Lawyer accused of money laundering for OneCoin ‘scam’ goes on trial

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The so-called scam raised an estimated $5billion throughout the world and it is believed some 70,000 people in the UK be undergoing been left out-of-pocket after signing up to OneCoin packages. Prosecutors ask he also spent some of the fraud’s proceeds on a yacht, three diets and a Ferrari sportscar. Mr Scott faces one charge of conspiracy to commit the ready laundering and another to commit bank fraud. He has pleaded not guilty.

Contract to a recent court filing, his lawyers indicate that they trust the government will prove that money from OneCoin was seated in funds controlled by the defendant.

But they point to the fact that Mr Scott beforehand told the FBI that he had asked a colleague to look into rumours that OneCoin superiority be a “pyramid scheme” before getting involved, and had been reassured “there was nothing prohibited going on”.

“The central issue at trial will be whether or not Mr Scott separated OneCoin was operating a criminal scheme,” they added.

US prosecutors are considering OneCoin which they suspect is nothing more than an involved pyramid scheme. It raised an estimated $5bn throughout the world.

The investigation took a flourishing turn when founder Dr Ruja Ignatova disappeared before being dictated with money laundering.

Speaking in court today, Assistant US Attorney Julieta V Lozano asseverated it was a fraud from the beginning.

“OneCoin compared itself to real cryptocurrencies homologous to bitcoin. But OneCoin was a total sham,” she added.

“OneCoin claimed it disposition have a meteoric rise. Victims all over the world wired in stinking rich. But when they tried to withdraw their money, they couldn’t.

“This sham brought in billions and this is where the defendant came in.

“The profits couldn’t be sent speedily to Ruja. That would be too obvious.

“And banks stopped doing calling with OneCoin. So Ruja sought the assistant of money launderers take pleasure in Mark Scott.”

Oxford-educated Ignatova – the self-proclaimed Cryptoqueen – fled in 2017 in advance being slapped with the charges in her absence by the US Department of Justice.

Others Byzantine in OneCoin are also facing prosecution.

The man alleged to be one of the scheme’s leaders, Konstantin Ignatov, was retarded at Los Angeles International Airport in March.

And co-founder Sebastian Greenwood was extradited from Thailand to the US replacing an FBI operation in November 2018.

Bulgaria-based OneCoin continues to trade, and has vehemently left it is a scam.

“OneCoin verifiably fulfils all criteria of the definition of a cryptocurrency,” it implied in a recent statement given to The Missing Cryptoqueen, a BBC podcast.

“Our partners, our clients and our lawyers are fighting successfully proceedings against OneCoin.

“We are sure that the eidolon of a new system on the basis of a financial revolution will be established.”

The trial withs.

• Coin Rivet is a website bringing news, information, analysis, idea and insight from the fast-moving blockchain world.

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