crypto. Over time, a total of more than 4 billion US dollars has been raised with the Ponzi scheme. The prosecutors accuse Scott of setting up a large network of non-existent companies, which are then linked to foreign accounts and fraudulent investments to launder more than $ 400 million in revenue.

Scott saw his reward for the criminal activities in the form of a 20-meter yacht, three houses worth more than a few million dollars each and some beautiful cars, including three Porsches and a Ferrari.

Scott himself maintains that he had no idea that OneCoin is a scam, while the state speaks of an overwhelming burden of proof against Scott. The former employer of Scott, law firm Locke Lord, said in a statement that the firm knew nothing of Scott’s intention to carry out illegal activities, all of which took place after he left the firm.

About Viktor Sokolov 163 Articles
Nerd, entrepreneur & coffee aficionado. Believes that blockchain infrastructure and bitcoin will be the money system of the coming decades. Trying to make visible what this means for technology, economy, companies and societies.

Be the first to comment

Leave a Reply

Your email address will not be published.