ONECOIN ASSOCIATE TRIES TO DODGE $400M LAUNDERING CHARGES

Posted 05 February, 2020

ONECOIN AIDE CLAIMS ‘INSUFFICIENT’ EVIDENCE

 

Mark Scott pleaded guilty last November to two counts of money laundering (banking and banking fraud) by OneCoin and its fraudulent founder, Ruzhi Ignatova, totaling $ 400 million.

The process lasted only three weeks and ended quickly after conclusive evidence of his and Ignatov's letters asking the Crypt Queen to "pay" for her, promising her anonymity.

Yesterday, he told the Southern District of New York that the charges against him should be dropped on the basis of "insufficient" evidence. Otherwise, he said that the court must refer the matter to the federal government for a decision.

 

PROSECUTORS ‘FAILED’ IN FIGHTING HIS CASE

 

In a memo accompanying his request for acquittal, Scott said his prosecutors did not announce that he was actually investigating the alleged misconduct of Ignatova's accomplice. The document shall specify:

 

The evidence adduced through these witnesses and others — in large part innuendo and hearsay — was insufficient to support a conviction of on either count… The court should, therefore, enter a judgment of acquittal on both counts.

 

Memorandum or not, Scott definitely looks uphill. An associate partner of OneCoin was arrested in 2018 because Ignatova washed funds from OneCoin investors by creating organizations known as Fenero funds.

These organizations then shipped the capital from Bulgarian-based OneCoin back to the treasury of Ignatova and its partners. Scott only needed $ 50 million to attend operations.

At that time, the jury rejected Scott's claims that he did not know that OneCoin was a fraud and that he acted only in the interests of his clients. For its part, the ruthless Ignatova has not been heard since 2017. October when she fled from her native Bulgaria.

Previous story

05 February, 2020 16:10

← ETHEREUM GOLDEN CROSS APPEARS AS DAI SAVINGS RATE APPROACHES DOUBLE FIGURES

Encryption markets continued to consolidate for another day, but decentralized financial markets again reached record levels as Ethereum's cryptocurrency savings rates approached double digits and ETH was rewarded with a golden cross.

ETHEREUM GOLDEN CROSS APPEARS AS DAI SAVINGS RATE APPROACHES DOUBLE FIGURES

Next story

04 February, 2020 19:24

HOW A CRYPTO COLD WAR COULD ARISE FROM CENTRAL BANK COMPETITION →

Last year social media giant Facebook put the world’s central banks into a panic with its crypto currency ambitions. This year they are scrambling to launch their own digital currencies but competition could lead to a crypto cold war.

HOW A CRYPTO COLD WAR COULD ARISE FROM CENTRAL BANK COMPETITION
Write a comment
 
Prove you’re not a bot + 6 = 15