In a recent development in the OneCoin fraud case, the lawyer responsible for laundering $400 million from the scheme has been denied a motion seeking a new trial. Mark Scott, a 54-year-old lawyer, argued that he was unaware of OneCoin’s fraudulent nature when he set up the fund that facilitated money laundering for OneCoin’s founder, Ruja “Cryptoqueen” Ignatov. However, United States District Judge Edgardo Ramos was unconvinced and denied Scott’s request for a new trial.
Scott’s defense team highlighted the false testimony provided by a government witness, Konstantin Ignatov, during the original trial. Ignatov, Ruja’s brother, admitted to aiding her in the OneCoin fraud. Despite this revelation, Judge Ramos remained skeptical about the possibility of an innocent conviction based on the perjured testimony. Scott’s lawyers have expressed disappointment with the court’s decision and have stated that they intend to appeal.
OneCoin, presented as a cryptocurrency with similarities to Bitcoin, was launched in 2014. However, it was later revealed to be a pyramid scheme that enticed new users with fictitious claims of high future earnings. Scott, according to prosecutors, earned $50 million through a fraudulent fund that processed payments and transactions from the OneCoin scheme. The funds were allegedly used to finance an extravagant lifestyle, including the purchase of luxury goods such as multimillion-dollar homes, watches, sports cars, and even a 17-meter yacht.
Karl Greenwood, OneCoin’s co-founder, recently received a 20-year prison sentence in the United States after being found guilty of fraud and money laundering, among other charges. The sentencing highlights the severity of the crimes committed within the OneCoin scheme. Meanwhile, Ruja Ignatov, the mastermind behind the fraud, remains at large since October 2017 and is currently on the Federal Bureau of Investigation’s Ten Most Wanted List.
Appeal and the Road Ahead
Although Scott’s motion for a new trial has been denied, his legal team remains determined to continue their fight for justice. They believe that the false testimony provided by a government witness should not be overlooked and raises questions about the fairness of the original trial. With their intention to appeal the decision, Scott’s lawyers aim to challenge the conviction and seek a new trial.
The denial of a new trial for Mark Scott, the lawyer involved in laundering funds from the OneCoin fraud, despite the perjury of a government witness, has sparked disappointment and the decision to appeal. As the legal battle continues, the severity of the OneCoin scheme and the involvement of various individuals in perpetrating the fraud have come to light. This case serves as a reminder of the importance of justice and the pursuit of truth in uncovering and punishing financial crimes.
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