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.